LSTAR September Home Sales Set New Record

 The London and St. Thomas Association of REALTORS® (LSTAR) announced September achieved a record for residential sales, with 960 homes exchanging hands, up 25% compared to the same time a year ago. This represents the best results ever for September since the Association began tracking data in 1978.

"The strong momentum experienced during the summer months continued through September," said 2020 LSTAR President Blair Campbell. "Similar to many other housing markets across Canada, many are still playing catch up from the COVID-19 lockdown we had during the spring."

The average home sales price across the region also reached a new peak of $521,883, up 28% over September 2019 and up more than 98% compared to the same time five years ago.

"Each of the five major areas in LSTAR's jurisdiction posted gains, led by Middlesex with average sales price of $575,785,"Campbell said. "Again, it's important to note this figure encompasses all housing types, from a 2-storey single detached home to a high-rise apartment condominium."

The following table shows last month's average home prices by area and how they compare to the values recorded at the end of September 2019.

Area	September 2020 Average Sale Price	Change over September 2019
Elgin County	$498,098	↑ 17.6%
London	$527,414	↑ 30.1%
Middlesex County	$575,785	↑ 18.1%
St. Thomas	$433,504	↑ 26.7%
Strathroy	$526,614	↑ 14.0%
LSTAR	$521,883	↑ 28.0%

Taking a closer look at the region's geography, London North achieved a new peak in average sales price, at $613,755, up 28.3% compared to the same time a year ago. It's the first time the average sales price in London North has surpassed $600,000.