The London median home price continued to decline in January. The median price dropped by $14,000.00 from its level in December of last year. The year-to-year comparable shows that the median price dropped below the January 2022 level (-27.1%). All three of the London residential areas showed declines in the median price levels compared to the same period in 2022.
The Market Advantage Indicator showed a more balanced market at 46.3. The number of properties coming onto the market increased by comparison to last month and was also higher than in January 2022. The Months of Inventory levels remained relatively constant at 2.9 months due to the reduced sales activity. The Listed Properties Days on Market dropped from the December 2022 levels to 22.5 days in January.
Developing an effective Sellers or Buyers strategy could not be more important to consumers entering the London market. I would appreciate the opportunity to work with you in creating a plan that will support the move to your next home. Text or call me at 519-777-6521.
