Real Estate Blog - Blog Archive: May, 2023

In April 2023, 964 new properties came on the market and 723 homes exchanged hands via the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR). 

“Since the beginning of 2023 we’ve been noticing steady month-over-month increases in the number of home sales and prices, which indicate that the property demand and the housing supply issue are still there. Both of these are also demonstrated by the sales-to-new-listings ratio, which sky-rocketed in April, and by the dwindling housing inventory," said 2023 LSTAR President Adam Miller.

The overall sales-to-new listings ratio for the entire London-St. Thomas area climbed from 63.5% in March to 75% in April, while the inventory plunged from 2 months in March to only 1.8 in April.

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