The real estate agents association in London and St. Thomas has been keeping a close eye on their sales figures. The latest figures show the highest level of home sales in the region for the month of September since 1978.
In September alone, 150 condos were sold, with 716 detached homes; which summed up to 866 homes sold in total. The percentage increased to 3.1 per cent compared to the previous year. September was recorded as the fourth record-breaking month for this year’s home sales, along with April, June, and August.
The inventory in the region declined to more than a third, while the listing also went down by 15.5 per cent at the same time. Stacey Evoy who is the president of London St. Thomas Association of Realtor said that the fall is an opportunity for sellers to have access to the market as demand remains steady at a high level.
“September home sales in LSTAR’s jurisdiction spun approximately $45,898,000 into our local economy and created approximately 288 jobs,” said Stacey; as she emphasized on the influence and impact the real estate industry has had towards Southwestern Ontario. Unlike the last year’s year-to-date price of homes, this year’s own increased by 5.8 per cent and was at average, $279,311.