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

Transcription

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

2 Table of Contents News Release for January Market Report for January 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, Jan. to Jan., a 10-year review 12 MLS Listings, Jan. 1 Dec. 31, a 10-year review 13 MLS Listings, Jan. to Jan., a 10-year review 14 Active MLS Residential Listings, Jan. 1 Dec. 31, a 10-year review 15 Active MLS Residential Listings, Jan. to Jan., 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, Jan. to Jan., a 10-year review 19 Residential Sales for January 20 Average Residential Prices, including London and St. Thomas, Fifteen-Year Condo Review 24 Breakdown by Area 25 Statistical Report (January 2015) Page 2 of 27

3 News Release For Comment: Carl Vandergoot, President, For Background: Betty Doré, Executive Vice-President, London, February 2, 2015 Best January since was off to a good start with the most home sales for a January since 2007, just prior to the Global Financial Meltdown a total of 475. January was also the ninth straight month in a row in which area home sales outstripped those of the previous year. Bear in mind that last year s Polar Vortex put January 2014 s home sales in a bit of a deep freeze, cautions LSTAR President Carl Vandergoot. That s part of the reason this month s figures look so robust. Also up for January were listings by 3.8% -- while inventory -- active listings end of period was down 5.6% for detached homes and up 7% for condos. The market continues balanced. London s Sister City of St. Thomas also fared well last month. Forty nine homes sold in January 2015, making it the best January on record for St. Thomas, again, since 2007, says Vandergoot. The average price of a home in St. Thomas Year to Date stands at $204,644, up 2.4%. The average price of a home in the Association s entire jurisdiction, which includes Middlesex and Elgin Counties, stands at $253,140 Year-to-Date, down a marginal 0.4%, with the average price for a detached home in January standing at $269,895, down 0.3% and that of condos at $186,124,up 1.8%. The average price of a home increased 3.4% in 2014; the price increase held in January House Style Units Average Price Sold 2 storey 118 $325,444 Bungalow 72 $217,565 Ranch 53 $324,379 The best-selling house style in LSTAR s jurisdiction for January 2015 was the twostorey, then the bungalow, followed by ranches, then townhouse condominiums, then high rise apartment condos. Townhouse 49 $169,743 The following table, based on data taken High rise apt. condo 19 $159,932 from CREA s National MLS Report for December 2014 (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 (January 2015) Page 3 of 27

4 City Average Sale $$ Vancouver $852,709 Toronto $581,460 Fraser Valley $521,390 Calgary $511,249 Victoria $500,793 Hamilton-Burlington $445,101 Edmonton $374,408 Kitchener-Waterloo $361,163 Ottawa $358,269 Montreal $347,361 Regina $314,112 Halifax-Dartmouth $270,204 Newfoundland-Labrador $263,089 London St. Thomas $253,140 i CANADA $412,728 These stats are good news not just for REALTORS but for our local economy as a whole, says Vandergoot. According to research by the Altus Group, one job is created for every three real estate transactions and approximately $55,000 in ancillary spending is generated every time a house changes hands in Ontario. 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 Year to Date for January 2015 Statistical Report (January 2015) Page 4 of 27

5 LSTAR S Market Report for January 2015 Market Activity 380 detached homes and 95 condos exchanged hands in January 2015, for a total of 475 transactions. Type of Market Balanced Listings Active detached home listings end of period were down 5.6%. Active condo listings end of period were up 7.0% Total Residential (Detached & Condo) $253,140 up 0.2% ($252,746) All detached homes in LSTAR s jurisdiction $269,895 up 0.9% ($267,544) Average Price January 2015 (Compared to December 2014) All condos in LSTAR S jurisdiction $186,124 up 1.8% ($182,856) All two-storeys in LSTAR s jurisdiction $325,444 down 3.0% ($335,366) All bungalows in LSTAR s jurisdiction $217,565 up 5.3% ($206,532) All ranches in LSTAR S jurisdiction $324,379 up 8.1% ($300,075) All townhouse condos in LSTAR s jurisdiction $169,743 down 3.2% ($175,409) Most Popular in January Two-storeys, then bungalows, then ranches, then townhouse condominiums, then high rise apartment condos. The average price of a home in the Association s entire jurisdiction, which includes Middlesex and Elgin Counties, stands at $253,140 Year-to-Date, down a marginal 0.4%, with the average price for a detached home in January standing at $269,895, down 0.3% and that of condos at $186,124,up 1.8%. The average price of a home increased 3.4% in 2014; the price increase held in January The following table, based on data taken from CREA s National MLS Report for December 2014 (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 $852,709 Victoria $500,793 Fraser Valley $521,390 Toronto $581,460 Calgary $511,249 Hamilton-Burlington $445,101 Ottawa $358,269 Kitchener-Waterloo $361,163 Montreal $347,361 Regina $314,112 Newfoundland & Labrador $263,089 Edmonton $374,408 Halifax-Dartmouth $270,204 London St. Thomas (January 2015) $253,140 1 CANADA $412,728 Market Factors 2015 was off to a good start with the most home sales for a January since 2007, just prior to the Global Financial Meltdown a total of 475. January was also the ninth straight month in a row in which area home sales outstripped those of the previous year. Bear in mind that last year s Polar Vortex put January 2014 s home sales in a bit of a deep freeze, cautions LSTAR President Carl Vandergoot. That s part of the reason this month s figures look so robust. London s Sister City of St. Thomas also fared well last month. Forty nine homes sold in January 2015, making it the best January on record for St. Thomas, again, since 2007, says Vandergoot. The average price of a home in St. Thomas Year to Date stands at $204,644, up 2.4%. Statistical Report (January 2015) Page 5 of 27

