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New Mortgage Rules in Canada: Key Changes to Boost Homeownership
On December 15th, two significant changes to mortgage rules in Canada took effect, aimed at making homeownership more accessible and affordable for Canadians.
We are one of Canada’s largest real estate associations.
We serve and represent over 2,300 REALTORS® from London, St. Thomas, Strathroy, Middlesex County, & Elgin County.
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November 2024 LSTAR Statistics
614
Homes Sold
1,102
New Listings
4.5
Months of Inventory
55.7
Sales-to-New Listings Ratio
$640,198
Average Sale Price
$612,100
MLS® HPI Benchmark Price
Latest News
Interest Rate Cuts Fuel November Real Estate Market Increase
In November, the average sale price in the real estate market in LSTAR's jurisdiction was $640,198, reflecting a 5.9% increase compared to the same month last year. This rise in prices highlights the ongoing demand and value in the market. Sales activity also saw a significant boost, with 614 transactions, marking a 35.5% increase year-over-year. New listings saw a significant rise of 10.8% year-to-date, providing more options for buyers.
December 4, 2024
Market Shows Resilience with Increased Sales in October
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.
November 4, 2024
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