London, St. Thomas Areas Home Sales Down

The number of homes sold in the jurisdiction of the London and St. Thomas Association of Realtors fell by 34.8 per cent in August from the same month last year, but saw an increase over the previous month. More specifically, 607 residential transactions were recorded last month ‒ 324 less than a year ago, but up by 93 units from July. The sales-to-new listings ratio, which reflects the share of new listings out of the total number of home sales, increased from 41.8 per cent in July to 56.7 per cent in August, moving the market into a more balanced territory. Single-family homes remained on top of the local home buyers’ preferences with 473 units sold.