Chris Bramwell Market Report August 2021

The median home price was up 23.7% in August when compared to the same period in 2020. However, the current year's median price data tells a different story. Since the high in March of 2021, the median home price has declined slightly for five consecutive months. This indicates that the market is starting to stabilize. The Market Advantage Indicator jumped to a yearly high of 94.6 due to the fact that the number of listed properties declined more rapidly than the number of homes sold during the month. This shows that the market cooled a little in August. The Months of Inventory also declined to .5 months, providing a limited selection of homes for Buyers to review. The Listed Properties Days on Market remained the same in comparison to last month, illustrating how fast-paced the market still remains.

The federal election is in full gear and the parties are offering Canadians their solutions to address the real estate market. Ontario Real Estate Association (OREA) has consolidated the policy platforms in this article. https://www.orea.com/News-and-Events/News-and-Press-Releases/Press-Releases/September-2-2021

Successfully navigating through the selling and buying process in London requires that you select a local Realtor that you trust. Someone who knows the London market and can create a strategy that will meet or exceed your expectations. If you are planning to sell and/or buy a home in the next few months, please contact me and we can start the process rolling. Text or call me at (519) 777-6521.

Chris Bramwell Market Report August 2021