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If you are driving home from Toronto or Kitchener or Woodstock and you are on the 401 pulling into the London area you might be suprised to learn that it takes about the same amount of time to drive to St. Thomas as it does to get to north London. That's what has helped to essentially transform St. Thomas into a bedroom community of London. St. Thomas Ontario, population 37,000 runs with the slogan "25% more life in St. Thomas". For some unknown reason, many people confuse this notion with the idea that your buying power gets you 25% when you are purchasing a house or a condo. Well guess what? Homes may cost less but not necessarily condos.

We are CondoWorld and our focus is on helping buyers to better understand the condo marketplace. According to statistics provided by the London St. Thomas Real Estate Board the average price of a condo in St. Thomas in 2011 was 19% more than the average price of a condo in London ($212,579 vs $179,240), in 2014, 31% more ($239,132 vs $181,613) and in 2015, approximately 38% more ($254,737 vs $185,189). Prices went even higher in 2016. In 2016 the average price of a condo was $288,376 which was 46% more than the average price of a condo in London for that same year!

How could this be? Well St. Thomas has no high rise condos which often cost less. Also "new condo sales" in St. Thomas made up 40% of all of the MLS condo sales. Contrast this to the London market place where new condo sales in 2016 accounted for only 5% of all MLS condo sales. Many of the condos in St. Thomas are luxury one floor units designed for retirees.

What else should our readers know? Well there is actually a shortage of condos in St. Thomas. New buyers to the area will quickly discover that the inventory of "active" available units for sale is actually quite low. In recent times the new home builder "Hayhoe" has recognized this need to bring more new condos to the marketplace. They should be congratulated for doing so in such a stylish manner.

Enjoy the contents of this site and if you have the time please also visit our Port Stanley site. What a picture perfect village! Condo living in Elgin County is a new way of life very much now worth considering!



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