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July Market Sees Strong Activity with 604 Homes Sold

In July 2024, the real estate market in the London St. Thomas region demonstrated significant activity, with 604 homes sold, as reported by the London St. Thomas Association of REALTORS® (LSTAR). The average home price was $654,593, indicating the market’s pricing trends. Additionally, there were 1,531 new listings, suggesting a robust supply of homes entering the market. Overall, the data points to a dynamic and balanced market, characterized by a healthy volume of transactions and a steady influx of new listings. Kathy Amess, the LSTAR Board Chair, commented on the market’s performance: “The real estate market in London continues to show resilience and adaptability. The increase in new listings is a positive sign, indicating that sellers are confident in the market’s strength. We are seeing a healthy balance between supply and demand, which is crucial for maintaining stability.”

June Market Shows Steady Growth in Housing Prices

In June 2024, the real estate market in our region saw significant fluctuations in activity, with 678 homes exchanging hands, according to the latest MLS® statistics of the London St. Thomas Association of REALTORS® (LSTAR). The average price of a home in the region was $671,309. The number of new listings in June was 1,510. We remain optimistic that the anticipated rate cuts by the Bank of Canada will stimulate the real estate market over the summer months. Central Elgin’s average price increased to $822,389, while London East saw a rise to $530,031. London North experienced a slight decrease in average price to $753,575, and Middlesex Centre had a substantial increase to $1,164,378. These figures indicate a dynamic market with varying trends across different areas.