Real Estate Blog

London and St Thomas Association of REALTORS® (LSTAR) announced 1,146 homes exchanged hands last month in its jurisdiction, 1% less than in May 2018 and 26% down from May 2017, which was a record-setting month – with 1,549 homes sold. The number of active listings for the same area sat at 1,855 in May, with most LSTAR regions seeing year-over-year increases, with the exception of London East and St. Thomas, where this number decreased.

"Some of the May figures show signs of market stabilization, with London North, Elgin County and Middlesex County entering a more balanced territory," said Earl Taylor, 2019 LSTAR President. "This is not the case of St. Thomas, which is still very much a Sellers' Market. In fact, last month, the sales-to-new listings

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London and St. Thomas Association of REALTORS® (LSTAR) announced 1,055 homes* were sold in April, up 7.7% over April 2018. It was the fourth consecutive month to post gains over sales from the previous year, with the number of home resales above the 10-year average.

"The home resales activity in April reflects a very robust start to the spring market season," said Earl Taylor, 2019 LSTAR President. "In fact, last month was the third best April, since LSTAR started tracking data in 1978. We continue to trend higher for total sales compared to 2018 with 2,989 units sold, which is ahead 6.4% compared to the same time last year."

The average home sales price across LSTAR’s jurisdiction reached a record high of $421,375, which is an increase of 14.8%

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London and St. Thomas Association of REALTORS® (LSTAR) announced 814 homes* were sold in March, up 0.4% over March 2018. The number of home resales was right on par with the 10-year average and March was the third consecutive month to post gains over sales one year ago.

"We've had a very strong start to the first quarter of 2019, with steady home sales all across our region," said Earl Taylor, 2019 LSTAR President. "Just three months into the year, there have been 1,939 home resales, which is an increase of 6.0% over the same period last year. If you're considering listing your home in the marketplace, it's a great time to get in touch with your local REALTOR®."

One of the trends in March was the increase in inventory (called active listings) that

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London and St. Thomas Association of REALTORS® (LSTAR) announced 603 homes* were sold in February, up 5.6% over February 2018. The number of home resales was right on par with the 10-year average. Two months into 2019, there have been 1,128 home resales, up 10.8% compared to the same time last year.

Across the five major areas of LSTAR's region, average home sales price continued to make healthy gains. The largest year-over-year gain was in Elgin County, with a February average sales price of $360,800, up 33% compared to February 2018. Meanwhile, in London, the February average sales price was $405,186, up 13.5% from the same month last year. The average sales price for the entire LSTAR jurisdiction was $393,911, up 12.5% compared to February 2018.

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"We're starting to observe signs of movement toward more balance in the marketplace, based on the sales-to-new listings ratio," said Earl Taylor, 2019 LSTAR President. "In January, the ratio was 60.9% across LSTAR’S jurisdiction. The Canadian Real Estate Association (CREA) says a ratio between 40% and 60% is generally consistent with a balanced market."

Bucking the trend was St. Thomas, who saw a sales-to-new listing ratio of 80.3% in January, which CREA says represents conditions

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London and St. Thomas Association of REALTORS® (LSTAR) announced 439 homes* were sold in December, up 2.1% over December 2017 and right on par with the 10-year average. The number of home resales for the year was 9,799, down 13.3% compared to 2017, which set a record year for residential real estate.

"One of the trends that stood out in December was the sales-to-new listings ratio, which was 108.1% across the region," said Jeff Nethercott, 2018 LSTAR President. "It's a statistic the Canadian Real Estate Association (CREA) says represents conditions in the marketplace that favour sellers (a ratio between 40% and 60% is generally consistent with a balanced market). In London, the sales-to-new listings ratio was 119.7%, while in St. Thomas it was

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London and St. Thomas Association of REALTORS® (LSTAR) announced a record 906 homes* were sold in October, up 11.9% over the same month last year. The number of home resales in October mark the best monthly total for October, since LSTAR began tracking data in 1978.

"It was a very strong October, with home resales high above the 10-year-average," said Jeff Nethercott, 2018 LSTAR President. "One of the trends we saw in October was a healthy increase in the number of new listings to the marketplace. October had 1,171 new listings, up 38.1% compared to October 2017. Average sales price continues to make steady gains as well all across the region."

Making the biggest gain was London East, where the average sales price

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