Phone: Fax: Commissioners Road, W. London, Ontario N6J 1Y3 STATISTICAL REPORT. (for month ending April 30, 2014)

Transcription

1 Phone: Fax: Commissioners Road, W. London, Ontario N6J 1Y3 STATISTICAL REPORT (for month ending April 30, 2014)

2 Table of Contents News Release for April Market Report for April 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, Apr. to Apr., a 10-year review 12 MLS Listings, Jan. 1 Dec. 31, a 10-year review 13 MLS Listings, Apr. to Apr., a 10-year review 14 Active MLS Residential Listings, Jan. 1 Dec. 31, a 10-year review 15 Active MLS Residential Listings, Apr. to Apr., 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, Apr. to Apr., a 10-year review 19 Residential Sales by April 20 Average Residential Prices, including London and St. Thomas, Fifteen-Year Condo Review 24 Breakdown by Area 25 Statistical Report (April 2014) Page 2 of 27

3 News Release For Comment: Jim Holody, President, For Background: Betty Doré, Executive Vice-President, London, May 2, 2014 Condos rebound in April April saw the condo market rebound to more normal levels. 170 condos sold last month, up 18.1% from the previous year. The market for condos has been unusually slow over the last year, says Jim Holody, President of the London and St. Thomas Association of REALTORS. However, the five year average for condo sales in April is 158.2, so we re not far in excess of that. This apparent uptick in sales is probably more like a market correction. Detached homes did not fare as well last month. 666 detached homes sold in April, down 7.5%. The five year average for detached homes in April is When you take that into consideration, the numbers are down, but not dramatically, says Holody. Total home sales are down 3.2 for the month. Overall listings for the month were down 2.2%, while inventory active listings end of period -- were up 0.9%. The local market continues to be a balanced one. The City of St. Thomas saw 77 homes exchange hands in April, up 1 sale over Listings were up 5.5% and the average price for a home in St. Thomas, Year to Date, stands at $201,249, up 6% compared to December 31, The average price of a detached home in LSTAR s jurisdiction Year to Date stands at $266,536, up 2.1% compared to December 31, 2013, while the price of a condo dropped 2% to $174,680. The average price for all homes sold in LSTAR s jurisdiction Year to Date was $248,675, up 1.2%.. The following table, based on data taken from CREA s National MLS Report for March2014 (the latest information available), demonstrates how homes in LSTAR s jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centers. City Average Sale $$ Vancouver $791,560 Toronto $547,757 Fraser Valley $500,033 Victoria $486,670 Calgary $477,259 Hamilton-Burlington $403,908 Statistical Report (April 2014) Page 3 of 27

4 City Average Sale $$ Edmonton $356,141 Ottawa $349,407 Regina $344,389 Kitchener-Waterloo $342,274 Montreal $332,126 Newfoundland & Labrador $273,665 Quebec City $255,671 Halifax-Dartmouth $253,729 London St. Thomas (in April 2014) $248,966 CANADA $390,554 House Style Units Average Price Sold 2 storey 203 $344,843 Bungalow 120 $196,050 Ranch 107 $305,125 Townhouse 76 $158,347 Apt. High Rise 52 $311,455 The best-selling house style in LSTAR s jurisdiction for April 2014 was the twostorey, then the bungalow, followed by ranches, townhouse condominiums, then high rise apartment condos. The London and St. Thomas Association of REALTORS (LSTAR) is one of Canada s fifteen largest real estate associations, representing over 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. As members of the Canadian Real Estate Association, LSTAR members may use the REALTOR trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics. The Association operates the local Multiple Listing Service (MLS ) and provides ongoing professional education courses for its members. Statistical Report (April 2014) Page 4 of 27

