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According to the London Free Press News Release, September 2009 further demonstrated a strengthening in the local London Ontario housing market.  Despite the many reported layoffs in London and area, September 2009 proved to be the third best month ever for sales.  Inching higher is the home prices, up 0.5% with the average price now hitting $213,376 for a home in London Ontario and area.  Hank Daniszewski adds more in his London Free Press article below:

The London area real estate market continued to show signs of recovery in September, chalking up the third best sales total for the month.

The London and St. Thomas Association of Realtors (LSTAR) said 572 detached homes and 136 condos sold last month.

Total sales were down 7.8% from the 769 units sold in September last year. But LSTAR president Joe Hough said last September’s sales set an unexpected record for the month and came just before the market went into a prolonged downturn.

“That was our last hurrah. It was the best September ever so it’s good to see September 2009 back up there,” said Hough.

The only other year with better September sales was 2005.

Sales in St. Thomas market were especially good last month with 59 units changing hands, up 13.5% over the same month last year.

Year-to-date sales for London-St. Thomas are still down 10.1% compared to the same period in 2008. But home prices are back in the black with an average year-to-date price of $213,376, up 0.5% over last year.

Hough said London-St. Thomas has not seen the real estate rebound noted in some major Canadian cities because of the unemployment rate of 11.1%, the second worst if any major urban area in the country.

“Considering our (unemployment) numbers, we are in pretty good shape. It shows me there are people out there waiting to buy,” said Hough.

Reference: http://www.lfpress.com/money/2009/10/02/11248416-sun.html