In March, local real estate sales decreased 4.8% over those of previous year, with 623 detached homes and 147 condos exchanging hands over the course of the month. Detached were slightly down by 3.7% and condo’s by 13.3%. “So, while this month’s figures are nothing to get excited about, they are also nothing to be concerned about. Slow and steady wins the race” says Barb Whitney, President, London and St. Thomas Association of REALTORS®.
“The number of active listings at month’s end was up by 2.5% – our inventory or supply of available homes. This is the kind of market REALTORS® like to see – lots of activity. Sellers see that properties are moving at a good pace and buyers have a wide array of choices. In other words, our local market continues balanced.” says President Barb Whitney.