The Southern Ontario housing market of London-St Thomas has recorded another month of record sales, its sixth consecutive monthly high.
While national home sales may have taken a backward step, members of the London-St Thomas Association of Realtors sold 1,245 homes last month, the highest figure for June since it began tracking sales in 1978.
"Although activity has started to slow down in other municipalities, Realtors across London and St. Thomas continue to receive interest from outside the region,” said Jim Smith, LSTAR President. “Our marketplace continues to be very strong, with year-to-date home sales more than 23% ahead of 2016."
Overall sales were up almost 10%, led by a 15.4% surge for condos with single-family homes up 8.6%. Year-to-date sales of 6,542 is a 23.2% rise from the same period of 2016.
The average sales price of $335,233 was down 2.8% from May but the year-to-date average was $331,524, up 18.8% compared to the same period of 2016. Listings were up 9% in June from a year earlier.
"The summer season is in full swing and we understand contractors throughout the region are in high demand," Smith said. "Renovation projects may help homeowners to add value to their properties, spurring healthy activity for local small businesses and merchants, contributing further to the economic growth of our communities."
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: