London Real Estate Sales Activity For May 2010
We just published the LSTAR (London & St Thomas Association of REALTORS) stats for May 2010, which showed sales, were up over last year.
We looked at these numbers a little differently -- the Sales/Listings Ratio that tells a more accurate story in our opinion. (This ratio shows the number of sales for every 100 listings)
2009 showed the LSTAR sales to list ratio at 70% for the month of May and a Y-T-D ratio of 53%.
2010 showed the LSTAR sales to list ratio of 51% for the month of May and a Y-T-D ratio of 55%.
May 2010 shows a decline of 18% in the sales to list ratio and is below the Y-T-D average.
When we looked at the City of London numbers the numbers showed a 19% decline for May 2010 over May 2009.
For Sellers, we think the market is slowing down but still a good time to sell. If you want to sell, your residential home or condominium has to be priced right for the market and show the best it can.
For Byers, there is a larger selection of residential and condominium properties on the market to choose from. Buyers may not see a reduction in prices but there will be better choices.
We always encourage our clients to do research on the Internet but when it comes to purchasing or selling your home or condominium you need a good realtor’s advice and guidance.
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