Phone: Fax: Commissioners Road, W. London, Ontario N6J 1Y3 STATISTICAL REPORT. (for month ending October 31, 2015)

Transcription

1 Phone: Fax: Commissioners Road, W. London, Ontario N6J 1Y3 STATISTICAL REPORT (for month ending October 31, 2015)

2 Table of Contents News Release for October Market Report for October Statistical Report for the Month Ending 6 Residential Statistical Report for the Month Ending 7 Sales to New Listings Ratio 10 Year Review 8 St. Thomas Statistics 9 St. Thomas Sales by Month 10 MLS Residential Sales, Jan.1 Dec. 31, a 10-year review 11 MLS Residential Sales, Oct. to Oct., a 10-year review 12 MLS Listings, Jan. 1 Dec. 31, a 10-year review 13 MLS Listings, Oct. to Oct., a 10-year review 14 Active MLS Residential Listings, Jan. 1 Dec. 31, a 10-year review 15 Active MLS Residential Listings, Oct. to Oct., a 10-year review 16 Average Residential Price in Association s Jurisdiction 17 Total MLS Dollar Volume, Jan. 1 Dec. 31, a 10-year review 18 Total MLS Dollar Volume, Oct. to Oct., a 10-year review 19 Residential Sales for Month 20 Average Residential Prices, including London and St. Thomas, Fifteen-Year Condo Review 24 Breakdown by Area 25 Statistical Report (October 2015) Page 2 of 27

3 News Release For Comment: Carl Vandergoot, President, For Background: Betty Doré, Executive Vice-President, London, November 2, 2015 Real Estate Sales Hold Steady October 2015 homes sales came in just a hair lower than those of October 2014, the best October since A total of 695 homes exchanged hands last month, just three shy of October 2014, which saw 698 sales. 577 detached homes sold in October, up a marginal 0.9%, while condo sales dropped 6.3%. Total sales were down a very negligible 0.4%. Clearly we ve hit the mark and are holding steady, says Carl Vandergoot, President of the London and St. Thomas Association of REALTORS. Year-to-date sales are up over 2014 by 9.8%. Listings were down for detached homes in October 14.2% for detached homes and 7.5% for condos. Active Listings End or Period (inventory) was also down 11.4% for detached homes and 0.2% for condos. We re keeping a close watch on listings to see if we might be starting to shift into a Sellers market, says Vandergoot. Whether that is the case or not, with listings this low, now is a good time to list. The real estate market continued to perform well in St. Thomas in October. Fifty-five homes sold in that City, making it the best October since The average price of a home in St. Thomas Year-to-Date stands at $217,752 up 8.9%. House Style Units Sold Average Price The best-selling house style in LSTAR s jurisdiction for October 2015 was the twostorey, then the bungalow, followed by 2 storey 167 $388,629 Bungalow 122 $207,455 ranches, then townhouse condominiums, then high rise apartment condos. The Ranch 81 $325,534 average price for a detached home Year-to- Townhouse 53 $151,829 Date stood at $282,585, up 4.4%, while the High rise apt. condo 26 $122,012 average price for a condo over the same period stood at $190,067, up 4%. Year-to- Date the average price of all homes sold through LSTAR s MLS stood at $265,019, up 4.3%. The following table, based on data taken from CREA s National MLS Report for September 2015 (the latest information available), demonstrates how homes in LSTAR s jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centers. Statistical Report (October 2015) Page 3 of 27

4 City Average Sale $$ Vancouver $867,859 Toronto $627,491 Fraser Valley $587,230 Victoria $500,587 Calgary $454,476 Hamilton-Burlington $451,842 Edmonton $376,866 Ottawa $365,304 Montreal $355,058 Saskatoon $328,058 Regina $309,042 Newfoundland-Labrador $268,614 London St. Thomas $265,019 i CANADA $434,033 According to recent research conducted by the Altus Group, one job is created for every three real estate transactions and approximately $52,000 in ancillary spending is generated every time a house changes hands in Ontario. That means October 2015 s home sales spun approximately $36,140,000 into our local economy and created approximately 231 jobs, says Vandergoot. The more transactions REALTORS facilitate, the better it is for everybody. The London and St. Thomas Association of REALTORS (LSTAR) exists to provide our REALTOR Members with the support and tools they need to succeed in their profession. LSTAR is one of Canada s fifteen largest real estate associations, representing 1,500 REALTORS working in Middlesex and Elgin Counties, a trading area of 500,000 residents. LSTAR adheres to a Quality of Life philosophy, supporting growth that fosters economic vitality, provides housing opportunities, respects the environment and builds good communities and safe neighbourhoods and is a proud participant in the REALTORS Care Foundation s Every REALTOR Campaign. i Average Price Overall for October 2015 Statistical Report (October 2015) Page 4 of 27

