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Monthly Comparison: LONDON in January 2008
2008-03-02 16:33:00
A little late for our monthly update this month! My apologies. Been out and about picking up some rental properties before the spring housing fever hits and have been incredibly busy. This is the report for January 2008 , expect February's shortly. January traditionally is a slower month whereby a glut of inventory hits the market, so we'll see how this January of this year shapes up...We've compiled the complete monthly stats, but before we get to them here is the usual clarification:These numbers represent LONDON ONLY and my target area is London residential and multi-family housing. Thus, when the MLS stats come out in a week or so -and will be presented here as well such as they were in past months- the numbers will be much different. That is because those numbers will represent London & area and only residential(whereas I include multi-family property).First up as always, monthly prices.... & Prices strengthened slightly both on the listing side & on the sales pr...
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MOI (Months of Inventory): January 2008
2008-02-23 17:03:00
Time for our monthly MOI report.The Months of Inventory -MOI- is basically a ratio of the Inventory of homes for sale by the number of homes that have sold over a period of time.The higher the months of inventory, the slower the market and visa versa. Keeping in mind the following before reviewing the charts below:Generally, 4-6 months of inventory signals a balanced market, less than that would undoubtedly be a very strong Seller?s market, & more than that would be a Buyer?s market. In the most basic sense, a strong market will have an MOI of under 5 (As an extreme measure, from what I've been hearing, some of the crashing markets in the US like Phoenix Arizona have MOI of over 15, some over 20 months).Residential (single family) Activity by Area for January 2008 :Residential (single family) Activity by Area for the previous year, Jan 2007:As of today the current active listings on mls is 3863. And we have the number of closed sales at 530:This means that if no other properties...
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Friday (Feb 22nd) Numbers
2008-02-23 16:18:00
Friday (Feb 22nd) brought 40 new listings versus 42 sales-for a sell/list ratio of 105.00%.The 14 day rolling sell/list ratio now stands at 60.97%.Average list price of the sales was $215,088 & average sales price was $210,772.This means that average sales price today sold below the list by $4316 or 2.0%.Of the 42 sales that occurred, 8 sold at or above over the asking price.That's 19% of the listings sold either at or over the asking price.A lot of houses are selling at or above the asking price if you look back at the recent percentages of sales at or over asking in the last couple of weeks... could it be a signal that demand is escalating and prices may soon be on the rise?
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Thursday (Feb 21st) Numbers
2008-02-23 15:12:00
Thursday (Feb 21st) brought 48 new listings versus 22 sales-for a sell/list ratio of 45.83%.The 14 day rolling sell/list ratio now stands at 58.15%.Average list price of the sales was $237,691 & average sales price was $232,270.This means that average sales price today sold below the list by $5420 or 2.28%.Of the 22 sales that occurred, 2 sold at or above over the asking price.That's 9% of the listings sold either at or over the asking price.
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Wednesday (Feb 20th) Numbers
2008-02-23 15:03:00
Wednesday (Feb 20th) brought 40 new listings versus 33 sales-for a sell/list ratio of 82.50%.The 14 day rolling sell/list ratio now stands at 54.99%.Average list price of the sales was $249,264 & average sales price was $243,300.This means that average sales price today sold below the list by $5964 or 2.39%.Of the 33 sales that occurred, 5 sold at or above over the asking price.That's 15% of the listings sold either at or over the asking price.
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Tuesday (Feb 19th) & The Long Weekend Numbers
2008-02-23 14:51:00
Tuesday (Feb 19th) & the weekend brought 53 new listings versus 17 sales-for a sell/list ratio of 32.08%.The 14 day rolling sell/list ratio now stands at 53.45%.Average list price of the sales was $217,964 & average sales price was $245,994.This means that average sales price today sold below the list by $1970 or 0.9%.Of the 17 sales that occurred, 3 sold at or above over the asking price.That's 18% of the listings sold either at or over the asking price.