6 London and St.Thomas Association of REALTORS Statistical Report for the Month Ending: 31-Jan Monthly Data 2014 Monthly Data DETACHED % CONDO % OTHER TOTAL % DETACHED CONDO OTHER TOTAL Units Sold Dollar Volume $102,559, $17,681, $14,224,050 $134,465, $82,729,097 $11,353,138 $9,961,700 $104,043,935 No.of Listings Year-to Date 2014 Year-to-Date DETACHED % CONDO % OTHER TOTAL % DETACHED CONDO OTHER TOTAL Units Sold Dollar Volume $102,559, $17,681, $14,224,050 $134,465, $82,729,097 $11,353,138 $9,961,700 $104,043,935 No.of Listings , ,428 Active Listings (end of period) Detached Average Price(Month) $269, $262,632 Average Price (YTD) $269, $262,632 Condo Average Price(Month) $186, $169,450 Average Price (YTD) $186, $169,450 Total Residential Average Price(Month) $253, $246,289 Average Price (YTD) $253, $246,289 Statistical Report (January 2015) Page 6 of 27

7 London and St.Thomas Association of REALTORS Residential Statistical Report for the Month Ending: 31-Jan Monthly Data 2014 Monthly Data DETACHED % CONDO % TOTAL % DETACHED CONDO TOTAL Units Sold Dollar Volume $102,559, $17,681, $120,241, $82,729,097 $11,353,138 $94,082,235 No.of Listings Average Price (January) $269,895 $186,124 $253, Average Price (December) $267,544 $182,856 $252, % 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 $102,559, $17,681, $ 120,241, $82,729,097 $11,353,138 $ 94,082,235 No.of Listings Active Listings (end of period) Average Price YTD $269,895 $186,124 $253, Average Price (Dec.31/14)* $270,572 $182,844 $254, RESIDENTIAL STATISTICS Jan 2015 * % Difference in Average Price Year-to-Date Compared to December 31, 2014 Statistical Report (January 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 (January 2015) Page 8 of 27

9 London and St.Thomas Association of REALTORS Statistical Report for the Month Ending: January 31, 2015 ST. THOMAS STATISTICS 2015 Monthly Data 2014 Monthly Data % Units Sold Dollar Volume $10,027, $5,858,600 No.of Listings Active at End Year-to Date 2014 Year-to-Date % Units Sold Dollar Volume $10,027, $5,858,600 No.of Listings Average Price (Jan 2015) $204, Average Price (Jan 2014) Average Price (Dec 2014) $185,828 $202,021 Average Price YTD $204, Average Price (YTD 2014) Average Price (Dec.31/14) * $199,885 $202,021 * Difference in Average Price Year-to-Date Compared to December 31, 2014 Statistical Report (January 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 (January 2015) Page 10 of 27

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

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

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

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

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

16 Active MLS Residential Listings End of Period as of January (10 year review) Statistical Report (January 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 (January 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 (January 2015) Page 18 of 27

19 Total MLS Dollar Volume YTD as of January (10 year review) $109,009,698 $110,873,774 $113,780,842 $68,352,642 $123,011,191 $104,723, ,139, ,830, ,043, ,465,766 Statistical Report (January 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 (January 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 (January 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 (January 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, $247,838 $204,644 $269,895 LSTAR's jurisdiction includes Middlesex and Elgin Counties, home to nearly 500,000 residents. Statistical Report (January 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 (January 2015) Page 24 of 27

25 Statistical Breakdown by Area for January 2015 London Item 2014 Average Sale Price * 2015 Year to Date % NORTH Total Detached North $337,390 $317, % Total Condo North $216,887 $241, % Bungalow North $250,870 $250, % Two Storey North $368,488 $352, % Ranch North $381,435 $330, % Townhouse Condo North $197,262 $237, % SOUTH Total Detached South $287,309 $279, % Total Condo South $163,629 $169, % Bungalow South $217,595 $209, % Two Storey South $354,414 $330, % Ranch South $326,859 $293, % Townhouse Condo South $146,572 $165, % EAST Total Detached East $214,424 $223, % Total Condo East $165,219 $171, % Bungalow East $170,734 $205, % Two Storey East $278,711 $278, % Ranch East $234,324 $205, % Townhouse Condo East $129,194 $119, % * up-to-date figures based on January 1, 2014 to December 31, 2014 Statistical Report (January 2015) Page 25 of 27

26 Statistical Breakdown by Area for January 2015 Elgin Item 2014 Average Sale Price * 2015 Year to Date % Total Detached $224,660 $251, % Total Condo $163,609 $131, % Bungalow $180,449 $218, % Two Storey $344,819 $322, % Ranch $244,528 $272, % Townhouse Condo $182,671 $126, % St. Thomas Item 2014 Average Sale Price * 2015 Year to Date % Total Detached $198,748 $213, % Total Condo $239,132 $130, % Bungalow $190,335 $244, % Two Storey $240,554 $226, % Ranch $215,933 $182, % Townhouse Condo $225,000 $ % * up-to-date figures based on January 1, 2014 to December 31, 2014 Statistical Report (January 2015) Page 26 of 27

27 Statistical Breakdown by Area for January 2015 Middlesex County Item 2014 Average Sale Price * 2015 Year to Date % Total Detached $322,754 $235, % Total Condo $285,590 $ % Bungalow $241,301 $181, % Two Storey $405,107 $379, % Ranch $357,582 $274, % Townhouse Condo $288,667 $ % Strathroy Item 2014 Average Sale Price * 2015 Year to Date % Total Detached $225,733 $202, % Total Condo $186,108 $ % Bungalow $198,360 $178, % Two Storey $268,971 $ % Ranch $275,598 $215, % Townhouse Condo $120,000 $ % * up-to-date figures based on January 1, 2014 to December 31, 2014 Statistical Report (January 2015) Page 27 of 27