News

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.

Sales last month were up 5.6% over those of the previous July, with 630 detached homes exchanging hands and 158 condos. This represents a 1.6% increase in sales of detached homes and an increase of 25.4% in condo sales. "Condos have been moving a little slowly over the last several months, so it was good to see them rebound so nicely in July," says Doug Pedlar, President of London and St. Thomas Association of REALTORS® (LSTAR). "As for detached homes, the market for those continued strong and steady last month - almost as if this year's Spring market extended into the summer months." He adds, "New listings were up 6.9% and listings end of period – or inventory – was up 0.9%, indicating that, now and for the foreseeable future, we can expect our market to continue to be a balanced one – good for buyers and sellers alike."

LSTAR is proud to announce that the recipients of the 2013 LSTAR Scholarship are Madison Walker, the daughter of LSTAR Member Carolyn Baines, and Jess Hodgson, the son of LSTAR Member Paula Hodgson.

Sales last month were down 3.6% over those of the previous June with 654 detached homes exchanging hands and 141 condos. This represents a 1.4% decrease in sales for detached homes and a 13.0 % decrease in condo sales.

The London and St. Thomas Association of REALTORS® invites the public to its first annual REALTORS® Kool Wheels Charity Bike and Auto Show, sponsored by Dalmar Motors.

The Spring market continued to gain traction in May, with 941 homes sales, up 3.1%. "The market appears to be rallying after a somewhat slow start to the year," says Doug Pedlar, President of the London and St. Thomas Association of REALTORS®. "Condos were a little soft (down 6.2%) but detached homes were up by 5.1%." He adds, "We're also pleased to note that new listings are up 8.2% and inventory – the number of active listings end of period - is up 3.8%. Those figures indicate that we remain in a balanced market overall – good news for buyers and sellers alike."

The Spring market gained more traction in April, with 720 detached homes exchanging hands last month, an increase of four units over last April, and 144 condos, down by twenty units. “Altogether April sales were down 1.8% from April of the previous year,” says Doug Pedlar, President of the London and St. Thomas Association of REALTORS®. “However, given the slow start to the year, 864 homes being sold in a single month represents a definite improvement and is right in line with previous Aprils over the past decade.”

The London and St. Thomas Association of REALTORS® held its 2012 Annual General Meeting yesterday, April 23, 2013, at the London Convention Centre.

The Board of Directors of LSTAR congratulate LSTAR Members Eavan Travers and Greg Harris, recipients along with their Board of Directors of the CCIM Chapter of Excellence Award.