It's not just another record month for home sales, March is THE Record Month! A total of 1,242 homes were sold in London, up 44% over the same period last year. Since the London and St. Thomas Association of REALTORS(R) (LSTAR) began recording sales data in 1978, we have never seen a March this strong!
"We continue to experience a very robust marketplace, with some very strong year-to-date sales as well," said Jim Smith, LSTAR 2017 President. "After the first quarter of 2017, year-to-date sales are up by 30.4%, compared to 2016. We've been telling consumers who are thinking about putting their home on the market that current conditions are very encouraging. You have to go back to 2004, the only other instance when sales surpassed 1,000 homes in March."
You'll notice that there is still a trend of low supply and high demand, too. Buyers are having an increasingly difficult time finding and purchasing property. Time and again they are making an offer on one, two, or even more properties, only to be out-bid by a competing Buyer. Now, more than ever, is the time to get in touch and start working with a REALTOR(R).
Want to read more? Visit LSTAR for a more detailed breakdown of the numbers.
Alex is a REALTOR(R) with Keller Williams Lifestyles Realty in London, ON.