The London and St. Thomas Association of REALTORS® (LSTAR) announced 757 homes exchanged hands last month, slightly down 10.2% from the same time a year ago. Year-to-date sales are up 10.6%, with a total of 10,111 homes sold, marking the second consecutive year residential sales have surpassed 10,000 across the region.
The CREA Residential Market Activity Report provides more data, featuring an in-depth look at home sales trends happening across London and St. Thomas. Here it is.
In October, the average sales price across London and St. Thomas was $325,331 up 14.2% from the same time a year ago. The average year-to-date sales price was $330,497 up 18.3% from October 2016.
In London East, home sales are up 21.2% compared to a year ago, while in London South, sales are up 13.9% and in London North, sales are up 6.5% compared to this time last year.
In October 2017, there were 847 listings, down 17% from the same time last year. St. Thomas saw a total of 67 homes sold, down 21.2% from 2016 and the average home price in St. Thomas was $284,344 up 25.7% from October 2016.
The following chart is based on data taken from the CREA National MLS® Report for September 2017 (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.