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In April, 710 homes exchanged hands via the London and St.
Thomas Association of REALTORS® (LSTAR) 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.
“More new listings came on the market in April, which continues to show a
marketplace with some balance between buyers and sellers," said 2024
LSTAR Chair Kathy Amess. “We saw 1,425 new listings, up 43.8% over the
previous year, with an overall sales-to-new listing ratio of 52%. According
to the Canadian Real Estate Association (CREA), a ratio between 40% and 60%
is generally consistent with a balanced market.”
The average sales price in April was $656,037, slightly down 1.5% compared to
April 2023. It is slightly up 1.5% from the average sales price in March,
which was $646,155. Meanwhile, the Composite MLS® Home Price Index (HPI)
Benchmark Price was $602,800, unchanged from a month ago and up 5.1% compared
to three months ago.
The table below displays April's average prices and MLS® HPI Benchmark Prices
in LSTAR's main regions.
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