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Tuesday, June 25, 2019
CANADA DAY EVENTS AROUND THE AREA
Saturday, June 22, 2019
Tuesday, June 18, 2019
Friday, June 7, 2019
Local real estate market shows signs of stabilization in May
London and St. Thomas Association of REALTORS® (LSTAR) announced
1,146 homes exchanged hands last month in its jurisdiction, 1% less than in May
2018 and 26% down from May 2017, which was a record-setting month - with 1,549
homes sold. The number of active listings for the same area sat at 1,855 in
May, with most LSTAR regions seeing year-over-year increases, with the
exception of London East and St. Thomas, where this number decreased.
"Some of the May figures show signs of market
stabilization, with London North, Elgin County and Middlesex County entering a
more balanced territory," said Earl Taylor, 2019 LSTAR President.
According to reports by the Canadian Real Estate Association
(CREA), last month, in London, the median number of days spent on market by the
London residential properties was eight. In Elgin County, the median number of
days on market was 22, in Middlesex County - 15, while in St. Thomas and
Strathroy was 13. "This proves how dynamic the London real estate market
is in comparison with its neighbouring regions," Taylor emphasized.
Overall, the average home price in the Association's
jurisdiction was $414,878. This represents a slight decrease from April 2019,
but it's 13.3% up over May 2018.
Area
|
May Average Sale Price
|
Elgin
County
|
$345,783
|
London
|
$423,470
|
Middlesex
County
|
$487,421
|
St.
Thomas
|
$363,947
|
Strathroy
|
$364,580
|
LSTAR
|
$414,878
|
Monday, June 3, 2019
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