October Sales in Line with Forcast

Last month a total of 566 homes exchanged hands, down 14.8% from the previous year. “This is right in line with what we’ve seen all over the country over the past five months,” says Richard Thyssen, President of the London and St. Thomas Association of REALTORS®. “We experienced a higher volume of sales immediately after the downturn as consumers who had been sitting on the fence jumped back into the market. Now that pent up demand has been met and the market has settled down a little. The Year-to-date sales figures speak to this: at this point in the year we are still 1.1% ahead of last year.” This month, as in previous months and years, homes in LSTAR’s jurisdiction maintain their affordability compared to other major Ontario and Canadian centers. Home sales in the Grand Bend area were very similar to those of London with prices stabilizing and sales down compared to 2009.