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Real Estate Market Update: March 2019

 

Here is the London Real Estate Market Update for March 2019. LSTAR (The London and St Thomas Association of Realtors) statistical report show 814 homes were sold in March. This is an increase of  0.4% over March 2018. 

The LSTAR President offered the following comments “We’ve had a very strong start to the first quarter of 2019, with steady home sales all across our region. Just three months into the year, there have been 1,939 home resales, which is an increase of 6.0% over the same period last year. If you’re considering listing your home in the marketplace, it’s a great time to get in touch with your local REALTOR®.”

Market Trends In London

 1,411 active listings in the marketplace

14.5% more than March of 2018

St. Thomas had an active listings increase by 51.1%

London North saw a 51.0% increase

Middlesex County saw a 20.1% increase

Average Home Prices Across The London Region

 

 

Average Sales Price Across Canada

 

 

Breakdown By Property Type

 

 

 

Did You Know

According to a research report1, a total of $67,425 in ancillary expenditures is generated by the average housing transaction in Ontario over a period of three years from the date of purchase. “The business of real estate continues to be one of the leading drivers of the economy, right here in our backyard and across the country,” Taylor said. “Based on the March home resales, that’s generating potentially almost $55 million back into the economy, over the next several years.”