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.
| Area | July 2022 MLS® HPI Benchmark Price | July 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 |
| Strathroy-Caradoc | $740,000 | $637,838 |
| LSTAR | $624,400 | $667,323 |
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 Type | July 2022 | Change 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% |
