Tuesday, April 6, 2010
March Sales were great!
The London Free Press today reported that March was another solid month for London-area home sales, boosting confidence the real estate market is back to pre-recession levels. The London and St. Thomas Association of Realtors said 859 homes sold last month, up 28% from the same month last year when the market was still in the grip of the recession. The association said the March totals were in line with average sales for the month over the last 10 years. "It's a question of recovering lost ground rather than any kind of boom," said association president Richard Thyssen While real estate crashed in most major markets last year, sales in London and St. Thomas dipped only 3.42% overall, compared to 2008. "Now, we're pretty much back where we were before the financial meltdown and gaining momentum," Thyssen said. He noted the number of homes listed for sale is also up, 20.6% for detached homes and 6.3% for condos. "That's good news for our spring market and for our local economy as a whole, given the considerable economic spin-off of real estate sales," he said.