News

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.

With your support and enthusiasm at the 2024 LSTAR Slo-Pitch Tournament, we were able to give back to the Community, including two amazing charities, ARK AID STREET MISSION in London and HOSPICE OF ELGIN in St. Thomas! The weather was perfect, and such a great day for everyone involved, including players, attendees, and sponsors. We can't thank you enough!

Head to Domino's on June 5th, 6th, 12th & 13th in London, St. Thomas & Aylmer, and take advantage of these EXCLUSIVE Pizza Deals! By ordering either of the 2 SPECIALS, a portion of your order will go directly to Ark Aid Street Mission (London) and Hospice of Elgin (St. Thomas).

The local housing market continued its steady streak in May, with 774 homes exchanging hands via LSTAR's MLS® System. 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.

In April, 710 homes exchanged hands via LSTAR's 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.

Today, the Federal Government released “Canada’s Housing Plan”, an ambitious action plan aimed at addressing Canada’s housing crisis and making housing more affordable. This extensive plan outlines a multi-pronged approach and provides an extensive list of measures geared towards increasing housing supply, helping Canadians rent or buy a home, construction innovation, and protecting consumers.

LSTAR's MLS® System recorded 636 homes sold last month, 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. Overall, housing supply increased slightly in our region - from 2.7 months of inventory in February to 2.9 months in March.