5 LSTAR s Market Report for April 2014 Market Activity 666 detached homes and 170 condos exchanged hands in April 2014, for a total of 836 transactions. Type of Market Balanced Listings Active detached home listings end of period were down 0.4%. Active condo listings end of period were up 6.7% Total Residential (Detached & Condo) $248,966 down 2.0% ($254,045) All detached homes in LSTAR s jurisdiction $269,505 up 0.0% ($269,497) Average Price April 2014 (Compared to March 2014) All condos in LSTAR S jurisdiction $168,501 down 7.6% ($182,282) All two-storeys in LSTAR s jurisdiction $344,843 up 3.5% ($333,256) All bungalows in LSTAR s jurisdiction $196,050 down 3.5% ($203,250) All ranches in LSTAR S jurisdiction $305,125 down 4.3% ($318,786) All townhouse condos in LSTAR s jurisdiction $158,347 up 0.8% ($157,124) Most Popular in April Affordability Two-storeys, then bungalows, then ranches, then townhouse condominiums, then high rise apartment condos. The average price of a detached home in LSTAR s jurisdiction Year to Date stands at $266,536, up 2.1% compared to December 31, 2013, while the price of a condo dropped 2% to $174,680. The average price for all homes sold in LSTAR s jurisdiction Year to Date was $248,675, up 1.2%. The following table, based on data taken from CREA s National MLS Report for March2014 (the latest information available), demonstrates how homes in LSTAR s jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centers. City Average Sale $$ Vancouver $791,550 Victoria $486,670 Fraser Valley $500,033 Toronto $547,757 Calgary $477,259 Hamilton-Burlington $403,908 Ottawa $349,407 Kitchener-Waterloo $342,274 Montreal $332,126 Regina $344,389 Newfoundland & Labrador $273,665 Edmonton $356,141 Halifax-Dartmouth $253,729 Quebec City $255,671 London St. Thomas (April 2014) $248,966 CANADA $393,775 April saw the condo market rebound to more normal levels. 170 condos sold last month, up 18.1% from the previous year. The market for condos has been unusually slow over the last year, says Jim Holody, President of the London and St. Thomas Association of REALTORS. However, the five year average for condo sales in April is 158.2, so we re not far in excess of that. This apparent uptick in sales is probably more like a market correction. Market Factors Detached homes did not fare as well last month. 666 detached homes sold in April, down 7.5%. The five year average for detached homes in April is When you take that into consideration, the numbers are down, but not dramatically, says Holody. Total home sales are down 3.2 for the month. Statistical Report (April 2014) Page 5 of 27

6 London and St.Thomas Association of REALTORS Statistical Report for the Month Ending: 30-Apr Monthly Data 2013 Monthly Data DETACHED % CONDO % OTHER TOTAL % DETACHED CONDO OTHER TOTAL Units Sold Dollar Volume $179,490, $28,645, $28,424,500 $236,559, $189,357,456 $26,539,218 $19,769,289 $235,665,963 No.of Listings , Year-to Date 2013 Year-to-Date DETACHED % CONDO % OTHER TOTAL % DETACHED CONDO OTHER TOTAL Units Sold ,640 Dollar Volume $510,150, $80,702, $79,901,388 $670,754, $526,391,776 $81,446,320 $62,663,915 $670,502,011 No.of Listings , ,002 6,646 Active Listings (end of period) ,485 5,146 Detached Average Price(Month) $269, $262,996 Average Price (YTD) $266, $260,719 Condo Average Price(Month) $168, $184,300 Average Price (YTD) $174, $174,778 Total Residential Average Price(Month) $248, $249,880 Average Price (YTD) $248, $244,603 Statistical Report (April 2014) Page 6 of 27

7 London and St.Thomas Association of REALTORS Residential Statistical Report for the Month Ending: 30-Apr Monthly Data 2013 Monthly Data DETACHED % CONDO % TOTAL % DETACHED CONDO TOTAL Units Sold Dollar Volume $179,490, $28,645, $208,135, $189,357,456 $26,539,218 $215,896,674 No.of Listings Average Price (Apr) $269,505 $168,501 $248, Average Price (Mar) $269,497 $182,282 $254, % Difference in Average Price in Current Month Compared to Previous Month 2014 Year-to Date 2013 Year-to-Date DETACHED % CONDO % TOTAL % DETACHED CONDO TOTAL Units Sold Dollar Volume $510,150, $80,702, $ 590,852, $526,391,776 $81,446,320 $607,838,096 No.of Listings Active Listings (end of period) Average Price YTD $266,536 $174,680 $248, Average Price (Dec.31/13)* $261,051 $178,309 $245, RESIDENTIAL STATISTICS Apr 2014 * % Difference in Average Price Year-to-Date Compared to December 31, 2013 Statistical Report (April 2014) 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 (April 2014) Page 8 of 27

9 London and St.Thomas Association of REALTORS Statistical Report for the Month Ending: Apr 30, 2014 ST. THOMAS STATISTICS 2014 Monthly Data 2013 Monthly Data % Units Sold Dollar Volume $15,097, $14,518,850 No.of Listings Active at End Year-to Date 2013 Year-to-Date % Units Sold Dollar Volume $39,243, $42,514,097 No.of Listings Average Price (Apr 2014) $196, Average Price (Apr 2013) Average Price (Mar 2014) $196,131 $191,038 Average Price YTD $201, Average Price (YTD 2013) Average Price (Dec.31/13) * $189,783 $195,917 * Difference in Average Price Year-to-Date Compared to December 31, 2013 Statistical Report (April 2014) Page 9 of 27

