Real Estate Market Update – July 2018
Here is your real estate market update – july 2018
The market in London is still strong with the biggest issue being a lack of inventory.
Market Breakdown July 2018
- 1,000 homes* were sold in July, down 1.8% over the same time last year
- July 2018 marked the third best July for home resales since the Association began tracking sales data in 1978.
The LSTAR President offered the following comments: “The numbers tell us we’re experiencing a very healthy summer for home resales. This is the third consecutive month of at least 1,000 homes being sold and the resale activity remains above the 10-year average. Inventory remains at a 10-year low, while we continue to see an increase in average sales price.”
Market Breakdown By Area
London East
- Average July sales price at $288,648
- Up 14.3% from July 2017
London North
- Average July sales price was $441,035
- Up 8.0% from July 2017
London South
- Average July sales price was $370,399
- Up 10.9 % from July 2017
London and St. Thomas
- Average July sales price was $360,068
- Up 10.3% from July 2017
Average Home Prices Across Canada
How Can We Help?
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