Record Real Estate Sales London Ontario & Area 2017

If you are looking for a houses or condos for sale around London & South West Ontario here are a few neighbourhoods you may want to consider.

Byron Delaware  Dorchester
Hunt Club Hyde Park Ilderton
Kilworth Komoka Lambeth
Masonville Oakridge Pond Mills
Riverbend Stoneybrook Summerside
Sunningdale University Western Ontario Uplands
Warbler Woods Westmount Wortley Village Old South London

 

A historic year for real estate in 2017

  11,203 Home Sales sets Record in London Ontario & Area for the first time  

The London and St. Thomas Association of REALTORS® (LSTAR) announced that 2017 marked a historic year for residential real estate, with home sales surpassing 11,000 for the first time since LSTAR began tracking data in 1978. In 2017, a total of 11,203 homes were sold, up 8.0% from 2016.

London and St. Thomas reached many ‘firsts,’ from six consecutive months of record sales to robust activity from buyers from outside the city.

In 2017, the average sales price across London and St. Thomas was $330,037 up 18.0% from 2016. By geographic area, London South was $340,793, up 21.7% from 2016. In London North, average home sales price was $407,801, up 18.1% compared to the previous year, while in London East, it was $258,734, an increase of 16.9%.  In St. Thomas, it was $261,481, up 15.2% over 2016.

St. Thomas saw a total of 901 homes sold in 2017, up 6.8% from 2016. In 2017, there were a total of 14,301 home listings, down 1.2% from 2016. The trend of high demand with low supply continued in 2017, with inventory (called Active Listings) down 35.6% from the previous year.

The following table is based on data taken from the CREA (Canadian Real Estate Association) national MLS® Report for November 2017 (the latest CREA statistics available). It provides a snapshot of how average home prices in London and St. Thomas compare to other major Ontario and Canadian centres.

City Average Sale
Vancouver $1,081,876
Toronto $779,693
Fraser Valley $741,172
Victoria $684,843
Hamilton $545,690
Calgary $450,700
Kitchener-Waterloo $445,855
Niagara $389,016
Ottawa $385,058
Edmonton $372,911
London St. Thomas $332,607
Windsor-Essex $265,565
CANADA $513,433       

November 2017 Numbers

October 2017 Numbers

 For a breakdown of sale prices to asking prices and more, contact me for more detailed information:
 We have the facts about real estate in London Ontario
 I can give you :
  • Days on the market vs List Price Median for the last 10 years
  • Historic count of active listings
  • Historic sales for the last 10 years
  • Historic sales price trends
  • Historic sales and price range
  • Original price vs sold price
  • Sale price / listprice ratios

Why is this information important? Whether you were buying or selling, these numbers will give you peace of mind of the neighbourhood trends, plus, a confidence level for price, expectation levels for negotiating and about 8 other advantages I can help you with.

Our knowledge of the market, our ability to get hard facts and not assume anything or give an opinion that could be biased is the cornerstone of our business and the reason why our volume of business and referrals are growing exponentially.

Oh, a hard work ethic makes a huge difference as well!

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