In November, 492 homes exchanged hands via the MLS® (Multiple Listing Service) System of the London and St. Thomas Association of REALTORS® (LSTAR). That was down 19.2%, compared to the same month a year ago, but up 15.5% from November 2023.
“Although down from the previous November, sales were on par with activity in the last four years,” said Dale Marsh, 2025 LSTAR Chair. “Based on the economic climate across the country and the uncertainty in the marketplace, many potential buyers remain on the sidelines. This is evident by the 5.7 months of inventory in November, which is the highest inventory level recorded in the month, over the past 10 years.”
Average sales price remained virtually unchanged from the previous month. It was $604,994 in November, down 5.6% compared to the same time a year ago. In October, average sales price was $605,560.
“Historically, we usually experience a quieter season during the winter months,” Marsh said. “With the amount of inventory available, it may be an opportune time for potential buyers to get into the market. Your local REALTOR® can be a resourceful guide to help those looking to buy or sell a home.”
