Statistical News Releases

The Spring Market was off to a slow start in March with home sales down 20.5%. The cooling off impacted detached homes and condos almost equally, with 495 detached homes exchanging hands last month – down 20.5% - and 117 condos – down 20.4%. Altogether a total of 612 homes sold in March 2013.

Although home sales exceeded those of January 2013 by 138 units, 2013 continued to be slow out of the gate in February, with 448 detached homes exchanging hands – down 10.4% from February 2012 –  and 128 condos – down 6.6%. Altogether sales were down 9.6% from the previous year.

2012 shaped up to be a balanced year for the local real estate market. We saw slightly fewer sales than we did in 2011, but also fewer listings. Watch this video report of the 2012 President of the London and St. Thomas Association of REALTORS®, Barb Whitney, as she analyzes the market activity during her year in office.

2013 got off to a slow start, with 438 homes trading hands in January, down 3.5% from the previous January. “We're expecting a fairly flat, but stable market over the next year and these sales figures are pretty much in line with that," comments Doug Pedlar, President of the London and St. Thomas Association of REALTORS®. “Besides, January has never been a great month for real estate. Looking ahead, we have the Spring market and that will give us a better idea of how 2013 will shape up.”

A total of 8,020 homes traded hands in 2012, 28 fewer units than the 8,048 homes sold in 2011. "That's a difference of only 0.3%," says Barb Whitney, 2012 President of LSTAR, "very marginal and just what we expected from our market, which has proven itself once again to be steady, reliable and balanced. As far as LSTAR goes, 2012 has been a very satisfactory year for real estate in our jurisdiction."

Sales of detached homes dipped 15.9% in November 2012, with 417 homes exchanging hands. Sales of condos, however, were up 18.8%, with the result that, Year-to-Date, total sales are down only a modest 0.3%. 

"During the third quarter of this year we have seen a cooling of the local real estate market", says 2012 LSTAR President, Barb Whitney.

Sales stabilized in October 2012, with 624 homes exchanging hands over the course of the month. Altogether 502 detached homes sold, 1.4 % up from the previous year, and 122 condos, up a resounding 38.6 % from October 2011. Altogether sales were up 7% from the previous year.

The real estate market cooled in September 2012, with only 596 homes exchanging hands over the course of the month. Altogether 493 detached homes sold, down 16.3% from September 2011, along with 103 condos, down 8.8%. Total sales were down 15.1%.

Sales were down somewhat in August 2012, with 723 homes exchanging hands over the course of the month – forty less than the previous August. Altogether, 584 detached homes sold - 5.8% down, and 139 condos - 2.8% down from August 2011. “Traditionally the dog days of summer can be a little slow,” says Barb Whitney, President of the London and St. Thomas Association of REALTORS®.