Despite the COVID-19 pandemic, 2020 proved to be the second best year for home sales in the history of the London and St. Thomas Association of REALTORS® (LSTAR). In the entire jurisdiction of LSTAR, 9,976 homes traded hands last year, with 596 sales wrapping up 2020 in the month of December.

“This number of residential transactions make 2020’s last month the best December on record. LSTAR REALTORS® started the year with a bang and, contrary to the somber predictions sparked by the coronavirus restrictions, they ended it on the same note,” said 2020 LSTAR President Blair Campbell.

“Globally, this year, people were forced to spend much more time in their homes with their families, which made them reevaluate their housing choices. Some of the trends…

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The London and St. Thomas Association of REALTORS® (LSTAR) announced 854 homes exchanged hands in November, achieving another monthly record for residential sales. Sales were up more than 33% compared to the same time a year ago, marking the best results ever for November, since the Association began tracking data in 1978.

"This is the third consecutive month of record sales, demonstrating how robust the housing marketplace is right now," said LSTAR 2020 President Blair Campbell. "We continue to see increases in average sales price across the region in a market with historically low supply."

Inventory is an important measure of the balance between sales and the supply of listings, illustrating how long it would take to liquidate existing inventories…

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Last month, the local real estate market continued its streak of record sales and prices. 917 homes were sold in October in the London and St Thomas Association of REALTORS®’ jurisdiction, while the overall average price for LSTAR climbed to $526,848.

"The 917 residential transactions that took place in our jurisdiction represent the highest number of sales for the month of October since 1978, when the Association started tracking data," said LSTAR 2020 President Blair Campbell. "Out of these transactions, 690 happened within the City of London, which had its best October for home sales, as well," he added.

"The combination between the historically low interest rates and the 'working-from-home' trend has generated an extraordinary demand in a…

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The London and St Thomas Association of REALTORS® (LSTAR) announced September achieved a record for residential sales, with 960 homes exchanging hands, up 25% compared to the same time a year ago. This represents the best results ever for September since the Association began tracking data in 1978.

"The strong momentum experienced during the summer months continued through September," said 2020 LSTAR President Blair Campbell. "Similar to many other housing markets across Canada, many are still playing catch up from the COVID-19 lockdown we had during the spring."

The average home sales price across the region also reached a new peak of $521,883, up 28% over September 2019 and up more than 98% compared to the same time five years ago.

"Each of the…

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The London and St Thomas Association of REALTORS® (LSTAR) announced 931 homes exchanged hands in August, making it the 2nd best August for sales since the Association began tracking data in 1978.

"August capped off a very strong summer for home sales in the region," said 2020 LSTAR President Blair Campbell. "For the first time, the average home sales price was over $500,000. It's a testament to the pent-up demand caused during the COVID-19 lockdown months."

The average home sales price was $501,584 in August, up 22% over August 2019 and up more than 55% compared to the same time just three years ago.

"It's important to note the average sales price encompasses all housing types across the entire LSTAR jurisdiction, from single detached homes to…

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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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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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