london-ontario

BRIAN

SINGH

 

SALES REPRESENTATIVE

Local housing market shatters new records!

 

In January 2021, the aggregate average price for the entire jurisdiction of LSTAR sat at $607,431, also an all-time high for our area.

An important measure of the health and sustainability of a housing market is inventory, which shows how long it would take to liquidate the existing supply at the current rate of sales activity.

"At the end of January, there were 0.8 months of inventory across the entire LSTAR area, slightly higher than in December, but still at one of the lowest levels in the past 10 years," Lane said. "Out of the five main areas, St. Thomas had the lowest housing supply, with only 0.5 months of inventory, while London's and Strathroy's values were at 0.7 months, on par with the whole region," he added.

Another important measure is the sales-to-new listings ratio. It was 81.9% for LSTAR, which the Canadian Real Estate Association (CREA) says represents conditions in the marketplace that favour sellers (a ratio between 40% and 60% is generally consistent with a balanced market). LSTAR’s five areas all recorded sales-to-new listings ratios over 60%, with the highest seen in Strathroy at 138.1% and the lowest in Elgin County at 66.7%.

Out of the 547 houses sold last month by LSTAR REALTORS®, 413 were single-family homes, 57 were townhouses and 57 were apartments. The table below shows the December benchmark prices for all house types and how they stack up against the values from a year ago.

NEW LISTING

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WHY USE A REALTOR?

WHAT MY CLIENTS THINK

"Brian has gone above and beyond the sale of my house. He is genuine, honest and straight forward. I have already given his name out to a few friends if they ever need a realtor."

"Brian was a great asset to me in the purchasing of my first new property by going above and beyond what I imagined. I’m extremely happy with the entire process. Even after the sale Brian continued to support me with advice and tips as new first home buyer. Brian’s knowledge in this sector made everything easy and fun!"

- Barbara S.

- Damian B.

"Brian put my needs first. Took care of all my questions and was very prompt and professional. I would highly refer Brian to other homeowners looking to sell."

- Justin L.

Century 21 Canada Limited Partnership currently has franchise opportunities available in select markets across Canada. The intent of this communication is for informational purposes only and is not intended to be a solicitation to anyone under contract with another real estate brokerage organization. CENTURY 21® is a registered trademark owned by Century 21 Real Estate LLC, used under license. Each office is independently owned and operated. ®(™) Registered trademarks of Century 21 Real Estate LLC used under license.

The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA.