Home sales in three markets in Ontario, other than the GTA, show mixed results for October as demand for homes struggled to be met.
In the south of the province, there was a record-breaking month for London-St. Thomas while Windsor-Essex Country saw sales slip from a year ago. Meanwhile, there was strong growth for Bruce Grey Owen Sound in the west.
The best October ever for London-St Thomas saw 825 homes sold by London and St. Thomas Association of Realtors, up 18.7 per cent compared to a year earlier.
“The runner up for best October ever was in 2006, when 711 homes exchanged hands,” says Stacey Evoy, LSTAR’s 2016 President. “Not even close!”
Prices were up year-to-date by 5.3 per cent compared to the same period of 2015 with the average sales price at $278,471. Inventory was down by a third.
In Windsor-Essex County, sales and market activity eased in October. Sales were down 6 per cent year-over-year while activity slipped 3.3 per cent.
However, year-to-date figures from Windsor-Essex County Association of Realtors show activity up 1.86 per cent and sales rising 10.6 per cent to 5,911.
Prices continued higher in October, up 14.91 per cent to an average of $230,754.
Finally the Realtors Association of Bruce Grey Owen Sound reported a new record for the month with 277 sales, up 28.2 per cent from a year earlier. The average price rose 7.3 per cent to $262,281 as inventory fell 39.5 per cent.
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