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July 2022 Real Estate Market London Ontario Is Balancing Out

514 homes in July 2022 sold through the London and St. Thomas Association of REALTORS® (LSTAR).

In June 2022 there were 2.8 months of inventory (homes for sale), July 3.6 months creating a more balanced market The average home price fell slightly from $686,287 in June to $667,323 in July 2022, still 7.1% higher than in July 2021.

The following table shows how July’s average home sales prices in LSTAR’s main regions compared to the benchmark prices for the same areas.

AreaJuly 2022 MLS® HPI Benchmark PriceJuly 2022 Average Price
Central Elgin$627,700$629,313
London East$511,900$559,189
London North$747,900$764,082
London South$620,700$669,723
Middlesex Centre$876,300$1,047,045
St. Thomas$531,900$560,360

Single-family homes remain the most popular with 384 units sold, apartment condo’s average price was $454,421, up 19.6% from July 2021.

The following table shows the July benchmark prices for all housing types in LSTAR’s jurisdiction and how they measure from the previous year.

MLS® Home Price Index Benchmark Prices
Benchmark TypeJuly 2022Change over July 2021
LSTAR Composite$624,400↑ 6.4%
LSTAR Single-Family$662,300↑ 4.8%
LSTAR One Storey$590,600↑ 5.3%
LSTAR Two Storey$711,400↑ 4.6%
LSTAR Townhouse$541,200↑ 10.5%
LSTAR Apartment$442,500↑ 21.7%
MLS® Home Price Index Benchmark Prices in Canada - July 1st, 2022
Home Prices Across Canada June 2022
All Houses For Sale London Ontario
All Townhouses For Sale London Ontario
All apartment condos for sale in London Ontario

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Ty Lacroix

Founder & Owner & Broker of Record of Sutton Group Envelope Real Estate Inc, That's all I can say about me! You see, this is about you, not me; you do not want to hear blah blah stuff about awards, designations or that we walk older people across the street, the reincarnation of Mother Teresa, walk on water or anything else to impress you. We let the numbers speak for themselves; you see, success leaves clues!

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