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After two consecutive months of sharp declines caused by the COVID-19 pandemic, local home sales saw a strong rebound in June. The London and St Thomas Association of REALTORS® reported that 1,188 homes exchanged hands last month in its jurisdiction, up 13.8% from June 2019 and 11.7% more than two years ago.

"In fact, this makes last month the second best June for home sales since LSTAR began tracking data, back in 1978," pointed out Blair Campbell, 2020 LSTAR President. "In all LSTAR's main regions, June's volume of residential real estate transactions was absolutely remarkable: Middlesex County and Strathroy had their best June ever, with 99 and 39 home sales respectively; St. Thomas and Elgin County recorded their second best June, with 97 and 77

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The London and St. Thomas Association of REALTORS® announced that 668 homes exchanged hands last month in its jurisdiction, down 41.6% from May 2019 and 26.3% less than in May 2010. The number of LSTAR’s listings was 973 in May, which represents a 42.3% decrease from a year ago and 41.5% from ten years ago.

"Even though the total number of residential transactions remained well below the 10-year average, in May, we saw notable month-over-month increases: 42.4% in home sales and 31.8% in listings, which we find very encouraging," said Blair Campbell, 2020 LSTAR President. "In addition, when looking at the year-over-year percentage changes, one can notice that the decrease in home sales is directly proportional to the one in listings, which means that

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Local home sales decreased more than 50% in April, as the COVID-19 pandemic and the social distancing rules incurred by it slowed the momentum on what was shaping up to be another record year for LSTAR REALTORS®.

Last month, there were 469 home sales in the entire jurisdiction of the London and St. Thomas Association of REALTORS®, down 55.4% from April 2019 and 54.8% less than in April 2010. The number of LSTAR's listings dropped to 738 in April, which represents a 50.3% decrease from a year ago and 56.8% from ten years ago.

"As anticipated, the volume of sales was one of the lowest for April since the Association started tracking data, back in 1978," said 2020 LSTAR President Blair Campbell. "However, when analyzing these figures, one has to take

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"For the first quarter, home sales in 2020 are at 2,170, 12.3% ahead of 2019,” said 2020 LSTAR President Blair Campbell. “But with the COVID-19 pandemic affecting all businesses, there is an expectation the marketplace will be impacted in the coming weeks and months. We’ll have to wait and see what this means for LSTAR’s jurisdiction, based on data for the upcoming monthly cycles."

"First I want to stress that LSTAR's highest priority during this challenging time is the safety and well-being of its Members and staff," Campbell said. "We

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Last month, local residential real estate transactions remained at peak levels, with 740 homes trading hands in LSTAR’s jurisdiction – only 22 less than three years ago, when the Association had its best February sales ever.

"Overall, home sales took a leap over the previous month – from 568 to 740, which signals an early start of a busy spring market," said 2020 LSTAR President Blair Campbell.

Compared to a year ago, the local residential sales activity saw a 23.7% increase, while the overall average home price experienced a 13% surge, rising to $445,535 in February.

"Even though the number of LSTAR new listings grew to 1,034, which is almost on par with the 10-year average, the number of active listings at month end was still much lower than

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LSTAR REALTORS® started the year with a bang, as the house sales in the London – St Thomas area saw their second best January since 1978, when LSTAR started tracking its markets’ performance. 

568 homes exchanged hands last month in our jurisdiction – only two shy from the same period in 2017, which still holds the absolute record for January residential real estate transactions. 

The average home price for the region was 437,197, 13.9% higher than a year ago and 48.2% over January 2017. “When compared to January 2010, the percentage of price growth is a whopping 95.2%, which means that the value of homes in our area has almost doubled in the last ten years,” said 2020 LSTAR President Blair Campbell. 

“Despite the high number of home sales and

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2019 proved to be not only a solid year for real estate in the London-St Thomas area, but also the third best year for sales activity since the Association began tracking its performance back in 1978.

469 homes traded hands in LSTAR's jurisdiction in December, which brings the total number of 2019 residential transactions recorded via MLS® to 10,125 – up 3.4% over 2018. This is only the third time that sales surpassed 10,000 units. It happened for the first time in 2016 and then again in 2017, a record year with more than 11,000 home resales.

"For the local REALTORS®, 2019 started strong and continued on the same note, with three monthly records in July, October and November," said 2019 LSTAR President Earl Taylor. "For the most part of the year,

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For the second month in a row, LSTAR's home resales achieved a new record, with 752 homes1 exchanging hands in November. It's the best November ever, since the Association began tracking data in 1978.

"We had another solid month, demonstrating the robust marketplace all across the region," said Earl Taylor, 2019 LSTAR President. "There have been 9,658 home resales year to date, which is up 3.2% compared to the same period in 2018, and we're on course to surpass last year's total sales."

The sales-to-new listings ratio in LSTAR's jurisdiction was 90.7%, which the Canadian Real Estate Association (CREA) says favours sellers. A ratio between 40% and 60% is generally consistent with a balanced market. A ratio below 40% tends to favour buyers, while a

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"Once again, home sales soared to new heights, making last month the best October since 1978, when the Association began tracking sales," said Earl Taylor, 2019 LSTAR President. "In addition, the year-to-date data suggests this year's home sales are poised to surpass last year's."

The number of active listings saw a slight year-over-year uptick in October – from 1,596 in 2018 to 1,716 in 2019, but stayed well below the 10-year average. The sales to new listings ratio for the entire

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London and St Thomas Association of REALTORS® (LSTAR) announced 861 homes* were sold last month, marking the second best September for home resales, since the Association began tracking data in 1978.

"In September, home resales across the region were up 11.8%, compared to the same month last year," said Earl Taylor, 2019 LSTAR President. "With three months left in the year, almost 8,000 homes have exchanged hands, which is up 3.6%, compared to this period in 2018."

Meanwhile, inventory remains low, with active listings at 1,841, up 8.8%, compared to September 2018. This number is well below the 10-year average. For comparison, this is down 22.6% compared to three years ago and down 49.6% compared to five years ago.

"What we're experiencing with

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