Tuesday, July 12, 2011
REAL ESTATE SALES REBOUND IN JUNE
Nine hundred and thirteen homes exchanged hands in June: 741 detached homes, up 12.3%, and 172 condos, up 10.3%. "It's the best month this year and right in line with pre-Recession levels," says Jack Lane, the President of the London and St. Thomas Association of REALTORS®. "The market is definitely heading in the right direction." Residential listings taken last month numbered 1,746, up by 11.2%. "The uptick in listings is just further proof, that we are in a balanced market, one that’s good for buyers and sellers alike," says Lane. London was not the only City to have a good June. St. Thomas’s sales were up by 15.9% and its average house price Year to Date came in at $187,019, up 2.8%. This month, as in previous months and years, homes in LSTAR’s jurisdiction maintain their affordability compared to other major Ontario and Canadian centers.