The London and St. Thomas Association of REALTORS® (LSTAR) announced another strong month for home sales in October, with 865 homes exchanging hands. Although down 7.1% compared to the same time a year ago, sales represent the second-highest number of homes sold in the month of October since 1978.

"During the fall season, the sales activity in LSTAR's jurisdiction has been well above the 10-year average," said Jack Lane, LSTAR 2021 President. "High demand and low supply continue to make this a very competitive marketplace. If you're considering listing your home or purchasing a home, your local REALTOR® is the best resource to help navigate through this ever changing marketplace."

An important area to highlight is inventory, which shows how long it…

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In September 2021, the London and St. Thomas Association of REALTORS® (LSTAR) experienced another solid month, with 864 residential transactions recorded via its MLS® system. "This value, which represents the second-highest number of homes sold in the month of September in LSTAR's jurisdiction since 1978, puts us on track for a record year. In the first nine months of this year, 8,756 homes traded hands in our area, which is an unprecedented total for our September year-to-date figures," said 2021 LSTAR President Jack Lane.

1,057 new listings came on the local market last month, on par with the values seen in the pre-pandemic years. However, at the end of the month, there were only 628 active listings left - the lowest amount of active listings ever…

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925 homes traded hands last month via LSTAR's MLS® system, marking the second best August for home sales since LSTAR started tracking data, back in 1978. However, the pace of sales was slower than in August 2020, with the median number of days spent by a home on the market sitting at 9, compared to only 8 days last year.

"The number of August residential transactions decreased by 4.3% over the same period last year, but, despite this slight change of pace, average and benchmark prices continued to climb," said 2021 LSTAR President Jack Lane. "The overall average home price in LSTAR's jurisdiction for August 2021 was $620,002, and the composite benchmark price - $586,800. These increases were undoubtedly caused by the very low housing supply and the…

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The London and St Thomas Association of REALTORS® (LSTAR) reported 993 homes sold last month in its jurisdiction. "Even though this represents the second highest number of home sales recorded via LSTAR's MLS® system for the month of July, this value is more in line with our pre-pandemic figures, which suggests that our market may be stabilizing," said LSTAR 2021 President Jack Lane. 

LSTAR's overall average sales price was $614,913 in July 2020, 26.6% over the same period last year. 

“July's average sales price was slightly lower than the year-to-date value, which reflects the moderating trend seen across the country, reinforcing, at the same time, the idea that our local real estate market is starting to level off. However, the high demand for…

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The London and St Thomas Association of REALTORS® (LSTAR) announced 1,194 homes exchanged hands last month, the highest number of home sales recorded via the MLS® system for the month of June since the Association began tracking data in 1978.

"We're halfway through the year and the housing marketplace continues to be very strong," said LSTAR 2021 President Jack Lane. "We're encouraged by year-to-date sales, which are performing ahead of 2020. At the end of June, there have been 6,378 sales, up 49.4% over the same period last year."

The average sales price across the LSTAR region in June was $641,072, an increase of more than 35% compared to June 2020.

"The average sales price was on par with what has been recorded over the past four months," Lane…

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May 2021 was yet another remarkable month for home sales activity in LSTAR's jurisdiction: the Association recorded 1,258 residential transactions via its MLS® systems - up 87.5% from May 2020, when the local real estate market was experiencing a pandemic-induced decline.

"This number marks the second best May for LSTAR home sales, surpassed only by May 2017, when LSTAR REALTORS® sold 1,433 homes," said LSTAR 2021 President Jack Lane. "However, year-to-date sales are at an all-time high. At the end of May, there have been 5,175 sales, up 64.3% over the same period last year."

The overall inventory figure, which shows how long it would take to liquidate the existing housing supply in our area at the current rate of sales activity, remained at 0.6…

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The London and St Thomas Association of REALTORS® (LSTAR) announced 1,231 homes exchanged hands last month, the highest number of home sales recorded via the MLS® system for the month of April since the Association began tracking data in 1978.

"We are encouraged by the strong sales numbers, as the spring market ramps up," said LSTAR 2021 President Jack Lane. "Year-to-date sales are also performing ahead of 2020. At the end of April, there have been 3,918 sales, up more than 57% over the same period last year."

LSTAR’s regions, like many others across the province, are experiencing some of the lowest inventory levels seen in the past 10 years. Combined with a high demand, these dynamics have contributed to a very robust marketplace, with numerous…

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The London and St. Thomas Association of REALTORS® (LSTAR) announced 1,296 homes exchanged hands in March, an increase of more than 56% compared to the same time a year ago. The total sales are the highest recorded for the month of March since the Association began tracking data in 1978. 

"We've experienced a very robust start to the first quarter of 2021, with the seventh consecutive month of record sales," said LSTAR 2021 President Jack Lane. "Three months into the year, there have been 2,671 sales, up more than 30% over the same period last year. If you're considering listing your home, get in touch with your local REALTOR® who can help you navigate through this marketplace." 

Low supply and high demand continue to affect the average sales price…

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The London and St. Thomas Association of REALTORS® (LSTAR) announced 824 homes exchanged hands in February, achieving another monthly record for residential sales. Sales were up more than 19% compared to the same time a year ago, marking the best results ever for February, since the Association began tracking data in 1978. 

"This is the sixth consecutive month of record sales, demonstrating just how strong the housing marketplace is right now," said LSTAR 2021 President Jack Lane. “Because of the low supply and high demand, we continue to see increases in average sales price across the entire region." 

The following table shows last month’s MLS® Home Price Index (HPI) benchmark prices by area and how they compare to the average sales prices. The HPI…

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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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