Market Updates

May 5, 2022

Median Home Price Drops 9.3%

Chris Bramwell Market Report May 2022

The median home price was up 19.2% in April when compared to the same period in 2021. However, the current year's median price data tells a different story. Since the high in February of 2022, the median home price declined slightly in March, followed by a further 9 ...

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Posted in Market Updates
April 6, 2022

Signs of a Market Shift

Chris Bramwell April 2022 Market Report

 

Sales continued to decline in March (-14.7%) and during the first quarter (-8.2%) when compared to the same period in 2021. Listing activity was up slightly during the month and for the first three months of this year. I am starting to see some signs of a ...

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Posted in Market Updates
March 4, 2022

Demand Drives Home Prices

Chris Bramwell Market Report February 2022

The looming threat of a hike in interest rates by the Bank of Canada had no effect on the London market in February. The BOC anticipated a slow rise in interest rates, which started on March 2nd, which may impact the demand but not until later in 2022. The attached ...

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Posted in Market Updates
Feb. 4, 2022

Winter Chills and a Hot Market

Chris Bramwell January 2022 Market Report

The median home price in London was up 31.4 % when compared to January 2021. The median home price rose the most in the East area (51.6%) versus January 2021. The North increased by 28.1% and the South had a relatively modest increase of 14.3%. A bright ...

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Posted in Market Updates
Jan. 7, 2022

Prices Continue to Rise

Chris Bramwell December 2021 Market Report Image

Home prices continue to rise with the median price increasing 31.0% in December when compared to the same period in 2020. All London market areas show similar percentage increases when compared to the same period last year. The Market Advantage Indicator jumped again to 127.0, highlighting the continuing ...

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Posted in Market Updates
Dec. 8, 2021

Low Housing Inventory Drives Prices Up

Chris Bramwell November 2021 Market Report

The median home price in London increased to $637,500 in November. This represented a 28.8% rise when compared to November 2020. All three regions increased their median home price in the range between 23.4% to 28.4% in comparison to the same period last year. The continuing ...

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Posted in Market Updates
Nov. 4, 2021

BOC Hastens Timing of Rate Hike

Chris Bramwell October 2021 Market Report

The Bank of Canada has indicated that it might accelerate its plan to increase interests rates as soon as the second quarter of 2022.  The primary driver of the BOC’s shift in direction is the risk that inflation will exceed the BOC target range.  Please review the attached ...

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Posted in Market Updates
Oct. 7, 2021

Housing Shortage Drives Home Price Increase

Chris Bramwell September Market Report Image

The median home price in London increased to $603,000 in September.  This represented a 24.3% rise when compared to September 2020.  East London continued its rapid rise with the median home price up 29.2% over the same period in 2020.  North and South London ...

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Posted in Market Updates
Aug. 5, 2021

Hot Summer – Cooler Market

Chris Bramwell August 2021 Market Report

The median price rose 27.2% as compared to July 2020 but the current year trends indicate the median sales price may be stabilizing. The market reached a high in March 2021 and since then, has marginally declined this year, for four straight months. South London had the lowest monthly ...

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Posted in Market Updates
July 8, 2021

London Home Prices Stabilize

Chris Bramwell June 2021 Market Report

The rise in the median home price started to taper off in June. The median price rose 30.5% as compared to June 2020 but dropped to levels we haven’t seen since February of this year. One month does not make a trend however, I am cautiously optimistic that prices ...

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Posted in Market Updates