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Friday (Feb 15th) Numbers
2008-02-23 14:41:00
Friday (Feb 15th) brought 35 new listings versus 23 sales-for a sell/list ratio of 65.71%.The 14 day rolling sell/list ratio now stands at 54.31%.Average list price of the sales was $220,446 & average sales price was $217,222.This means that average sales price today sold below the list by $3225 or 1.5%.Of the 23 sales that occurred, 8 sold at or above over the asking price.That's 35% of the listings sold either at or over the asking price.
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Thursday (Feb 14th) Numbers
2008-02-23 14:31:00
Thursday (Feb 14th) brought 20 new listings versus 20 sales-for a sell/list ratio of 100.00%.The 14 day rolling sell/list ratio now stands at 54.47%.Average list price of the sales was $207,270 & average sales price was $203,970.This means that average sales price today sold below the list by $3300 or 1.6%.Of the 20 sales that occurred, 2 sold at or above over the asking price.That's 10% of the listings sold either at or over the asking price.
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Wednesday (Feb 13th) Numbers
2008-02-23 14:25:00
Wednesday (Feb 13th) brought 40 new listings versus 39 sales-for a sell/list ratio of 97.50%.The 14 day rolling sell/list ratio now stands at 53.42%.Average list price of the sales was $209,274 & average sales price was $206,693.This means that average sales price today sold below the list by $2582 or 1.2%.Of the 39 sales that occurred, 8 sold at or above over the asking price.That's 21% of the listings sold either at or over the asking price.
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Tuesday (Feb 12th) Numbers
2008-02-23 14:17:00
Tuesday (Feb 12th) brought 46 new listings versus 38 sales-for a sell/list ratio of 82.61%.The 14 day rolling sell/list ratio now stands at 50.64%.Average list price of the sales was $240,121 & average sales price was $236,134.This means that average sales price today sold below the list by $3987 or 1.7%.Of the 38 sales that occurred, 8 sold at or above over the asking price.That's 21% of the listings sold either at or over the asking price.
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Monday (Feb 11th) Numbers
2008-02-15 01:38:00
Monday (Feb 11th) & the weekend brought 55 new listings versus 13 sales-for a sell/list ratio of 23.64%.The 14 day rolling sell/list ratio now stands at 46.84%.Average list price of the sales was $200,738 & average sales price was $197,838.This means that average sales price today sold below the list by $2899 or 1.4%.Of the 13 sales that occurred, 2 sold at or above over the asking price.That's 15% of the listings sold either at or over the asking price.
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Friday (Feb 8th) Numbers
2008-02-10 16:47:00
Friday (Feb 8th) brought 43 new listings versus 22 sales-for a sell/list ratio of 51.16%.The 14 day rolling sell/list ratio now stands at 51.11%.Average list price of the sales was $208,182 & average sales price was $229,680.Of the 22 sales that occurred, 7 sold at or above over the asking price.That's 32% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4640.There were 19 Price Changes, 2 being Price Increases.
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Thursday (Feb 7th) Numbers
2008-02-10 16:37:00
Thursday (Feb 7th) brought 38 new listings versus 35 sales-for a sell/list ratio of 92.11%.The 14 day rolling sell/list ratio now stands at 49.08%.Average list price of the sales was $228,933 & average sales price was $224,315.This means that average sales price today sold below the list by $4618 or 2.0%.Of the 35 sales that occurred, 4 sold at or above over the asking price.That's 11% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4608.There were 8 Price Changes, 0 being Price Increases.
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Wednesday (Feb 6th) Numbers
2008-02-10 16:12:00
Wednesday (Feb 6th) brought 43 new listings versus 18 sales-for a sell/list ratio of 41.86%.The 14 day rolling sell/list ratio now stands at 45.51%.Average list price of the sales was $189,693 & average sales price was $185,578.This means that average sales price today sold below the list by $4115 or 2.2%.Of the 18 sales that occurred, 2 sold at or above over the asking price.That's 11% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4608.There were 6 Price Changes, 0 being Price Increases.
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Tuesday (Feb 5th) Numbers
2008-02-10 16:05:00
Tuesday (Feb 5th) brought 45 new listings versus 28 sales-for a sell/list ratio of 62.22%.The 14 day rolling sell/list ratio now stands at 45.74%.Average list price of the sales was $215,104 & average sales price was $209,593.This means that average sales price today sold below the list by $5511 or 2.6%.Of the 28 sales that occurred, 4 sold at or above over the asking price.That's 14% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4608.There were 15 Price Changes, 4 being Price Increases.
