Market continues to rebound!

The London Free Press reported that after a slow start, the London-St. Thomas real estate market continues to rebound this year. Year-to-date sales have almost caught up to 2010. The London-St. Thomas Association of Realtors (LSTAR) said 702 homes sold in September, up 19.2% over the same month last year. The sales include 589 detached homes and 113 condos. So far this year, 6,512 homes have sold, slightly below the 6,567 sold in the same period last year. Real estate sales in London-St. Thomas were down as much as 15% in the spring compared to 2010, but the market started to turn around in June. "We had a bit of a slow start in 2011, but we're definitely on the right track now . . . and we expect this positive trend to continue." said LSTAR president Jack Lane. The number of active listings was also up 9% in September. "We're absolutely in a balanced market these days," said Lane, "which means a level playing field for both buyers and sellers."