603 homes were sold in the London and St. Thomas Association of REALTORS® (LSTAR) area in February 2019, up 5.6% over February 2018. The number of home resales was right on par with the 10-year average.
Two months into 2019, there have been 1,128 home resales, up 10.8% compared to the same time last year.
Across the five major areas of LSTAR’s region, average home sales price continued to make healthy gains. The largest year-over-year gain was in Elgin County, with a February average sales price of $360,800, up 33% compared to February 2018.
Meanwhile, in London, the February average sales price was $405,186, up 13.5% from the same month last year. The average sales price for the entire LSTAR jurisdiction was $393,911, up 12.5% compared to February 2018.
|Area||February Average Sale Price|
The average sales price for a 2-storey home in London was $543,114, up 12.7% from February 2018. In comparison, the average sales price for a high rise apartment condominium was $246,070, up 27.1% compared to the same month in 2018. And the average sales price for a 1-storey home (bungalow or ranch style) was $368,664, up 8.9%, compared to February 2018.
The following chart** is based on data taken from the CREA National MLS® Report for January 2019 (the latest CREA statistics available). It provides a snapshot of how average home prices in London and St. Thomas compare to other major Ontario and Canadian centres.