London and St. Thomas Association of Realtors
MLS Real Estate Housing Market Report
for March 2012
| Market Activity | 623 detached homes and 147 condos exchanged hands in March 2012, for a total of 770 transactions. | |
| Type of Market | Balanced | |
| Listings | Active detached home listings end of period were up .7 %. Active condo listings end of period were up 11.1%. | |
| Average Price for March 2012(March 2012 compared with Last Month | Total Residential (Detached & Condo) | $236,004 up .5% ($234,752) |
| All detached homes in LSTAR’s jurisdiction | $251,533 down .4% ($252,523) | |
| All condos in LSTAR’S jurisdiction | $170,193 up 0.2% ($169,897) | |
| All two-storeys in LSTAR’s jurisdiction | $305,814 down 6.5% ($327,195) | |
| All bungalows in LSTAR’s jurisdiction | $189,498 up 10.1% ($172,101) | |
| All ranches in LSTAR’S jurisdiction | $298,480 up 5% ($284,309) | |
| All townhouse condos in LSTAR’s jurisdiction | $156,094 down 1.5% ($158,523) | |
| Most Popular in March | Two-storeys, then bungalows, then ranches, and then townhouse condos. | |
| Affordability | Homes in LSTAR’s jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centres. According to the Canadian Real Estate Association’s Major Market MLS® Statistical Survey for February 2012, the average price year-to-date for:
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| Market Factors | “The number of active listings at month’s end was up by 2.5% – our inventory or supply of available homes. This is the kind of market REALTORS® like to see – lots of activity. Sellers see that properties are moving at a good pace and buyers have a wide array of choices. In other words, our local market continues balanced.” says President Barb Whitney. | |
Source: London and St. Thomas Real Estate Board (LSTAR)
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