February 2018 – Real Estate Market Update

Here is your February 2018 – Real Estate Market Update

Low inventory is the term I hear a lot around our office. Everyone has a lot of clients waiting to buy, what’s the problem? Nothing is available for sale!

536 homes were sold in February, down 32.8% from last year.

The President of the Board: “Inventory, or Active Listings, continues to experience a dramatic decrease compared to 2017, which is having a huge impact on sales. There were 1,103 active listings, down 26.4% from this time last year. This is the lowest level of inventory we’ve had in the region over the last 10 years.”

Average Home Sale Prices Across Canada

Market Stats – Average Prices

Average February sales price in the region was $349,848, up 10.8% over February 2017
South London was $375,329, up 15.3% from last February
London North, average home sales price was $424,959, up 14.5% compared to the previous year
East, it was $286,770, an increase of 10.5% from February 2017
St. Thomas, it was $307,383, up 27.4% over last February

How Can We Help?

Are you ready to sell or start searching for your new home?

Let’s set up a time to chat. We are happy to meet in person or virtually.
Some of the ways we can help are listed below.

Call Direct: 519.933.6198
Email: Stewart(at)londonontariorealty(dotted)com

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Looking for more information on the London market? You can visit the London & St Thomas Association of Realtors site.
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