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 October results mark a new chapter for LSTAR, after launching the CoreLogic Matrix platform as part of the Ontario Collective, a collaborative group of 13 real estate boards and associations across Ontario focused on delivering robust data, tools, and the best available technology to support over 5,000 REALTORS®.
"LSTAR was part of the Collective's first phase launch of this new enhanced regional MLS® System, supporting our REALTOR® Members to better serve consumers," said Jim Smith, 2017 LSTAR President. "Along with the launch of Matrix, LSTAR has also upgraded its monthly home statistics reporting, thanks to a collaborative partnership with the Canadian Real Estate Association (CREA)."
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.
The Market here in Grand Bend is similar to the London area with a shortage of listings and the average sales price up as well, somewhere in the 8 - 12% range depending on the location of the property. If you are thinking of selling this is a good time with the shortage of good listings and I am sure the spring will be very active as well... let's hope!