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Market Monday Monthly recap for May!

LONDON is HOT!

According to the London and St Thomas Associationof REALTORS (LSTAR) a total to 1539 homes were sold in May! That’s increase of 33.4% of the same period last year. for the fifth month in a row this is the highest monthly home sales ever recorded (since 1978)

This year to date home sales are up 27% ahead of 2016, the average sale price across London and St Thomas was $344,815 for the month of May over the average sale price of $279,057.

The average price for a detached home in May was $372,163 and the average condominium was $244,619. We are still Under the average sale price for Canada ($536,028) and Much lower than Toronto’s average of $877,854. With Lower average sales price and an increase of 19.1% on the average sale price London is a great place to invest.

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