News

On December 15th, two significant changes to mortgage rules in Canada took effect, aimed at making homeownership more accessible and affordable for Canadians.

Thursday, December 5, marked LSTAR's annual Kettle Day in support of the Salvation Army’s iconic Christmas Kettle Campaign. While we were eagerly anticipating a day filled with warmth and camaraderie, Mother Nature had other plans, delivering a winter storm that transformed the landscape—and the day itself.

On Wednesday, December 11, our real estate community came together for an inspiring Community Care Day. The event was a heartwarming opportunity to visit shelter-based charities and witness firsthand the incredible work they do to support our communities.

On November 30 and December 1, our LSTAR members demonstrated the incredible power of teamwork and generosity during the annual BusinessCares Food Drive x REALTORS Care® Day weekend. Together, we came together to make a meaningful impact on our community, and we are thrilled to announce that this was our best year yet!

We are delighted to announce that the Children's Christmas Party was a wonderful success! This heartwarming event raised an estimated $7,000 in support of an incredible organization – Investing in Children. We are so grateful to everyone who helped us make a difference in our community.

We are very excited to share that the ‘Moulin Rouge’ Gala was an incredible success! All proceeds from this event are in support of three wonderful charities – Humana, Wellkin and Women’s Rural Resource Centre! Thanks to the generosity of our guests, sponsors, and volunteers, we were able to raise an estimated $23,000 to make a significant impact in our community.

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.

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.

The 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.