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Archive for the ‘Real Estate Statistics’ Category

July 4, 2017

The London and St. Thomas Association of REALTORS® (LSTAR) announced home sales achieved the best results ever for the month of June, since LSTAR began tracking sales data in 1978*. A total of 1,245 homes were sold in June, an increase of 9.9% over the same period last year.

“We’re halfway through the year, and we had the sixth consecutive month of record sales,” said Jim Smith, LSTAR President. “Other regions have started to see a drop in sales, according to the latest figures from the Canadian Real Estate Association (CREA). Although activity has started to slow down in other municipalities, REALTORS® across London and St. Thomas continue to receive interest from outside the region. Our marketplace continues to be very strong, with year-to-date home sales more than 23 percent ahead of 2016.”

In June, a total of 998 detached homes were sold, an increase of 8.6% over the previous year, while there were 247 condominium sales, up 15.4% from 2016. The average sales price across London and St. Thomas was $335,233 – down 2.8% from the previous month. The average year-to-date sales price was $331,524 – up 18.8% from the 2016 average home price of $279,057.

“The summer season is in full swing and we understand contractors throughout the region are in high demand,” Smith said. “Renovation projects may help homeowners to add value to their properties, spurring healthy activity for local small businesses and merchants, contributing further to the economic growth of our communities.”

In June, there were 1,398 listings, up 9.0% from the same time in 2016. The year-to-date sales are outpacing last year by 23.2%, with a total of 6,542 homes sold.

St. Thomas enjoyed strong activity in June as well, with a total of 111 homes sold, up 46.1% from the same time last year. The average home price in St. Thomas was $280,336, up 8.0% from the previous month.

The best-selling house style in June continues to be the two-storey, followed by the bungalow, and ranch. The average price for a detached home in June was $361,560 down 2.8% from the previous month, while the average price for a condominium was $228,860, down 6.4% from the previous month.

According to a research report, one job is created for every three real estate transactions and approximately $53,000 in ancillary spending is generated every time a home changes hands in Ontario. “Based on the record monthly total for June, that translates into creating potentially over 400 jobs and positioning us to potentially generate nearly $66 million back into the local economy,” Smith said. “With month after month of record sales, we continue to be focused on delivering the best service that consumers expect from us. In a dynamic marketplace, a REALTOR® has the knowledge and experience to protect the needs of the consumer and help them manage every step of the real estate process.”

as published by LSTAR

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June 2, 2017

The London and St Thomas Association of REALTORS® (LSTAR) announced a total of 1,539 homes were sold in May, an increase of 33.4% over the same period last year. This represents the best results ever for May, and the highest monthly home sales total ever recorded, since LSTAR began tracking data in 1978*.

“We’re experiencing a very strong marketplace, with the fifth consecutive month of record sales,” said Jim Smith, LSTAR President. “REALTORS® are still seeing multiple offer scenarios and interest from outside the region. When you factor in the region’s low unemployment rate and continued job growth, the economy is firing on all cylinders. This year, year-to-date home sales are already 27% ahead of 2016.”

In May, a total of 1,209 detached homes were sold, an increase of 28.6% over the previous year, while there were 330 condominium sales, up 54.2% from 2016. The average sales price across London and St. Thomas was $344,815 down 0.6% from the previous month. The average year-to-date sales price was $330,890 up 18.6% from the 2016 average home price of $279,057.

“We understand the City and local home builders are working closely to bring more permit ready residential lots in the second half of the year, which contributes a tremendous boost to the economy,” Smith said. “The news of high-speed rail is also encouraging, and this may be a huge factor toward a future building boom in home construction.”

In May, there were 1,985 listings, up 15.5% from the same time in 2016. The year-to-date sales are outpacing last year by 27.0%, with a total of 5,307 homes sold.

St. Thomas also had a very healthy May, with a total of 115 homes sold, down 0.9% from the same time last year. The average home price in St. Thomas was $259,491 down 4.0% from the previous month.

The best-selling house style in May continues to be the two-storey, followed by the bungalow and ranch. The average price for a detached home in May was $372,163 down 0.1% from the previous month, while the average price for a condominium was $244,619 down 1.4% from the previous month.

According to a research report**, one job is created for every three real estate transactions and approximately $53,000 in ancillary spending is generated every time a home changes hands in Ontario. “Based on the historic sales we saw in May, that translates into creating potentially over 500 jobs and positioning us to potentially generate more than $81 million back into the local economy,” Smith said. “With the summer season, many homeowners are looking to add value to their homes through renovating and landscaping projects as well, igniting lots of activity for area merchants and small businesses, helping to further grow the economy.”