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Monday (Feb 4th) Numbers
2008-02-10 15:43:00
Monday (Feb 4th) & the weekend brought 51 new listings versus 14 sales-for a sell/list ratio of 27.45%.The 14 day rolling sell/list ratio now stands at 42.33%.Average list price of the sales was $271,871 & average sales price was $266,350.This means that average sales price today sold below the list by $5521 or 2.0%.Of the 14 sales that occurred, 5 sold at or above over the asking price.That's 36% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4600.There were 15 Price Changes, 0 being Price Increases.
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Friday (Feb 1) Numbers
2008-02-08 01:33:00
Friday (Feb 1st) brought 38 new listings versus 24 sales-for a sell/list ratio of 63.16%.The 14 day rolling sell/list ratio now stands at 45.06%.Average list price of the sales was $228,817 & average sales price was $223,034.This means that average sales price today sold below the list by $5783 or 2.5%.Of the 24 sales that occurred, 4 sold at or above over the asking price.That's 17% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4567.There were 8 Price Changes, 2 being Price Increases.
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Thursday (Jan 31) Numbers
2008-02-08 01:28:00
Thursday (Jan 31st) brought 44 new listings versus 1 sales-for a sell/list ratio of 2.27%.The 14 day rolling sell/list ratio now stands at 40.54%.Average list price of the sales was $242,900 & average sales price was $239,000.Of the 26 sales that occurred, 4 sold at or above over the asking price.That's 15% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4557.There were 9 Price Changes, 1 being Price Increases.
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Wednesday (Jan 30th) Numbers
2008-02-08 01:19:00
Wednesday (Jan 30th) brought 44 new listings versus 26 sales-for a sell/list ratio of 59.09%.The 14 day rolling sell/list ratio now stands at 42.17%.Average list price of the sales was $208,454 & average sales price was $205,185.This means that average sales price today sold below the list by $3269 or 1.6%.Of the 26 sales that occurred, 4 sold at or above over the asking price.That's 15% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4513.There were 19 Price Changes, 0 being Price Increases.
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Tuesday (Jan 29th) Numbers
2008-01-30 00:11:00
Tuesday (Jan 29th) & the weekend brought 49 new listings versus 20 sales-for a sell/list ratio of 40.82%.The 14 day rolling sell/list ratio now stands at 41.21%.Average list price of the sales was $200,015 & average sales price was $195,448.This means that average sales price today sold below the list by $4567 or 2.3%.Of the 20 sales that occurred, 5 sold at or above over the asking price.That's 25% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4500.There were 12 Price Changes, 1 being Price Increases.
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Monday (Jan 28th) & Weekend Numbers
2008-01-29 03:13:00
Monday (Jan 28th) & the weekend brought 48 new listings versus 31 sales-for a sell/list ratio of 64.58%.The 14 day rolling sell/list ratio now stands at 40.26%.Average list price of the sales was $200,752 & average sales price was $195,404.This means that average sales price today sold below the list by $5347 or 2.7%.Of the 31 sales that occurred, 6 sold at or above over the asking price.That's 19% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4479.There were 12 Price Changes, 6 being Price Increases.
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Friday (Jan 25th) Numbers
2008-01-29 02:59:00
Friday (Jan 25th) brought 45 new listings versus 27 sales-for a sell/list ratio of 60.00%.The 14 day rolling sell/list ratio now stands at 37.30%.Average list price of the sales was $179,870 & average sales price was $174,328.This means that average sales price today sold below the list by $5542 or 3.08%.Of the 18 sales that occurred, 4 sold at or above over the asking price.That's 22% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4462.There were 4 Price Changes - 1 of which were Price Increases.
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Thursday (Jan 24th) Numbers
2008-01-29 02:42:00
Thursday (Jan 24th) brought 33 new listings versus 18 sales-for a sell/list ratio of 54.55%.The 14 day rolling sell/list ratio now stands at 34.36%.Average list price of the sales was $173,528 & average sales price was $171,158.This means that average sales price today sold below the list by $2369 or 1.4%.Of the 18 sales that occurred, 2 sold at or above over the asking price.That's 11% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4462.There were 12 Price Changes - 2 of which were Price Increases.
