LSTAR home sales set a new record in July, with 1,275 homes exchanging hands throughout the month in the Association's jurisdiction.
"This was not only the best July for LSTAR, but also for London, which saw 856 residential real estate transactions, a number that is way above the values typically recorded during this summer month," said 2020 LSTAR President Blair Campbell.
Overall, there were 1,408 new listings last month, on par with the 10-year average, but the inventory decreased to 1.1 months - its lowest value in the last decade.
"Now, the sales-to-new listings ratio for our entire area is a whopping 90.6%, a figure that clearly indicates a Sellers' Market," observed Campbell. "Even more so in London, where this ratio reached 92% last…
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