By Mark Schadenberg
Now
that the municipal elections are over, the streetscape can again be
dominated by real estate lawn signs.
The
signs are there for a continued strong autumn in sales in southern
Ontario, especially reported numbers both east and west of Woodstock
– the London & St Thomas (LSTAR) market and the
Kitchener-Waterloo area.
In
the LSTAR zone, Realtors had the best October in seven years. It
would follow I would guess, based on the on-going impressive numbers
that the market is leaning to favour sellers over buyers. Usually a
high number of sales is mirrored by a low 'days on market' stat as
properly priced homes in good locations often sell rapidly.
It's
the stale listings – more often than not – that end up selling
for less than the vendor was expecting.
Consumer
confidence is strong, and let's remember when a house sells, the next
items purchased are paint, furniture, light fixtures, appliances,
floor coverings and lawn mowers. Lots of economic indicators are
pushed upward by a strong real estate sector.
In
the LSTAR area, total sales for 10 months in 2014 are 7,474 – up
7.6% over 2013. Wow! The last six months have all been higher in
sales versus 2013.
May 988 +5.0%
June 981 +23.4
July 980 +24.4
August 791 +13.5
September 682 +11.0
October 698 +8.4
LONDON
On-going
low interest rates are key to people picking up home keys at a
lawyer's office. For buyers worrying about a lack of inventory of
homes to view, a balanced market continues somewhat (not really a
contradiction by me) as the LSTAR region had an increase in listings
in October of 8.1% when compared to October of 2013.
Keep
in mind, these are LSTAR stats and the Woodstock-Ingersoll final
tally for October has not been tabulated by the abacus at the board
office at Springbank Avenue North.
Also
included here is a link to the K-W sales table, which displays that
the
Kitchener-Waterloo Association of Realtors recorded 563 sales last
month, up from 481 in October 2013.
LINKS:
Mark
Schadenberg, Sales
Representative
Senior
Real Estate Specialist (SRES designation)
Royal
LePage Triland Realty
757
Dundas St, Woodstock
(519)
537-1553, cell or text
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