5 LSTAR S Market Report for October 2015 Market Activity 577 detached homes and 118 condos exchanged hands in October 2015, for a total of 695 transactions. Type of Market Balanced Listings Active detached home listings end of period were down 11.4%. Active condo listings end of period were down 0.2% Total Residential (Detached & Condo) $267,389 up 1.4% ($263,701) All detached homes in LSTAR s jurisdiction $286,029 up 2.1% ($280,124) Average Price October 2015 (Compared to September 2015) All condos in LSTAR S jurisdiction $176,240 down 6.3% ($188,157) All two-storeys in LSTAR s jurisdiction $388,629 up 6.6% ($364,710) All bungalows in LSTAR s jurisdiction $207,455 up 0.8% ($205,910) All ranches in LSTAR S jurisdiction $325,534 up 2.2% ($318,393) All townhouse condos in LSTAR s jurisdiction $151,829 down 2.0% ($154,951) Most Popular in October Two-storeys, then bungalows, then ranches, then townhouse condominiums, then high rise apartment condos. Listings were down for detached homes in October 14.2% for detached homes and 7.5% for condos. Active Listings End or Period (inventory) was also down 11.4% for detached homes and 0.2% for condos. We re keeping a close watch on listings to see if we might be starting to shift into a Sellers market, says Vandergoot. Whether that is the case or not, with listings this low, now is a good time to list. The real estate market continued to perform well in St. Thomas in October. Fifty-five homes sold in that City, making it the best October since The average price of a home in St. Thomas Year-to-Date stands at $217,752 up 8.9%. The following table, based on data taken from CREA s National MLS Report for September 2015 (the latest information available), demonstrates how homes in LSTAR s jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centers. Affordability City Average Sale $$ Vancouver $867,859 Toronto $627,491 Fraser Valley $587,230 Victoria $500,587 Calgary $454,476 Hamilton-Burlington $451,842 Edmonton $376,866 Ottawa $365,304 Montreal $355,058 Saskatoon $328,058 Regina $309,042 Newfoundland & Labrador $268,614 London St. Thomas (October 2015) $265,019 CANADA $434,033 Market Factors October 2015 homes sales came in just a hair lower than those of October 2014, the best October since A total of 695 homes exchanged hands last month, just three shy of October 2014, which saw 698 sales. 577 detached homes sold in October, up a marginal 0.9%, while condo sales dropped 6.3%. Total sales were down a very negligible 0.4%. Clearly we ve hit the mark and are holding steady, says Carl Vandergoot, President of the London and St. Thomas Association of REALTORS. Year-to-date sales are up over 2014 by 9.8%. Statistical Report (October 2015) Page 5 of 27

6 London and St.Thomas Association of REALTORS Statistical Report for the Month Ending: 31-Oct Monthly Data 2014 Monthly Data DETACHED % CONDO % OTHER TOTAL % DETACHED CONDO OTHER TOTAL Units Sold Dollar Volume $165,038, $20,796, $20,691,850 $206,526, $150,440,443 $24,106,401 $19,483,100 $194,029,944 No.of Listings Year-to Date 2014 Year-to-Date DETACHED % CONDO % OTHER TOTAL % DETACHED CONDO OTHER TOTAL Units Sold Dollar Volume $1,878,623, $296,125, $198,158,321 $2,372,906, $1,640,513,722 $259,209,314 $186,347,894 $2,086,070,930 No.of Listings , ,537 Active Listings (end of period) Detached Average Price(Month) $286, $263,008 Average Price (YTD) $282, $270,935 Condo Average Price(Month) $176, $191,321 Average Price (YTD) $190, $182,670 Total Residential Average Price(Month) $267, $250,067 Average Price (YTD) $265, $254,178 Statistical Report (October 2015) Page 6 of 27

