Sales and listing activity moved higher in June. A total of 748 homes were sold in the month representing a 4.9% increase over June 2019. A total of 1,015 properties were listed during the month which represented a 4.7% increase over the same period last year. Changes in the CMHA insurance credit approval standards, effective July 1st, and low interest rates contributed to the increase in activity.
The average sale price in June was up 19.1% when compared to the same period in 2019. All major areas within London saw significant increases in the average sale price. The East and North increased approximately 15.5% and the South rose 24.1% when compared to June 2019.
The Market Advantage Indicator saw a significant move to 73.7 in June. The amount of home inventory declined during the month to its lowest level during 2020. This signals a return to the highly competitive environment for Buyer’s that we witnessed during 2019.
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.
