Third Quarter Residential Sales up 13 % in London Area

Residential Activity

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Home sales in London posted a year-over-year increase in the third quarter of 2011. Residential sales totaled 2,264 units in the third quarter, up 15 per cent from activity in the same period in 2010.   Single detached home sales numbered 1,498 units in the third quarter of 2011, an increase of 13 per cent from year-ago levels.   The number of months of inventory for single detached home sales was down from a year ago in the third quarter of 2011, falling to five months from 5.7 months a year earlier.   The median sale price for single detached homes edged up two per cent from year-ago levels to $227,000 in the third quarter of 2011. Single Detached Category Q3 2011 Q3 2010 Year-over-year percentage change Unit sales 1,498 1,325 +13 Median sale price ($) 227,000 222,000 +2

Source: CREAstats

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