News

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.

Monday, September 30th is the National Day for Truth and Reconciliation (NDTR) in Canada. The NDTR is a statutory day of remembrance for the federal government and federally regulated workplaces to honour First Nations, Inuit and Métis survivors, their families and communities, to support public commemoration of their history, and to ensure the legacy of residential schools remains a vital component of the reconciliation process.

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.

As part of the REALTORS Care® Program, LSTAR is proud to have raised much-needed funds to support two deserving charities in our community! A huge thank you to everyone who participated in the LSTAR Slo-Pitch tournament—your support helped us raise approximately $13,000, which will be split between Ark Aid Mission and Hospice of Elgin.

LSTAR is proud to announce the recipients of the prestigious 2024 LSTAR Student Scholarship Awards. LSTAR grants $10,000 annually to four exceptional students, with each recipient receiving a $2,500 scholarship.

In July 2024, the real estate market in LSTAR's region demonstrated significant activity, with 604 homes sold, as recorded through LSTAR's MLS® system. 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.

Are you willing to be an Advocate for a deserving local organization or charity that could benefit from the Ontario REALTORS Care® Foundation’s Every REALTOR® Campaign? If so, please encourage them to apply to LSTAR no later than August 16, 2024, at 4:30 pm.

In June 2024, the real estate market in LSTAR's region saw significant fluctuations in activity, with 678 homes exchanging hands, according to the latest MLS® statistics. 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.