Sales and listing activity moved higher in March. A total of 897 homes were sold in the month representing a 57.4% increase over March 2020. A total of 1,082 properties were listed during the month which represented a 29% increase over the same period last year.
The median sale price in March was up 41.5% when compared to the same period in 2020. All major areas within London saw significant increases in the median sale price. The North and South increased 42% and 40.6% respectively and the East rose 34.2% when compared to March 2020.
The Market Advantage Indicator saw a slight move up to 82.9 in March. The amount of home inventory declined during the month to less than 2 weeks. High demand for homes in London and the surrounding area continues to be driven by historic low-interest rates and migration of out-of-market buyers/investors into the area.
Creating a successful seller/buyer’s strategy starts with obtaining your mortgage pre-approval. Once you are confident in the mortgage amount that you can financially support then we will focus our efforts on selling your existing home and/or looking for the home that meets your needs. Text or call me at 519-777-6521 and we can start the process rolling.
Bye for Now,