July MLS Sales take a dive

Aug 062010
 

London and area MLS sales down 21%

MLS sales down in July

July was hot, hot,hot but homes sales were cool. LSTAR, the London St.Thomas Association of Realtors,July MLS sales reported that sales were down 21% compared to last July. Home prices remained strong though, indicating our current market is priced properly.

The chart on the right compares July 2010 sales to those of previous years.  2010 has the lowest sales figures since 2001.

Many predicted a drop in sales due to the implementation of the H.S.T. on July 1st. While H.S.T  is added to services realted to a home purchase, it is not added to the price of a resale home.

Will sales increase as “H.S.T. shock” wears off?  Are mortgage rate scares a factor? I say scares, because rates are still low.

Visit Market Watch for more analysis

   

About Warren Strong

Warren Strong, Sales Representative Sutton Group Preferred Realty Inc., Brokerage, Independently Owned and Operated 181 Commissioners Rd W., London, ON N6J 1X9 519-438-2222 (office) 519-495-8700 (direct)

Warren Strong is a full time Realtor working with Ontario’s largest independent Sutton office, Sutton Group Preferred Realty Inc . Brokerage.

A life time resident of London, I am extremely familiar with London neighbourhoods and the surrounding area. My business is focused strictly on the residential home and condominium market.

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About Sutton Group Preferred Realty Inc

We are Ontario's second largest independent Sutton office with over 155 energetic Realtors. We at Sutton Group Preferred Realty Inc., believe in supporting and encouraging our Realtors to be the very best they can be! We take pride in providing excellent service, continuous support, extensive training and mentoring, up-to-date information and the latest technology available; all key functions of a highly professional brokerage. Sutton Group Preferred has grown into a leader in the Real Estate industry due to the success and professional approach of our sales force, who are proud to serve their communities in over 20 languages.

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