Home sales in London and St-Thomas saw a sharp rise in March, up 11.8 per cent from a year earlier and up 10.8 per cent in the year-to-date. The increase in sales was amid tight inventory with new listings down 1.7 per cent from March 2015 to 1,579 properties; inventory was down 16.6 per cent year-over-year.
London and St-Thomas Association of Realtors’ president Stacey Evoy commented: “Canada Mortgage and Housing Corporation predicts that 2016 will see more sales than listings. If you are thinking about listing your house, this is the kind of market you’ll want to take advantage of.”
The average price of a home in St. Thomas so far in 2016 stands at $219,822, up 1.4 per cent. The most popular housing type is the two-storey followed by bungalows, ranches, townhouses and apartments.
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