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In fact, October 2014 proved to be the sixth consecutive month in which area home sales outpaced those of the previous year.
For the fifth month in a row area home sales have exceeded those of the previous year.
Area home sales began to trend upwards in the Spring of 2014 with sales that exceeded those of the previous year in May (by 5%), June (by 23.4%), July (by 24.4%) and, now, August (by 13.6%). 791 homes sold in August 2014, making last month the best August since 2007, when 871 homes sold.
980 homes sold in July 2014, making last month the second best July on record, surpassed only by July 2007, when 1,009 homes exchanged hands.
981 homes exchanged hands last month, up 23.4% from June 2013. Detached homes were up 22.3%, condos were up 28.4% and listings were up 18.6%. Year-to-Date sales total 4,337, up 2.8%.
The Spring Market might have been slow out of the gate, but it more than made up for any lost time in May. A total of 988 homes exchanged hands last month, the highest record for a month in six years.
April saw the condo market rebound to more normal levels. 170 condos sold last month, up 18.1% from the previous year. Detached homes did not fare as well. 666 detached homes sold in April, down 7.5%.
Despite temperatures that continued to dip well below average for the month of March, there were signs that Spring had finally arrived for a region that had remained locked in a deep freeze over one of the coldest, snowiest and longest winters on record – real estate sold signs! In March 2014, 548 detached homes sold, up 10.7%, along with 118 condos, up 0.9%. Altogether 666 homes exchanged hands, up 8.8%.
A total of 498 homes sold in February 2014, down 13.5% from the previous year. Listings for the month were up a marginal 0.2%, while inventory – active listings end of period – were up 4.3%.
A total of 382 homes sold in January 2014, down 12.8% from the previous year. Listings for the month were also down 6.2%, although inventory—active listings end of period—were up 2.2%.
We would like to acknowledge the Indigenous Peoples in whose traditional territory we work and live: the Anishinabek; the Haudenosaunee; and the Lunaapeew. The three distinct First Nations communities within the Middlesex-London area are: Chippewas of the Thames First Nation; Oneida Nation of the Thames; and Munsee-Delaware Nation. We acknowledge the many longstanding treaty relationships between Indigenous Nations and Canada – including the London Township Purchase of 1796 between the Anishinabek and the Crown. This territory is now home to many First Nations, Metis, and Inuit peoples.
Each of us must honour these relationships, and we all have a responsibility to reconcile.
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