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May 2, 2017

The London and St Thomas Association of REALTORS® (LSTAR) announced another record month for residential sales in April, with a total of 1,220 homes sold, an increase of 14.2% over the same period last year. This represents the best results ever for April, since LSTAR began tracking sales data in 1978.

“Since the beginning of the year, every month has achieved record sales. After the first four months, we’re about 25 percent ahead in home sales compared to 2016,” said Jim Smith, LSTAR President. “It just shows how desirable the region is, when you consider affordability, accessibility and lifestyle. London and St. Thomas have so many features that make them attractive destinations to live, work, raise families and retire. We’ve got farm-to-table restaurants, London Knights hockey, big-name concerts and culture, such as the North American Railway Hall of Fame and the Grand Theatre.”

In April, a total of 971 detached homes were sold, an increase of 11.7% over the previous year, while there were 249 condominium sales, up 25.1% from 2016. The average sales price was $347,062 up 5.4% from the previous month. The average year-to-date sales price was $325,286 up 16.6% from 2016 average home price of $279,057.

“With this robust marketplace, it’s a fantastic time to get in touch with a REALTOR®,” Smith said. “With an increase in multiple offer situations, interest from outside of London and St. Thomas, and the regulatory requirements, a REALTOR® can help you manage the process every step of the way.”

St. Thomas also had a very healthy April, with a total of 97 homes sold, up 12.8% from the same time last year. The average home price in St. Thomas was $270,439 up 9.3% from the previous month.

The best-selling house style in April continues to be the two-storey, followed by the bungalow and ranch. The average price for a detached home in April was $372,461, up 4.7% from the previous month, while the average price for a condominium was $248,020 up 14.5% from the previous month.

According to a research report1, one job is created for every three real estate transactions and approximately $53,000 in ancillary spending is generated every time a home changes hands in Ontario. “Based on the record sales in April, that translates into creating potentially over 400 jobs and positioning us to potentially generate $64 million back into the local economy for London and St. Thomas,” Smith said.

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April 3, 2017

The London and St Thomas Association of REALTORS® (LSTAR)

announced another record month for residential sales in March, with a total of 1,242 homes sold, an increase of 44% over the same period last year. This represents the best results ever for March since LSTAR began tracking sales data in 1978.

“We continue to experience a very robust marketplace, with some very strong year-to-date sales as well,” said Jim Smith, LSTAR 2017 President. “After the first quarter of 2017, year-to-date sales are up by 30.4%, compared to 2016. We’ve been telling consumers who are thinking about putting their home on the market that current conditions are very encouraging. You have to go back to 2004, the only other instance when sales surpassed 1,000 homes in March.”

In March, a total of 1,006 detached homes were sold, an increase of 46.9% over the previous year, while there were 236 condominium sales, up 34.9% from 2016. The average sales price was $329,218 – up 6.9% from the previous month. In looking at the first quarter of 2017, the average sales price was $314,847, up 12.8% from the first quarter of 2016.

“March started to see mild, spring-like temperatures in weather, and this could also have been a factor helping the month’s sales,” Smith said. “We continue to see the trend of low supply and high demand, with the number of listings down 7.9% compared to a year ago. Now more than ever is an ideal time to get in touch with a REALTOR®.”

St. Thomas also had a very healthy March, with a total of 108 homes sold, up 44% from the same time last year. The average home price in St. Thomas was $247,455 up 2.2% from the previous month.

The best-selling house style in March continues to be the two-storey, followed by the bungalow and ranch. The average price for a detached home in March was $355,651 up 8.5% from the previous month, while the average price for a condominium was $216,539 down 8.3% from the previous month.

According to a research report1, one job is created for every three real estate transactions and approximately $53,000 in ancillary spending is generated every time a home changes hands in Ontario. “With the March sales, that translates into creating potentially over 400 jobs and setting us up to potentially generate almost $66 million back into the local economy,” Smith said.

Click here to see the original News Release of LSTAR

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March 1, 2017

The London and St Thomas Association of REALTORS® (LSTAR) announced residential sales achieved its best February results ever, since LSTAR began tracking sales data in 1978. A total of 763 homes were sold in February, an increase of 17% over the same period last year.

“We experienced another strong month, with year-to-date sales also up by 19.5%” said Jim Smith, LSTAR 2017 President. “Again, we’re observing this trend of low supply and high demand, with February having a 9.8% decrease in the number of available listings, compared to this time last year. For those considering of putting their home on the market, the current conditions are very encouraging.”

In February, a total of 597 detached homes were sold, an increase of 15% over the previous year, while there were 166 condominium sales, up 24.8% from 2016. The average sales price was $307,831 up 7.9% from the previous month.

