April Show sMore Signs of Stabilization
Posted by Brian VanBart on
In April, 710 homes exchanged hands via the London and St. Thomas Association of REALTORS® (LSTAR) MLS® System, a slight decrease of 2.9% compared to the same month a year ago. Year to date, there have been 2,381 total sales, up 6.1% from the first four months of 2023.
“More new listings came on the market in April, which continues to show a marketplace with some balance between buyers and sellers," said 2024 LSTAR Chair Kathy Amess. “We saw 1,425 new listings, up 43.8% over the previous year, with an overall sales-to-new listing ratio of 52%. According to the Canadian Real Estate Association (CREA), a ratio between 40% and 60% is generally consistent with a balanced market.”
The average sales price in April was $656,037, slightly down 1.5% compared…
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