There were 1,068 sales of homes in the London and St. Thomas market in April, making it the best April ever for the region and only the second April to break the 1,000 mark (it last happened in 2000).
The 10.8 per cent year-over-year increase in sales was despite tightening inventory with new listings down 14.2 per cent and active inventory down 23.3 per cent.
“Our relatively low inventory of listings seems to support the idea that we may, in fact, be moving towards a seller’s market. All that adds up to now being a very smart time to list your home,” advised Stacey Evoy, president of realtors’ association LSTAR.
The average price of all homes sold through LSTAR’s MLS® Year-to-Date stood at $272,663, up 3.1 per cent compared with a year earlier.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: