Strong Spring Real Estate Market

Photo from Flickr courtesy www.aag.com/retirement-reverse-mortgage-pictures

Last month was the second-best April in the past decade for home sales in London, according to officials with LSTAR – London, St. Thomas Association of Realtors.

Nine-hundred and sixty-four homes changed ownership, a year over year increase of 15.3%. The best April in the last 10 years was in 2010. The best-selling homes were two-storey, followed by bungalows, ranches, townhouse condos and then high-rise condos.

Here’s how London sales broke down in April:

  • 776 detached homes sold, up 16.5%; average price $278,094, up 2.2%
  • 188 condos, up 10.6%, average price¬†$184,982.

President of LSTAR, Carl Vandergoot, says the market is balanced but active listings are down a marginal 0.2%, making it a good time to put a home on the market.

In St. Thomas, sales kept pace with the previous April. Seventy-seven homes sold. The average price of a home in St. Thomas is $216,109, up 8.1% from December 31, 2014.