Best May for sales in London, ON since 2007

“The 1,055 homes sold in May 2015 represented the best May the London market has experienced since 2007. Looking at the market on a month-to-month basis, sales were up 9.4% compared to the previous month of April. Year-over-year the average sale price was up approximately 4.5% to $263,785 in May 2015 vs. $251,680 in May 2014. As well, the sales-to-new-listings ratio was 58% in May which is over the typical 50%-51% range. Overall the London market remains balanced, a trend that has been in place since early to mid 2007, however, May listings were down 3.7% in London and inventory at the end of period was down 2.7%. If this continues, a shift to a seller’s market could be imminent.”

Bob Lyons, London ON - Solidifi Featured EXTRAORDINARY APPRAISER