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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