News

The Regional Commercial Council of LSTAR has named the twenty contenders for the 2013 Don Smith Commercial Building Awards. The event is sponsored by CBRE, Dancor Construction, Elgin County and Millennium Real Estate Solutions. Judging tour transportation is generously provided by Voyageur Transportation Services.

The Board of Directors of the London and St. Thomas Association of REALTORS® (LSTAR) is pleased to announce that London REALTOR® Jim Holody will serve as its 2014 President.

2013 saw 7,905 home sales, down a marginal 1.4% – 115 units – from 2012. 6,442 detached homes exchanged hands last year – down only 1.1% from the previous year - and 1,463 condos – down 3%. "We had a slow start to 2013, but the market stabilized over the course of the year and finished strong," says Doug Pedlar, the 2013 President of the London and St. Thomas Association of REALTORS®.

On December 11, 2013, in the presence of the assembled Board of Directors of the London and St Thomas Association of REALTORS®, LSTAR President Doug Pedlar presented Gabriella Catolino, Director of Development & Capital Campaign for St. Joseph's Hospice, Donald Bryant, Capitol Campaign Chair, and Marisa Kanas, Campaign Development Officer, with a cheque for $25,000, to be used towards the establishment of a residential hospice in London at the Sisters of St. Joseph's Residence.

Home sales in November were up 7.6% overall, with 551 homes exchanging hands over the past month. “We always like to see an increase in sales,” says Doug Pedlar, President of the London and St. Thomas Association of REALTORS®. “It's important, however, to bear in mind that last November's sales were comparatively low, which means that what we are seeing now may be more like a market correction than anything else.” The average number of sales for November between 2008 and 2012 was 535.

Overall sales in LSTAR's jurisdiction were up 3.2% in October, with a total of 644 homes exchanging hands in LSTAR's jurisdiction. Detached homes were up 3.6%, while condos were up 1.6%. "This is just the sort of market we like to see," says Doug Pedlar, President of the London and St. Thomas Association of REALTORS®. "Very much business as usual." This brings our year to date only down by 2.6% over 2012.

A new special event organized by LSTAR and sponsored by Dalmar Motors has raised over $3,000 for Youth Opportunities Unlimited – the REALTORS® Kool Wheels Charity Bike and Auto Show, which took place on June 22, 2013. LSTAR President-Elect and Kool Wheels Chair Jim Holody was on hand to present YOU's Executive Director Steve Cordes and YOU Board Member and fellow REALTOR® Dan Grantham with a cheque in the amount of $3,149.23.

Overall sales were up 3% in September, with a total of 614 homes exchanging hands in LSTAR's jurisdiction. Detached homes were up 5.3%, while condos were down 7.8%. "To put this into perspective, overall sales were a little down in September 2012", says Doug Pedlar, President of the London and St. Thomas Association of REALTORS®. "This September was a little more like business as usual."

Overall sales were down 3.7% last month, compared with those of the previous August. However, when you look at year-to date we are only down 2% year over year. Condos, however, were up 2.2%. “Condo sales have been slow over the past year or so, with the exception of last month, when they were up 25.4%,” says Doug Pedlar, President of London and St. Thomas Association of REALTORS® (LSTAR). “Obviously that part of the market has been playing catch-up in July and August. That's good to see. Condos are a significant part of our housing stock and the market is strongest when all of its stock is moving well.” 554 detached homes sold in August 2013, while 142 condos exchanged hands.