LOCAL HOUSING SALES DOWN IN FEBRUARY 3/9/2018 10:17:04 AM
Housing sales in the St. Thomas and area were down last month. This coming from the London and St. Thomas Association of Realtors (LSTAR) monthly report which showed area sales down just over 32% from February of last year.
52 homes were sold in St. Thomas last month which is down 25% from the same time last year.
LSTAR President Jeff Nethercott says that while sales were down compared to last year, they are still above the recent trend.
Nethercott says that the value of buying a home in St. Thomas continues to be strong. The average price of a home in St. Thomas was $307,000 which is $50,000 cheaper than the price of a home in London.
While it is tough to predict the future with this being a sellers market, Nethercott is predicting that the prices will continue to go up as long as the number of listings remains low.