As the demands for homes are struggling to be met, the results were mixed for the sales of homes in three markets in the Ontario area, apart from the Greater Toronto Area. In areas like London-St. Thomas, they experienced a record-breaking month, while Windsor-Essex County, on the other hand, had their sales go down from the previous year. It was a different story for Bruce Grey Owen Sound in the west as they witnessed strong growth.
October turned out to be the best ever for London-St Thomas, as they sold 825 homes by London and St. Thomas Association of Realtors, which went up over the year to 18.7 per cent. LSTAR’s 2016 President, Stacey Evoy said; “The runner up for best October ever was in 2006, when 711 homes exchanged hands. Not even close!”
When likened to the same period of 2015, the prices increased by 5.3 per cent year-to-date, with the sales benchmark price at $278,471. In the third quarter, inventory declined. During the same month of October, the sales and market activity in Windsor-Essex Country leveled down, with sales decreasing over the years by 6 per cent, while activity glided down by 3.3 per cent.
Windsor-Essex Country Association of Realtor showed the year-to-date figures; sales rose up by 10.6 per cent to 5,911, with activity increasing by 1.86 per cent. The prices went up by 14.91 per cent to an average price of $230,754 in the month of October.
In conclusion, a report of the recent 277 record-breaking sales was done by the Realtors Association of Bruce Grey Owen Sound, after increasing from the previous year by 28.2 per cent. The average price went up by 7.3 per cent to $262,281, while inventory plunged down by 39.5 per cent.