Road Construction in London Ontario, A Heads Up!

The London Free Press is calling road related work in London alone 'The mother of all construction seasons' with a record 150 million being allocated.Orange pylons, not daffodils and tulips will signal the spring season.

Do not despair! If you go to www.london.ca/construction an interactive website awaits you and you will know where construction in London is on any given day.

Another way to avoid traffic when looking to purchase real estate in London  is to have me drive you around. I can curse in 14 languages, have  a multitude of finger signals and have a GPS and know before hand where the construction is. lol

Ty Lacroix Broker of Record & Owner

          

'NOT ALL REALTORS* ARE THE SAME', One call or email to me and you will know why!

Your London and S/W Ontario source for results!

519-435-1600   www.enveloperealestate.com

0 comments • Ty Lacroix • March 11 2010 12:40PM

London Resale Home Prices Sluggish

London Ontario's real estate values will lag much of the country in the next few months reports the Conference Board of Canada.

Their Metro Resale Index Report  says that this year in the second quarter the price of resale homes in London will climb up to 3% compared to 7-11% in other major Ontario cities.

To most of us in London that does not surprise us as we know that for years London has been under-valued compared to other similar sized cities. Uneployment and not able to attract new industries are stated as the main culprits.

One of the many positives that London has to offer, I think this is one of them! Investors, flippers and speculators are not creating a buy frenzie for short term gains. Long term real estate investors do well as do families who plan to stay in their home for 4 or more years.

For real estate trends and factual information about the London Real Estate Market, I am just a click away!

Ty Lacroix Broker of Record & Owner

          

'NOT ALL REALTORS* ARE THE SAME', One call or email to me and you will know why!

Your London and S/W Ontario source for results!

519-435-1600   www.enveloperealestate.com

4 comments • Ty Lacroix • February 21 2010 12:59PM

January 2010 Was a Good Month For Real Estate in London & St.Thomas

 472 homes exchanged hands in the jurisdiction of the London and St.Thomas Association of REALTORS(LSTAR). The ten-year average for January home sales is 450 so we are in a stable market with February being quite promising.

This month's sales include 377 detached homes and 95 condos. The average price of a detached London home in January 2010 was $235,416, up 3.1% over December 2009, while the average price of a condo rose 7.3% to $172,722. The average price of total residential (both detached and condo) was up 3.5% over December, 2009 to $222,798. Over the last three years the average year to date residential prices in our jurisdiction was2009 $213,402, for  2008 $210,888 and for 2007 $202,256.

The best-selling house style in LSTAR's jurisdiction for the month of January was the two-storey, followed by the bungalow, the ranch, and the townhouse condo.

London's real estate affordability remains healthy compared to the following Canadian cities average house prices:

London and St. Thomas, $222,798;

􀂃 Calgary, $383,998;

􀂃 Durham Region, $277,309;

􀂃 Edmonton, $320,585;

􀂃 Hamilton-Burlington and District, $289,483;

􀂃 Kitchener-Waterloo, $269,443;

􀂃 Ottawa, $303,788;

􀂃 St. Catharine's & District, $223,861;

􀂃 Toronto, $392,823; and

􀂃 Greater Vancouver, $586,401.For more details on a particular London neighbourhood or house style, feel free to contact me.

Ty Lacroix Broker of Record & Owner

          

'NOT ALL REALTORS* ARE THE SAME', One call or email to me and you will know why!

Your London and S/W Ontario source for results!

519-435-1600   www.enveloperealestate.com

4 comments • Ty Lacroix • February 06 2010 07:25AM

51.3% Increase Over November Home Sales in London Ontario

51.3% Increase Over November Home Sales in London Ontario

       584 homes exchanged hands in the jurisdiction of the London and St. Thomas Association of REALTORS® (LSTAR), a 51.3-per-cent increase over November 2008.

    This included 485 detached homes (up 62.2 per cent from November 2008) and 99 condos (up 13.8 per cent from November 2008).

 Year to date, 6,208 detached homes and 1,424 condos have been sold in the London area - down 3.5 per cent and down 13.2 per cent respectively compared to the same period in 2008.

 Year to date, sales are down 5.5 per cent overall compared to 2008.

         Sales in St. Thomas also saw gains - 57 homes exchanged hands in November 2009, a 128-per-cent increase over November 2008!

     The average residential price in the Association's jurisdiction for the month of November is up 4.3 per cent to $215,317

 The number of sales and average prices year-to-date for November 2009 were:

 

 

Type

Units Sold

Average Price

% Change from YTD 2008

Total Detached

6,208

$225,871

-0.4

Total Condo

1,424

$158,478

3.9

Total Residential

7,632

$213,297

0.7

 

 

 

 

 

 

The best-selling house style in LSTAR's jurisdiction for the month of November was the two-storey, followed by the bungalow, the ranch, and the townhouse condo.

According to the Canadian Real Estate Association's Residential MLS Report for October 2009 (the most current available), the average price year-to-date for:

  London and St. Thomas was $214,385;

 Calgary was $383,998;

 Durham Region was $277,309;

  Edmonton was $320,585;

 Hamilton-Burlington and District was $289,483;

 Kitchener-Waterloo was $269,443;

 Ottawa was $303,788;

 St. Catharines & District was $223,861;

 Toronto was $392,823; and

 Greater Vancouver was $586,401.

                                             What Does All This Mean?

         If you are waiting for prices to drop before you purchase a home in London it is not going to happen and if you are thinking of putting your house or condo on the market in London the timing is great!

       Keep in mind however that consumers have a tremendous amount of information regarding neighbourhood prices and comparisons. Mr. and Mrs. Market are never wrong!

Ty

Ty Lacroix Broker of Record & Owner

          

'NOT ALL REALTORS* ARE THE SAME', One call or email to me and you will know why!

Your London and S/W Ontario source for results!

519-435-1600   www.enveloperealestate.com

4 comments • Ty Lacroix • December 06 2009 11:44AM