7 London and St.Thomas Association of REALTORS Residential Statistical Report for the Month Ending: 31-Oct Monthly Data 2014 Monthly Data DETACHED % CONDO % TOTAL % DETACHED CONDO TOTAL Units Sold Dollar Volume $165,038, $20,796, $185,835, $150,440,443 $24,106,401 $174,546,844 No.of Listings Average Price (October) $286,029 $176,240 $267, Average Price (September) $280,124 $188,157 $263, % Difference in Average Price in Current Month Compared to Previous Month 2015 Year-to-Date 2014 Year-to-Date DETACHED % CONDO % TOTAL % DETACHED CONDO TOTAL Units Sold Dollar Volume $1,878,623, $296,125, $ 2,174,748, $1,640,513,722 $259,209,314 $ 1,899,723,036 No.of Listings Active Listings (end of period) Average Price YTD $282,585 $190,067 $265, Average Price (Dec.31/14)* $270,572 $182,844 $254, RESIDENTIAL STATISTICS October 2015 * % Difference in Average Price Year-to-Date Compared to December 31, 2014 Statistical Report (October 2015) Page 7 of 27

8 Sales to New Listings Ratio (10 Year Review) 100.0% 90.0% Sellers Market 80.0% 70.0% 60.0% 50.0% Balanced Market 40.0% 30.0% 20.0% Buyers Market 10.0% 0.0% Statistical Report (October 2015) Page 8 of 27

9 London and St.Thomas Association of REALTORS Statistical Report for the Month Ending: October 31, 2015 ST. THOMAS STATISTICS 2015 Monthly Data 2014 Monthly Data % Units Sold Dollar Volume $10,964, $10,086,312 No.of Listings Active at End Year-to Date 2014 Year-to-Date % Units Sold Dollar Volume $155,039, $123,388,928 No.of Listings Average Price (Oct 2015) $199, Average Price (Oct 2014) Average Price (Sept 2015) $223,507 $205,843 Average Price YTD $217, Average Price (YTD 2014) Average Price (Dec.31/14) * $199,885 $202,609 * Difference in Average Price Year-to-Date Compared to December 31, 2014 Statistical Report (October 2015) Page 9 of 27

10 ST. THOMAS Sales by Month YEAR JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBEROCTOBER NOVEMBERDECEMBER TOTAL Year Average ( ) Statistical Report (October 2015) Page 10 of 27

11 MLS Residential Sales (Jan. 1 to Dec. 31 a 10 year review) Statistical Report (October 2015) Page 11 of 27

12 MLS Residential Sales (October YTD a 10 year review) Statistical Report (October 2015) Page 12 of 27

13 MLS Residential Listings (Jan. 1 to Dec. 31 a 10 year review) Statistical Report (October 2015) Page 13 of 27

14 MLS Residential Listings (October YTD a 10 year review) Statistical Report (October 2015) Page 14 of 27

15 Active MLS Residential Listings End of Period (10 year review) Statistical Report (October 2015) Page 15 of 27

16 Active MLS Residential Listings End of Period as of October (10 year review) Statistical Report (October 2015) Page 16 of 27

17 Average Residential Price in Association s Jurisdiction (10 year review) $178,058 $188,942 $202,256 $210,888 $213,402 $227,056 $232,387 $238,822 $245,737 $254,141 Statistical Report (October 2015) Page 17 of 27

18 Total MLS Dollar Volume (10 year review) ,730,728,695 1,857,909,942 2,083,113,745 1,922,848,300 1,874,879,343 2,044,092,298 2,058,184,156 2,145,684,491 2,138,447,904 2,397,211,776 Statistical Report (October 2015) Page 18 of 27

19 Total MLS Dollar Volume YTD as of October (10 year review) ,634,015,565 1,848,437,849 1,776,985,177 1,622,355,778 1,796,804,790 1,804,939,461 1,905,887,202 1,875,150,028 2,086,070,930 2,372,906,926 Statistical Report (October 2015) Page 19 of 27

20 RESIDENTIAL SALES BY MONTH 2015 YEAR Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Total YTD 5 Year Average: Condos 5 Year Average: Detached Condo Detached Condo Detached Condo Detached Condo Detached Condo Detached Condo Detached Statistical Report (October 2015) Page 20 of 27

21 RESIDENTIAL SALES BY MONTH 2015 YEAR Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Total YTD Condo Detached Condo Detached Condo Detached Condo Detached Condo Detached Condo Detached Condo Detached Condo Detached Statistical Report (October 2015) Page 21 of 27

