Real Estate Blog - Blog Archive: January, 2024

Last month 335 homes exchanged hands via the MLS® System of the London and St Thomas Association of REALTORS® (LSTAR), bringing the total number of residential properties sold in 2023 in our area to 6,717. 

"2023 was the year with the lowermost number of units sold in LSTAR’s jurisdiction since we entered the new millennium," said 2023 LSTAR Chair Adam Miller. "This record low was caused by the high borrowing costs, which are weighing down heavily on the local consumers’ buying power," he added.

Out of the 335 properties sold in December, 248 were single-family homes, 58 were townhouses, and 27 – apartments. “In 2023, LSTAR Members sold 5,006 single-family homes, 1,078 townhouses, and 552 apartments,” Miller emphasized.

The number of newly listed…

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