In April 2022, 877 homes traded hands in the London-St. Thomas area and 1,069 new property listings were posted on the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR). The local housing supply bounced up to 1.2 months of inventory in April from only 0.6 months in March.
“These figures suggest a soft landing of the local real estate market: the April home sales are on par with the ten-year average and last month's sales-to-new listings ratio of 54.5% signals that we’re trending towards a more balanced market,” said Randy Pawlowski, 2022 LSTAR President.
Within the same time frame, LSTAR's composite Home Price Index Benchmark Price saw a 4.5% month-over-month decline – from $774,200 in March to $739,700 in April. A similar…
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