London and St. Thomas Association of Realtors
MLS Real Estate Housing Market Report
for May 2012
| Market Activity | 751 detached homes and 162 condos exchanged hands in May 2012, for a total of 913 transactions | |
| Type of Market | Balanced | |
| Listings | Active detached home listings end of period were down 8.6%. Active condo listings end of period were down .9 | |
| Average Price for May 2012
(May 2012 compared with Last Month |
Total Residential (Detached & Condo) | $248,651 up .3% ($247,869) |
| All detached homes in LSTAR’s jurisdiction | $265,756 down .3% ($266,457 | |
| All condos in LSTAR’S jurisdiction | $169,358 up 1.6% ($166,717 | |
| All two-storeys in LSTAR’s jurisdiction | $336,579 up 4.9% ($320,894 | |
| All bungalows in LSTAR’s jurisdiction | $204,744 up 5.2% ($194,625 | |
| All ranches in LSTAR’S jurisdiction | $294,120 down 8.5% ($321,477 | |
| All townhouse condos in LSTAR’s jurisdiction | $160,365 up 5% ($152,778 | |
| Most Popular in May | 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 March 2012, the average price yearto-date for:
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| Market Factors | “May’s figures underscore the fact that our local market remains vibrant,” advised Barb Whitney, President of London and St. Thomas Association of REALTORS® (LSTAR). “What we’re seeing now in terms of sales is more on a par with previous Mays going back to the turn of the millennium.” “Active listings at month’s end were down 7.3%, a bit of a departure from what we’ve seen over the past several years. This points to a ramping up in activity,” says Whitney. “We continue to see our market as balanced, however – now and for the near future.” | |
Source: London and St. Thomas Real Estate Board (LSTAR)
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