The London and St Thomas Association of REALTORS® (LSTAR) reported 993 homes sold last month in its jurisdiction. "Even though this represents the second highest number of home sales recorded via LSTAR's MLS® system for the month of July, this value is more in line with our pre-pandemic figures, which suggests that our market may be stabilizing," said LSTAR 2021 President Jack Lane. 

LSTAR's overall average sales price was $614,913 in July 2020, 26.6% over the same period last year. 

“July's average sales price was slightly lower than the year-to-date value, which reflects the moderating trend seen across the country, reinforcing, at the same time, the idea that our local real estate market is starting to level off. However, the high demand for…

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The London and St Thomas Association of REALTORS® (LSTAR) announced 1,194 homes exchanged hands last month, the highest number of home sales recorded via the MLS® system for the month of June since the Association began tracking data in 1978.

"We're halfway through the year and the housing marketplace continues to be very strong," said LSTAR 2021 President Jack Lane. "We're encouraged by year-to-date sales, which are performing ahead of 2020. At the end of June, there have been 6,378 sales, up 49.4% over the same period last year."

The average sales price across the LSTAR region in June was $641,072, an increase of more than 35% compared to June 2020.

"The average sales price was on par with what has been recorded over the past four months," Lane…

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May 2021 was yet another remarkable month for home sales activity in LSTAR's jurisdiction: the Association recorded 1,258 residential transactions via its MLS® systems - up 87.5% from May 2020, when the local real estate market was experiencing a pandemic-induced decline.

"This number marks the second best May for LSTAR home sales, surpassed only by May 2017, when LSTAR REALTORS® sold 1,433 homes," said LSTAR 2021 President Jack Lane. "However, year-to-date sales are at an all-time high. At the end of May, there have been 5,175 sales, up 64.3% over the same period last year."

The overall inventory figure, which shows how long it would take to liquidate the existing housing supply in our area at the current rate of sales activity, remained at 0.6…

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The London and St Thomas Association of REALTORS® (LSTAR) announced 1,231 homes exchanged hands last month, the highest number of home sales recorded via the MLS® system for the month of April since the Association began tracking data in 1978.

"We are encouraged by the strong sales numbers, as the spring market ramps up," said LSTAR 2021 President Jack Lane. "Year-to-date sales are also performing ahead of 2020. At the end of April, there have been 3,918 sales, up more than 57% over the same period last year."

LSTAR’s regions, like many others across the province, are experiencing some of the lowest inventory levels seen in the past 10 years. Combined with a high demand, these dynamics have contributed to a very robust marketplace, with numerous…

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The London and St. Thomas Association of REALTORS® (LSTAR) announced 1,296 homes exchanged hands in March, an increase of more than 56% compared to the same time a year ago. The total sales are the highest recorded for the month of March since the Association began tracking data in 1978. 

"We've experienced a very robust start to the first quarter of 2021, with the seventh consecutive month of record sales," said LSTAR 2021 President Jack Lane. "Three months into the year, there have been 2,671 sales, up more than 30% over the same period last year. If you're considering listing your home, get in touch with your local REALTOR® who can help you navigate through this marketplace." 

Low supply and high demand continue to affect the average sales price…

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The London and St. Thomas Association of REALTORS® (LSTAR) announced 824 homes exchanged hands in February, achieving another monthly record for residential sales. Sales were up more than 19% compared to the same time a year ago, marking the best results ever for February, since the Association began tracking data in 1978. 

"This is the sixth consecutive month of record sales, demonstrating just how strong the housing marketplace is right now," said LSTAR 2021 President Jack Lane. “Because of the low supply and high demand, we continue to see increases in average sales price across the entire region." 

The following table shows last month’s MLS® Home Price Index (HPI) benchmark prices by area and how they compare to the average sales prices. The HPI…

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The London and St. Thomas resale housing market started the year by shattering new records. 547 homes exchanged hands last month in our area, the highest number of home sales for the month of January since the Association began tracking data in 1978. During the same month, the overall Home Price Index (HPI) benchmark price for LSTAR climbed 5.7% over December 2020, to $511,500, which marks the first time that LSTAR's composite HPI price has exceeded $500,000.

"2021 came in like a lion for the LSTAR housing market, which continues to see very low inventories and record home prices in all its main areas," said 2021 LSTAR President Jack Lane. "Across all LSTAR main regions we witnessed increases not only in average home prices - which can be sometimes…

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Despite the COVID-19 pandemic, 2020 proved to be the second best year for home sales in the history of the London and St. Thomas Association of REALTORS® (LSTAR). In the entire jurisdiction of LSTAR, 9,976 homes traded hands last year, with 596 sales wrapping up 2020 in the month of December.

“This number of residential transactions make 2020’s last month the best December on record. LSTAR REALTORS® started the year with a bang and, contrary to the somber predictions sparked by the coronavirus restrictions, they ended it on the same note,” said 2020 LSTAR President Blair Campbell.

“Globally, this year, people were forced to spend much more time in their homes with their families, which made them reevaluate their housing choices. Some of the trends…

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The London and St. Thomas Association of REALTORS® (LSTAR) announced 854 homes exchanged hands in November, achieving another monthly record for residential sales. Sales were up more than 33% compared to the same time a year ago, marking the best results ever for November, since the Association began tracking data in 1978.

"This is the third consecutive month of record sales, demonstrating how robust the housing marketplace is right now," said LSTAR 2020 President Blair Campbell. "We continue to see increases in average sales price across the region in a market with historically low supply."

Inventory is an important measure of the balance between sales and the supply of listings, illustrating how long it would take to liquidate existing inventories…

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Last month, the local real estate market continued its streak of record sales and prices. 917 homes were sold in October in the London and St Thomas Association of REALTORS®’ jurisdiction, while the overall average price for LSTAR climbed to $526,848.

"The 917 residential transactions that took place in our jurisdiction represent the highest number of sales for the month of October since 1978, when the Association started tracking data," said LSTAR 2020 President Blair Campbell. "Out of these transactions, 690 happened within the City of London, which had its best October for home sales, as well," he added.

"The combination between the historically low interest rates and the 'working-from-home' trend has generated an extraordinary demand in a…

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