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Market Trends and Home Sales Across London & St. Thomas in 2022
City of London:
Well, we have just finished one of the most tumultuous years in Real Estate history in Canada, driven by rampant worldwide inflation increases, the war in Ukraine and Bank of Canada interest rate hikes virtually every month throughout the year.
What has happened to your home value in the City of London?
Let’s start by looking at the number of sales taking place each month to determine the impact of the interest rate increases from early 2022. The highest volume...
Market Trends and Home Sales Across London & St. Thomas in 2022
City of London:
Well, we have just finished the most tumultuous years in Real Estate History, driven by rampant worldwide inflation increases and Bank of Canada interest rate increases virtually every month throughout the year.
What has happened to your home value in the City of London?
Let’s start by looking at the Number of sales taking place each month to determine the Impact of the interest rate increases since early 2022. The highest volume of home sales in 2022 occurred in...
Your City of London Home Sales Report for July 2022
We are now in one of the strangest housing markets ever experienced. Still experiencing the effects of Covid and coming off one of the highest spending years in Consumer history in 2021 we are now facing record inflation. Supply lines to the end user are still recovering their momentum and the Bank of Canada is pushing to 3.5% lending rates to the Big Banks and about to increase again.
Americans are not affected the same as Canadians as they have 30-year locked in mortgages. We...
This is your overview for February for our city. Sales in both January and February virtually matched the sales for the same period a year ago. 401 Homes changed hands in January and 594 homes changed hands in February.
The time it takes to sell the average home across the city has been trending downward since November and December last year where it sat at 11 days. Jn January this timeframe dropped to 10 days in January then down to 9 days in February. This change is driven by...
Your New Detailed 2021 “Year End” Real Estate Summary for London & St. Thomas
CITY OF LONDON:
The number of homes sold increased 15.2% across the city in 2021 over the previous year. 8,029 homes changed hands across London. The number of new listings remained limited based on increasing demand, declining almost 50% in December to 282 new listings across the city.
Based on consumer demand, this drove Months’ Supply down, to about only a month’s supply, this was down from almost 3 months’ supply back at the start of the pandemic....
2020 Sales Results in London St. Thomas
CITY OF LONDON OVERVIEW:
Well, it is time to say goodbye to an incredibly challenging and interesting year of changes in our lives and in our housing market, a market driven by changes to lifestyle because of Covid-19. Highest case counts embrace the city of Toronto. Business Lockdowns have established a large “Work from Home” base across the province. Technologies such as computer video cameras and cell phone video cameras, zoom...
