Market Watch

Average London and St. Thomas Ontario Home Prices

Updated  September 2nd, 2010.

August 2010 saw the volume of home sales down 16.1% from the previous year, making August 2010 the third consecutive month in which the decline in market activity forecast by the Canadian Real Estate Association (CREA) and Canada Mortgage and Housing Corporation (CMHC) continued to erode the gains made last year.

However, year to date sales volumes are still outperforming last year as shown in the second graph.

The London and area real estate market is described as balanced.

Balanced Market: In a balanced market, the number of homes for sale satisfies the demand. Characteristics of this market include houses selling within a reasonable time period, sellers accepting reasonable offers and stabilized prices. The atmosphere is usually more relaxed.

Average Home Prices 2001 to present

Hovering over column will display data

Year to date sales volumes also reflect the health of our real estate market

Disclosure Statement: Although the Information displayed is believed to be accurate, no warranties or representations are made of any kind.

The London and St. Thomas Association of REALTORS® represents nearly 1,500 real estate brokers and sales representatives from Middlesex and Elgin Counties. As members of the Canadian Real Estate Association, LSTAR members may use the REALTOR® trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics. The Association operates the local Multiple Listing Service® (MLS®) and provides ongoing professional education courses for its members. It also participates in the Ontario Real Estate Association’s Quality of Life program.

MLS® is a registered trademark of CREA the Canadian Real Estate Association