Real Estate Blog - Brian VanBart's Blog

The London and St. Thomas real estate market has shown encouraging signs of growth and stability in October 2024. Sales activity notably increased, with 661 transactions recorded, up from 526 in October 2023. This represents a significant recovery from the previous year and highlights the market’s resilience. The average price of $623,189 for the LSTAR region was up 0.3% from October 2023 and down 3% from last month’s $641,583.

New listings remained strong, with 1,388 new properties entering the market, slightly down from 1,415 in October 2023 but still reflecting a healthy supply of homes for potential buyers. This level of new listings is one of the highest in the past decade, indicating robust seller confidence.

In October 2024, new listings…

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The London and St. Thomas Association of REALTORS® (LSTAR) region remains a vibrant market for both buyers and sellers. September’s market activity and year-to-date figures show encouraging trends.

In September 2024, 562 homes were sold, representing a 6.0% increase from September 2023 and a 0.5% rise from September 2022. The average home price was $641,583, reflecting a 1.7% increase from September 2023 but a slight 1.0% decrease from September 2022. We had 1,569 new listings last month. LSTAR also recorded 3,049 active listings, an increase of 19.8% from the same time last year.

LSTAR Chair Kathy Amess commented, "The London and St. Thomas area continues to be a great region for both buyers and sellers. We saw some positive signs in September’s…

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The real estate market in the London and St. Thomas area showed mixed results in August. Sales activity declined, with 577 homes sold, marking a 6.0% drop from the same month last year. The average sale price also decreased by 4% to $629,500. However, active listings saw a 19% increase compared to August 2023.

LSTAR Chair Kathy Amess noted, “Despite the fluctuations in sales activity, average price and dollar volume, the increase in new and active listings indicates a more balanced market, providing more opportunities for buyers and sellers alike.
There are lots of opportunities for buyers in this market, which in turn benefits our sellers. Additionally, with the Bank of Canada lowering its key interest rate to 4.25% today, we anticipate a potential…

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In July 2024, the real estate market in the London St. Thomas region demonstrated significant activity, with 604 homes sold, as reported by the London St. Thomas Association of REALTORS® (LSTAR). The average home price was $654,593, indicating the market’s pricing trends. Additionally, there were 1,531 new listings, suggesting a robust supply of homes entering the market. Overall, the data points to a dynamic and balanced market, characterized by a healthy volume of transactions and a steady influx of new listings.

Kathy Amess, the LSTAR Board Chair, commented on the market’s performance: “The real estate market in London continues to show resilience and adaptability. The increase in new listings is a positive sign, indicating that sellers are…

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In June 2024, the real estate market in our region saw significant fluctuations in activity, with 678 homes exchanging hands, according to the latest MLS® statistics of the London St. Thomas Association of REALTORS® (LSTAR). The average price of a home in the region was $671,309. The number of new listings in June was 1,510. We remain optimistic that the anticipated rate cuts by the Bank of Canada will stimulate the real estate market over the summer months.

Central Elgin’s average price increased to $822,389, while London East saw a rise to $530,031. London North experienced a slight decrease in average price to $753,575, and Middlesex Centre had a substantial increase to $1,164,378. These figures indicate a dynamic market with varying trends across…

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The local housing market continued its steady streak in May, with 774 homes exchanging hands via the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR). Housing supply showed signs of market stabilization, with three months of inventory in May, unchanged from the month before. Year to date, sales are outpacing 2023, with 3,161 total sales, up 1.8% from the same period last year.

“We continue to see the trend of more new listings coming on the market, which explains the healthy level of housing stock across LSTAR’s region,” said 2024 LSTAR Chair Kathy Amess. “In May, there were 1,563 new listings, slightly up from the 1,425 new listings in April, with an overall sales-to-new listing ratio of 49.5%. According to the Canadian Real…

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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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636 homes were sold last month via the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR), 11.3% less than in March 2023. The number of newly listed properties surged from 1,024 in February to 1,233 in March, marking an 11.8% increase over a year ago.

“For LSTAR, this was the March with the lowest number of home sales in the last decade, partly because of the statutory holiday Good Friday, which fell at the end of the month this year, and not in April, as usual," said 2024 LSTAR Chair Kathy Amess. “However, the number of new listings was in line with the Association’s ten-year average for the month of March,” she pointed out.

Out of the 636 homes exchanging hands in March in LSTAR’s jurisdiction, 449 were single-family homes,…

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594 homes exchanged hands last month via the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR), marking a 33.2% increase in sales activity over February 2023. The number of newly listed properties rose from 873 in January to 1,024 in February, showing a 31.8% increase over a year ago.

“While the number of home sales remained on par with LSTAR’s 10-year-average for February, the number of newly listed properties soared to new heights, reaching its second highest value for that month," said 2024 LSTAR Chair Kathy Amess. “Many of the Sellers who chose to adopt a ‘wait-and-see’ approach in the last months of 2023 were encouraged by the fact that the Bank of Canada decided once again not to increase its benchmark rates,” she…

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439 residential transactions were recorded last month via the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR), 28.7% more than in January 2023. The number of newly listed properties climbed from 386 in December 2023 to 873 in January 2024.

“The number of home sales is consistent with LSTAR’s 10-year-average for January, but the jump in newly listed properties is significant.  In January we saw the third highest number of new listings for that month," said 2024 LSTAR Chair Kathy Amess.

Out of the 439 properties sold in January, 329 were single-family homes, 74 were townhouses, and 31 – apartments. January’s average price for a single-family home in LSTAR’s jurisdiction sat at $660,686, while that of a townhouse settled at…

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