London-area home sales had a strong November

Sales of homes in the London area were 8.5 per cent higher in November than a year earlier. The London-St Thomas Association of Realtors reported sales of 626 homes including 499 detached homes and 127 condos. It was the best November for the market since 2007. Listings were down 8.8 per cent for detached homes and 3.1 per cent for condos while inventory was down 11.6 per cent for detached homes and 3.4 per cent for condos. Association president Carl Vandergoot commented: “the ratio of sales to new listings Year to Date shows us that our market continues balanced.” Year-to-Date the average price of all homes sold through the area’s MLS stood at $264,654, up 4.1 per cent.

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