UA-198907321-1
top of page
 
 
HOME SALES TAPER OFF IN AUGUST

Last month, 569 homes exchanged hands via the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR), 3.2% fewer than in August 2022. During the same period, 1,212 new listings came on the market, 13.2% more than in the eighth month of 2022. The local housing supply saw a slight increase from 2.9 months of inventory in July to 3.4 months in August.

 

“In August, the local real estate market experienced a lull, with home sales hitting their lowest point since 2014. Whether that was just a simple summer lull or a direct effect of the Bank of Canada's mid-July decision to raise interest rates and their messaging about the lingering above-target inflation, that remains to be determined by the real estate activity we’ll see in the next few months,” said 2023 LSTAR Chair Adam Miller.

With new listings outpacing sales, LSTAR’s overall sales-to-new listings ratio fell to 46.9% in August. “This gave buyers more options and slowed the rate of price growth in our area,” Miller added.

374555501_792177236248934_7722530876186117555_n.jpg
20191102_152635.jpg

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.

bottom of page