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Wednesday (Jan 23rd) Numbers
2008-01-29 02:34:00
Wednesday (Jan 23rd) brought 41 new listings versus 12 sales-for a sell/list ratio of 29.27%The 14 day rolling sell/list ratio now stands at 31.88%.Average list price of the sales was $215,900 & average sales price was $215,434.This means that average sales price today sold below the list by $466 or .22%.Of the 12 sales that occurred, 2 sold at or above over the asking price.That's 17% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4453.There were 11 Price Changes - 2 of which were Price Increases.
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Tuesday (Jan 22nd) Numbers
2008-01-29 02:25:00
Tuesday (Jan 22nd) brought 23 new listings versus 23 sales-for a sell/list ratio of 100.00%.The 14 day rolling sell/list ratio now stands at 32.25%.Average list price of the sales was $268,421 & average sales price was $262,206.This means that average sales price today sold below the list by $6,215 or 2.32%.Of the 23 sales that occurred, 4 sold at or above over the asking price.That's 18% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4429.There were 8 Price Changes - 2 of which were Price Increases.
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Monday (Jan 21st) & The Weekend Numbers
2008-01-29 02:14:00
Monday (Jan 21st) & the weekend brought 57 new listings versus 17 sales-for a sell/list ratio of 29.82%.The 14 day rolling sell/list ratio now stands at 30.76%.Average list price of the sales was $181,847 & average sales price was $178,900.This means that average sales price today sold below the list by $2,946 or 1.62%.Of the 17 sales that occurred, 3 sold at or above over the asking price.That's 18% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4319.There were 21 Price Changes, 4 Price Increases & 17 Price Decreases.
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Friday (Jan 18th) Numbers
2008-01-21 23:40:00
Friday (Jan 18th) brought 41 new listings versus 15 sales-for a sell/list ratio of 36.59%.The 14 day rolling sell/list ratio now stands at 30.82%.Average list price of the sales was $242,787 & average sales price was $239,493.This means that average sales price today sold below the list by $3,293 or 1.36%.Of the 15 sales that occurred, 3 sold at or above over the asking price.That's 20% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4400.There were 8 Price Changes, 0 Price Increases & 8 Price Decreases.
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Thursday (Jan 17th) Numbers
2008-01-21 23:33:00
Thursday (Jan 17th) brought 40 new listings versus 18 sales-for a sell/list ratio of 45.00%.The 14 day rolling sell/list ratio now stands at 32.10%.Average list price of the sales was $227,900 & average sales price was $227,339.This means that average sales price today sold below the list by $561 or .25%.Of the 18 sales that occurred, 4 sold at or above over the asking price.That's 22% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4378.There were 10 Price Changes, 2 Price Increases & 8 Price Decreases.
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Wednesday (Jan 16th) Numbers
2008-01-21 23:28:00
Wednesday (Jan 16th) brought 46 new listings versus 8 sales-for a sell/list ratio of 17.39%.The 14 day rolling sell/list ratio now stands at 31.61%.Average list price of the sales was $177,100 & average sales price was $172,925.This means that average sales price today sold below the list by $4,175 or 2.36%.Of the 8 sales that occurred, 2 sold at or above over the asking price.That's 25% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4329.There were 8 Price Changes, 5 Price Increases & 3 Price Decreases.
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Tuesday (Jan 15th) Numbers
2008-01-21 23:22:00
Tuesday (Jan 15th) brought 48 new listings versus 29 sales-for a sell/list ratio of 60.42%.The 14 day rolling sell/list ratio now stands at 34.91%.Average list price of the sales was $227,695 & average sales price was $224,067.This means that average sales price today sold below the list by $3,628 or 1.59%.Of the 29 sales that occurred, 4 sold at or above over the asking price.That's 14% of the listings sold either at or over the asking price.Active listings for LONDON ONLY now stands at 4329.There were 8 Price Changes, 5 Price Increases & 3 Price Decreases.
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