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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For the London and St Thomas Association of REALTORS® (LSTAR) last month was the August with the third highest volume of residential sales in the last decade. 917 homes exchanged hands in the Association’s jurisdiction - just four less than in August 2018. New listings increased to 1,189, but still didn’t reach the ten-year average. Overall, the inventory levels were slightly elevated over August 2018 – 1.9 months over just 1.7. During the same period, the average home price was 9.1% higher than one year ago, sitting at $413,010.

Area August Average Sale Price
Elgin County $363,749
London $415,808
Middlesex County $496,101
St. Thomas $342,134
Strathroy $402,360
LSTAR $413,010

In…

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The London and St Thomas Association of REALTORS® (LSTAR) had another record-breaking month: in July, 1,043 homes* exchanged hands in LSTAR’s jurisdiction, 5.4% more than in July 2018 and only seven units less than in June 2019.

"This makes last month the best July on record for LSTAR residential sales since the Association started tracking home sales back in 1978,” said Earl Taylor, 2019 LSTAR President.

“Looking at last month's home sales in the five main regions of LSTAR, it's worth to note that Middlesex County saw its best July in the last decade, with 99 units sold" Taylor stated. "Moreover, during this same period, 678 homes were sold in London, which marks the second best July ever for residential sales in this city. In addition, Elgin…

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The London and St. Thomas Association of REALTORS® (LSTAR) announced that 1,050 homes were sold last month in its jurisdiction, 1.3% less units than in June 2018 and 9.6% less than in May 2019. During the same period, there were 1,463 new listings in our area, 0.9% less than a year ago, but the inventory increased slightly over June 2018.

"Even if the home sales edged down last month, our local real estate market is still robust: the year-to-date sales activity saw a 3% increase over June 2018 and a higher level than in any of the first five years of this decade," said Earl Taylor, 2019 LSTAR President.

In London, there were 969 new listings in June and 715 homes exchanged hands, 0.6% more than last year, while the monthly average home price sat at…

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London and St Thomas Association of REALTORS® (LSTAR) announced 1,146 homes exchanged hands last month in its jurisdiction, 1% less than in May 2018 and 26% down from May 2017, which was a record-setting month – with 1,549 homes sold. The number of active listings for the same area sat at 1,855 in May, with most LSTAR regions seeing year-over-year increases, with the exception of London East and St. Thomas, where this number decreased.

"Some of the May figures show signs of market stabilization, with London North, Elgin County and Middlesex County entering a more balanced territory," said Earl Taylor, 2019 LSTAR President. "This is not the case of St. Thomas, which is still very much a Sellers' Market. In fact, last month, the sales-to-new listings…

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