The London St Thomas Real Estate Board saw an extraordinary buyer demand with a continued severe shortage of housing. On average House prices were up nearly $90,000 in January 2022 compared to December 2021 and they have more than doubled the values recorded back in January 2019.
Of the houses sold 93% are selling at over asking with the average over ask at $136,099.
Currently prices are rising by the week and not just a little bit. Each day neighbourhoods are breaking record prices. Each month brings us new challenges. Months that were normally slower in the real estate market are becoming the strongest months. On occasion the busiest months are experiencing softer results.
It is really important to work with a real estate agent who is going to know what is happening daily and not just in the past 6 months. What happend six months ago is old news and not relevant for today’s real estate market. 