Tuesday, May 10, 2011
Weather Dampens Real Estates Sales for April
The London Free Press reported that the cool, gloomy spring weather helped dampen the real estate market in the London area last month. The London and St. Thomas Association of Realtors (LSTAR) said 750 homes sold in April including 619 detached homes and 131 condos, 23.6% below the sales in the same month last year. LSTAR president Jack Lane noted that April 2010 set a sales record for the month and this years April sales were close to the long-term average. 'When you factor in the persistently poor weather that has plagued our region over the last few months, I think 2011 sales point to a healthy, vibrant market. I predict by year's end, our numbers will be down only marginally from those of 2010,' said Lane. The average price for all homes sold in the area jumped 5.5% last month to $242,111.