Saturday, June 6, 2020

May Sees an Uptick in Sales, Listings and Prices

The London and St. Thomas Association of REALTORS® announced that 668 homes exchanged hands last month in its jurisdiction, down 41.6% from May 2019 and 26.3% less than in May 2010. The number of LSTAR's listings was 973 in May, which represents a 42.3% decrease from a year ago and 41.5% from ten years ago.
"Even though the total number of residential transactions remained well below the 10-year average, in May, we saw notable month-over-month increases: 42.4% in home sales and 31.8% in listings, which we find very encouraging," said Blair Campbell, 2020 LSTAR President. "In addition, when looking at the year-over-year percentage changes, one can notice that the decrease in home sales is directly proportional to the one in listings, which means that the ratio between supply and demand is almost unchanged," he added.
"Despite the new social distancing rules, the open house prohibition and the lay-offs caused by COVID-19, the local real estate market succeeded in staying in Sellers' territory, which speaks to the strength of its fundamentals," Campbell emphasized.
The overall average home price saw an increase of 7.4% over a year ago, rising to $445,732 in May. This average sales price includes all housing types - from single detached homes to high-rise apartment condominiums. All the five major areas of LSTAR's region witnessed increases in their average home sales price. The following table illustrates last month's average home prices by area and how they compare to the values recorded at the end of May 2019.
May 2020 Average Sale Price
Change over May 2019
Elgin County
↑ 14.7%
↑ 6.2%
Middlesex County
↑ 13.0%
St. Thomas
↑ 1.7%
↑ 16.8%
↑ 7.4%
"Looking at London's three main geographic areas, London South saw the highest number of home sales last month, while London East saw the biggest price gain compared to May 2019," Campbell said.
The average home price in London East was $365,261, up 8.4% from the same time last year, while in London North increased 7.7% over the same period to $531,626. In London South, which also includes data from the west of the City, the average home price was $462,334, up 6.5% over May 2019. St. Thomas saw an average price of $370,182, an increase of 1.7% from last May.
According to a report by the Canadian Real Estate Association, last month, in London, the median number of days that a home was on the market was 14 - up from 9 days in May 2019. As compared to a year ago, in Elgin County, the median number of days spent by a home on the market was 17 - down from 26; in Middlesex County it was 22 - up from 17; in Strathroy was 19, up from 14; and in St. Thomas it was 12 days - exactly the same as in May 2019.

Monday, June 1, 2020

June Newsletter ~ The PEDLAR Team Update

We Made It To June!

The PEDLAR Team wants to send health and safety to your family during these peculiar times. A round of applause goes out to the front line workers in the health care system! Another round of applause goes out to those who make it possible for our grocery store shelves to be stocked. From the truck driver to the person working the cash register.

Our office continues to remain closed to the public but we are still very much open for business via phone calls and emails. Thankfully we had many virtual practices in use before the current situation. We can do virtual showings, virtual signatures and virtual appraisals so feel free to give us a call for all your real estate needs. We always say, we are never far from our phones!

We live in an amazing community and as a whole we will get through this together! Stay safe and stay healthy!

We are seeing some positive signs in the real estate market around here as restrictions are eased by the Ontario government and people feel more sense of safety. Call us today if your thinking about buying or selling!

In Grand Bend Region (Port Franks to Bayfield) listings doubled in May compared to April (15 in April and 31 in May). In Grand Bend listings doubled from month to month as well (7 in April and 13 in May). For sales they tripled from month to month. Grand Bend region saw 10 sales in April and 27 sales in May. Along with Grand Bend where we saw 4 sales in April and 11 sales in May. These are positive signs for our local market! Main thing is we are seeing no signs that prices are decreasing and that the buyer pool is slowly coming back!

Lambton County & Huron County
Business Map

A new initiative started by the Lambton County & Huron County Economic Development groups was uploaded recently. They each created a virtual mapping website to show all the businesses and store fronts across the counties. These were created as an idea during COVID and will become a great tool for locals and tourists alike after COVID. Any business can be posted in the respective area if you go to the proper link below for each county.

Lambton County:
Huron County:

Still Having Troubles Being Productive While Working From Home? Check This Out

As many people adjust to working from home it can be tough to be productive. We have always had home and business seperate but now they are blend together. Here are 5 simple steps to being more productive while working from home.

1. Find A Secluded Place
2. Stay Organized
3. Dress To Impress
4. Eliminate Distractions
5. Stick To A Schedule

Click the link for full article:

Shoreline ToGo

Order food for takeout or delivery from the restaurants you love in Arkona, Bayfield, Blyth, Exeter, Forest, Grand Bend, Hensall, Kettle & Stony Point, Ipperwash, Northville, Parkhill, Port Franks, Thedford and Zurich! Many of our restaurants are OPEN and LOOKING for your business. This is a great way to see what is open in our area. Support local during these times so we can enjoy them to their fullest when COVID restrictions are eased.
Click the link to view full report:

New To Lambton Shores?

The municipality of Lambton Shores is starting a new initiative of making municipality information easier to find out. Check the link out and see what things you didn't know about this awesome municipality.

Click the link:

Social Media
Have a great day everyone and don't forget to check out our social media sites like youtube, facebook, twitter and our website to stay up to date on all the latest listings. You can find the links to these various social media outlets above our information below. See the benefits of using a high quality drone and camera for videos and pictures to add content to each listing.
SOLD IN Deer Run
1,322 Sq Ft Bungalow
Full Finished Basement
Double Attached Carport
3 Beds 3 Baths

Durand Lakefront
75' Of Lake Frontage
Built In 2011
4,100 Sq Ft Finished
3 Beds 3 Bath
Port Lambton Riverfront
Totally Updated in 2010
105' Owned River Frontage
Backyard Oasis
3 Beds 3 Bath
If you or any of your friends and family are looking to buy or sell make sure to call us first!
Referrals are the greatest compliment

Check our website out by clicking the link below
The Pedlar Team Facebook
The Pedlar Team Website
The Pedlar Team YouTube
The Pedlar Team Twitter
 Doug Pedlar      Mark Pedlar     Garrett Pedlar 
    Broker of Record                         Broker                        Sales Representative
519-902-4099    519-670-0746     519-872-0910