House Sales in London & St.Thomas Were Quite Good in January 2010

 472 homes exchanged hands in the jurisdiction of the London and St.Thomas Association of REALTORS(LSTAR). The ten-year average for January home sales is 450 so we are in a stable market with February being quite promising.

This month's sales include 377 detached homes and 95 condos. The average price of a detached London home in January 2010 was $235,416, up 3.1% over December 2009, while the average price of a condo rose 7.3% to $172,722. The average price of total residential (both detached and condo) was up 3.5% over December, 2009 to $222,798. Over the last three years the average year to date residential prices in our jurisdiction was2009 $213,402, for  2008 $210,888 and for 2007 $202,256.

The best-selling house style in LSTAR's jurisdiction for the month of January was the two-storey, followed by the bungalow, the ranch, and the townhouse condo.

London's real estate affordability remains healthy compared to the following Canadian cities average house prices:

London and St. Thomas, $222,798;

􀂃 Calgary, $383,998;

􀂃 Durham Region, $277,309;

􀂃 Edmonton, $320,585;

􀂃 Hamilton-Burlington and District, $289,483;

􀂃 Kitchener-Waterloo, $269,443;

􀂃 Ottawa, $303,788;

􀂃 St. Catharine's & District, $223,861;

􀂃 Toronto, $392,823; and

􀂃 Greater Vancouver, $586,401.For more details on a particular London neighbourhood or house style, feel free to contact me.