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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
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 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

"Not All Realtors Are The Same"! This website and content are for you and are designed and constantly upgraded with the latest real estate trends, how-tos, and what is for sale on MLS. Our primary focus is guiding home buyers and sellers to make good decisions. We believe selling real estate is a process, not an event or knee-jerk reaction; we sleep well at night and ensure our clients do as well! We are not for everybody, nor can we please everybody, nor do we tell people what they want to hear; I know that may be old-fashioned and boring, but we are dealing with hundreds of thousands of your hard-earned money. Would you rather be happy, excited and bored or unhappy, excited and make a poor choice? About Ty I am a Broker with Sutton Group Preferred Realty Inc., Brokerage and the team leader for The Envelope Real Estate Group, that's enough about me! You see, this is about you, you do not want to hear blah blah stuff about awards, designations, or that we walk older adults across the street (I used to help old ladies cross the street, but as I got older I did not want my wife to think I was flirting) the reincarnation of Mother Teresa, walk on water or anything else to impress you. We let the numbers speak for themselves; success leaves clues!

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