The London real estate market remained active in June, with 508 homes sold and an average sale price of $594,000. Inventory continued to improve, with the Months of Inventory (MOI)* sitting at 4.5 months.
*MOI is a measure of how long it would take to sell all the homes currently on the market if no new listings were added and homes continued selling at the current pace. In June's market, that means it would take approximately 4.5 months to sell the existing inventory. Generally, a lower MOI indicates a stronger seller's market, while a higher MOI suggests conditions are becoming more favourable for buyers.