“Overall, we experienced a mild February in terms of weather, which also played in factor in helping the strong performance throughout the month,” Smith said. “And we continue to see robust activity in the condominium market, with a quarter more units sold.”

St. Thomas also had a very healthy February, with a total of 69 homes sold, up 25.5% from the same time last year. The average home price in St. Thomas was $242,028, up 25.7% from the previous month.

House Style Units Sold Average Price
2 storey 158 $436,333
Bungalow 70 $229,471
Ranch 53 $372,968
Townhouse 64 $206,166
High rise apt. condo 44 $193,576

The best-selling house style in February continues to be the two-storey, followed by the bungalow and ranch. The average price for a detached home in February was $327,754, up 4.4% from the previous month, while the average price for a condominium was $236,180, up 19.8% from the previous month.

The following table is based on data taken from the Canadian Real Estate Association’s (CREA) National MLS® Report for January 2017 (the latest 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 Price
Vancouver $851,384
Toronto $803,455
Fraser Valley $643,331
Victoria $611,362
Hamilton $522,978
Calgary $466,984
Kitchener-Waterloo $421,151
Ottawa $389,875
Edmonton $360,199
Niagara $346,059
Saskatoon $335,812
London St. Thomas $292,291
Canada $484,306

According to a research report1, one job is created for every three real estate transactions and approximately $53,000 in ancillary spending is generated every time a home changes hands in Ontario. “Real estate continues to be a huge driver to the local economy,” Smith said. “With the February sales, that translates into creating potentially over 250 jobs and putting us in a position to potentially generate around $40 million back into the local economy.”

For Comment: Jim Smith, 519-433-4331 , For Background: John Geha, 519-641-1400

 

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The London and St. Thomas Association of REALTORS® (LSTAR) announced another milestone for residential sales across the region, with the best January results since LSTAR began tracking sales data in 1978. A total of 574 homes were sold in January, an increase of 26.2% over last January.

“We’re off to a tremendous start this year with our best January ever,” said Jim Smith, LSTAR 2017 President. “The trend of high demand and low supply continues, with January experiencing a 12.2% decrease in the number of listings compared to the previous year. Those thinking of selling may want to consider maximizing the current market conditions.”

In January, a total of 434 detached homes were sold, an increase of 15.1 % over the previous year, while there were 140 condominium sales, up 79.5% from 2016. The average sales price was $285,418, up 0.5% from the previous month.

“We saw a huge boost in condominium sales, with almost double the number of units sold in 2017,” Smith said. “It represents very robust activity happening in the condominium market, again with less listings available compared to 2016.”

St. Thomas also had a very healthy January, with a total of 55 homes sold, up 139.1% from the same time last year. The average home price in St. Thomas was $192,474, down 28.1% from the previous month.

The best-selling house style in January continues to be the two-storey, followed by the bungalow and ranch. The average price for a detached home in January was $313,879, up 2.3% from the previous month, while the average price for a condominium was $197,190, up 2.8% from the previous month.

House Style Units Sold Average Price
2 storey 128 $407,000
Bungalow 58 $229,599
Ranch 37 $362,543
Townhouse 64 $157,469
High rise apt. condo 36 $158,775

The following chart is based on data taken from the Canadian Real Estate Association’s (CREA) National MLS® Report for December 2016 (the latest statistics available). It provides a snapshot of how average home prices in London and St. Thomas compare to other major Ontario and Canadian centres.

According to a research report1, one job is created for every three real estate transactions and approximately $53,000 in ancillary spending is generated every time a home changes hands in Ontario. “Real estate is providing a huge boost to the local economy,” Smith said. “When we look at January, that means residential sales created 191 jobs and more than $30 million was generated into the local economy.”

Source: LSTAR

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Real Estate market remains strong in St Thomas

March 2013 came in and went out like a lion but St. Thomas weathered the storms of March much better than London. In St Thomas, 50 homes sold in March 2013, the same number as last March. This follows a brisk start to the year with sales up 5% in January 2013 and up 38.9% in February over the same months of 2012.
Year-to-Date sales are up 12.8% in St. Thomas, while the average price for a home Year-to-Date stands at $198,548, up 3.6% from the year before.
Active listings for March are down 1.7% over March 2012 and down only 3.8% Year-to-Date over last year.

The Spring Market was off to a slow start in London in March with 612 home sales, down 20.5% over 2012. New listings were also down 9.4% overall, while inventory – the number of active listings at the end of the month, were down 7.2%.

Compliments of Earl Taylor- Broker
Coldwell Banker at Success Realty

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