10 ST. THOMAS Sales by Month YEAR JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER Year Average ( ) Statistical Report (April 2014) Page 10 of 27

11 MLS Residential Sales (Jan. 1 to Dec. 31 a 10 year review) Statistical Report (April 2014) Page 11 of 27

12 MLS Residential Sales (April YTD a 10 year review) Statistical Report (April 2014) Page 12 of 27

13 MLS Residential Listings (Jan. 1 to Dec. 31 a 10 year review) Statistical Report (April 2014) Page 13 of 27

14 MLS Residential Listings (April YTD a 10 year review) Statistical Report (April 2014) Page 14 of 27

15 Active MLS Residential Listings End of Period (10 year review) Statistical Report (April 2014) Page 15 of 27

16 Active MLS Residential Listings End of Period as of April (10 year review) Statistical Report (April 2014) Page 16 of 27

17 Average Residential Price in Association s Jurisdiction (10 year review) $166,465 $178,058 $188,942 $202,256 $210,888 $213,402 $227,056 $232,387 $238,822 $245,737 Statistical Report (April 2014) Page 17 of 27

18 Total MLS Dollar Volume (10 year review) ,640,903,052 1,730,728,695 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 Statistical Report (April 2014) Page 18 of 27

19 Total MLS Dollar Volume YTD as of April (10 year review) $540,246,141 $589,036, ,133, ,944, ,924, ,285, ,767, ,974, ,502, ,754,057 Statistical Report (April 2014) Page 19 of 27

20 Residential Sales by Month 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 (April 2014) Page 20 of 27

21 Residential Sales by Month 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 Statistical Report (April 2014) Page 21 of 27

22 Residential Sales by Month YEAR Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Total YTD Statistical Report (April 2014) Page 22 of 27

23 Year Average Residential Prices to 2014 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, $249,654 $201,249 $249,675 LSTAR's jurisdiction includes Middlesex and Elgin Counties, home to nearly 500,000 residents. Statistical Report (April 2014) Page 23 of 27

24 Condos 15 Year Review Year Total % Increase Average Price Townhouse % Increase Average Price $93, $90, $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, $159,791 Statistical Report (April 2014) Page 24 of 27

25 Statistical Breakdown by Area for April 2014 London Item 2013 Average Sale Price * 2014 Year to Date % NORTH Total Detached North $323,658 $327, % Total Condo North $215,715 $214, % Bungalow North $249,975 $247, % Two Storey North $346,692 $355, % Ranch North $367,291 $393, % Townhouse Condo North $191,446 $209, % SOUTH Total Detached South $282,452 $280, % Total Condo South $160,653 $161, % Bungalow South $212,624 $217, % Two Storey South $346,732 $343, % Ranch South $309,729 $301, % Townhouse Condo South $150,793 $139, % EAST Total Detached East $202,185 $213, % Total Condo East $154,208 $160, % Bungalow East $161,679 $171, % Two Storey East $265,287 $285, % Ranch East $208,729 $225, % Townhouse Condo East $120,104 $131, % * up-to-date figures based on January 1, 2013 to December 31, 2013 Statistical Report (April 2014) Page 25 of 27

26 Statistical Breakdown by Area for April 2014 Elgin Item 2013 Average Sale Price * 2014 Year to Date % Total Detached $225,526 $228, % Total Condo $164,031 $139, % Bungalow $176,801 $181, % Two Storey $296,524 $349, % Ranch $278,431 $257, % Townhouse Condo $180,544 $131, % St. Thomas Item 2013 Average Sale Price * 2014 Year to Date % Total Detached $196,667 $201, % Total Condo $206,521 $257, % Bungalow $189,626 $195, % Two Storey $239,651 $239, % Ranch $217,940 $223, % Townhouse Condo $0 $225, % * up-to-date figures based on January 1, 2013 to December 31, 2013 Statistical Report (April 2014) Page 26 of 27

27 Statistical Breakdown by Area for April 2014 Middlesex County Item 2013 Average Sale Price * 2014 Year to Date % Total Detached $298,528 $320, % Total Condo $265,173 $287, % Bungalow $211,377 $225, % Two Storey $368,566 $419, % Ranch $325,107 $373, % Townhouse Condo $291,000 $ % Strathroy Item 2013 Average Sale Price * 2014 Year to Date % Total Detached $217,748 $218, % Total Condo $180,156 $197, % Bungalow $195,323 $209, % Two Storey $269,630 $269, % Ranch $232,815 $280, % Townhouse Condo $122,000 $ % * up-to-date figures based on January 1, 2013 to December 31, 2013 Statistical Report (April 2014) Page 27 of 27