London 2019 Year to Date – June – Market Trends Update
As we move out of Spring into the summer of 2019, the London Ontario real estate market continues to stabilize. The number of active listings is slowly rising again. Inventory is steady. We are still very much in a seller’s market as the 73.8% “Sales to New Listing” statistic is still significantly above the 50% mark that is a sign of a balanced market. As I have noted previously, as confirmed by the modest 1.4% rise in prices in north London, that the upper end of the market has begun to level off. Average and entry level buyers are still looking for homes priced in the $275,000-$375,000 range — prices more in keeping with where they were in late 2016 before the run up in prices the last two years. They are finding those homes — and condos — in the south and east of London as reflected in the robust year over year increase in average price for both those segments of London.