22 RESIDENTIAL SALES BY MONTH 2015 YEAR Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Total YTD Statistical Report (October 2015) Page 22 of 27

23 Year Average Residential Prices to 2015 YTD Average Price (London) Average Price (St. Thomas) Average Price (Area) 1987 $106,300 $72,892 $97, $117,695 $90,887 $111, $134,960 $101,108 $128, $141,919 $106,202 $134, $143,306 $106,134 $134, $141,764 $112,088 $135, $139,311 $106,843 $133, $138,279 $111,823 $134, $131,954 $109,019 $127, $129,817 $107,005 $127, $132,838 $111,957 $130, $133,525 $109,378 $129, $133,033 $116,297 $131, $135,996 $115,994 $134, $137,820 $114,257 $136, $143,007 $121,470 $142, $155,148 $129,349 $152, $169,022 $141,989 $166, $178,899 $155,595 $178, $193,087 $162,250 $188, $208,865 $172,550 $202, $211,323 $187,361 $210, $214,769 $182,450 $213, $231,020 $182,719 $227, $238,238 $189,413 $232, $240,370 $191,607 $238, $246,919 $201,586 $245, $256,154 $199,885 $254, $266,411 $217,752 $265,019 LSTAR's jurisdiction includes Middlesex and Elgin Counties, home to nearly 500,000 residents. Statistical Report (October 2015) Page 23 of 27

24 Condos 15 Year Review Year Total % Increase Average Price Townhouse % Increase Average Price $96, $91, $96, $92, $102, $98, $111, $101, $120, $111, $126, $123, $138, $131, $146, $136, $151, $145, $158, $146, $171, $155, $179, $157, $171, $154, $178, $159, $182, $161,241 Statistical Report (October 2015) Page 24 of 27

25 Statistical Breakdown by Area for October 2015 London Item 2014 Average Sale Price * 2015 Year to Date % NORTH Total Detached North $337,390 $344, % Total Condo North $216,887 $227, % Bungalow North $250,870 $267, % Two Storey North $368,488 $376, % Ranch North $381,435 $386, % Townhouse Condo North $197,262 $200, % SOUTH Total Detached South $287,309 $305, % Total Condo South $163,629 $170, % Bungalow South $217,595 $238, % Two Storey South $354,414 $371, % Ranch South $326,859 $338, % Townhouse Condo South $146,572 $151, % EAST Total Detached East $214,424 $223, % Total Condo East $165,219 $162, % Bungalow East $170,734 $174, % Two Storey East $278,711 $296, %. Ranch East $234,324 $220, % Townhouse Condo East $129,194 $125, % * up-to-date figures based on January 1, 2014 to December 31, 2014 Statistical Report (October 2015) Page 25 of 27

26 Statistical Breakdown by Area for October 2015 Elgin Item 2014 Average Sale Price * 2015 Year to Date % Total Detached $224,660 $241, % Total Condo $163,609 $166, % Bungalow $180,449 $186, % Two Storey $344,819 $327, % Ranch $244,528 $276, % Townhouse Condo $182,671 $169, % St. Thomas Item 2014 Average Sale Price * 2015 Year to Date % Total Detached $198,748 $211, % Total Condo $239,132 $250, % Bungalow $190,335 $200, % Two Storey $240,554 $260, % Ranch $215,933 $221, % Townhouse Condo $225,000 $ % * up-to-date figures based on January 1, 2014 to December 31, 2014 Statistical Report (October 2015) Page 26 of 27

27 Statistical Breakdown by Area for October 2015 Middlesex County Item 2014 Average Sale Price * 2015 Year to Date % Total Detached $322,754 $322, % Total Condo $285,590 $313, % Bungalow $241,301 $238, % Two Storey $405,107 $420, % Ranch $357,582 $343, % Townhouse Condo $288,667 $244, % Strathroy Item 2014 Average Sale Price * 2015 Year to Date % Total Detached $225,733 $243, % Total Condo $186,108 $232, % Bungalow $198,360 $219, % Two Storey $268,971 $279, % Ranch $275,598 $304, % Townhouse Condo $120,000 $136, % * up-to-date figures based on January 1, 2014 to December 31, 2014 Statistical Report (October 2015) Page 27 of 27