Skip To Content

London Ontario Real Estate Market September 2022 Numbers

The London Ontario Real Estate Market in September 2022 settled down to a more reasonable time for buyers and a more realistically for home sellers. With more homes for sale and a rise in interest rates, homes are now on the market longer, few if any multiple offers and most sellers are willing to look at conditional offers.

London Ontario Real Estate Market has Settled!

497 homes sold via the MLS® System of the London and St. Thomas Association of REALTORS®(LSTAR). Housing supply made a healthy gain from 2.7 months of inventory in August to 3.4 months of inventory in September, showing more signs of market stabilization.

The average home sales price and composite MLS® Home Price Index (HPI) Benchmark Price both edged slightly down from August to September. LSTAR’s overall average home price fell from $648,036 in August to $635,256 in September. The composite MLS® HPI Benchmark Price saw a marginal decrease from $599,500 in August to $596,900 in September. The data represents a trend the majority of local real estate markets are seeing across the country, according to the Canadian Real Estate Association (CREA).

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

AreaSeptember 2022 MLS® HPI Benchmark PriceSeptember 2022 Average Price
Central Elgin$601,400$675,231
London East$487,900$495,326
London North$713,000$759,555
London South$591,000$614,261
Middlesex Centre$839,600$1,025,445
St. Thomas$508,800$541,569

The following table shows the September benchmark prices for all housing types in LSTAR’s jurisdiction and how they stack up against the values from the previous year.

MLS® Home price Index Benchmark Prices
LSTAR Composite$596,900↓1.3%
LSTAR Single-Family$641,000↓1.1%
LSTAR One Storey$578,900↓0.2%
LSTAR Two Storey$683,500↓1.5%
LSTAR Townhouse$496,200↓2.4%
LSTAR Apartment$390,800↓0.8%

Other real real estate markets in Canada

According to a research report by Altus Group, a total of $73,250 in ancillary expenditures is generated by the average housing transaction in Ontario over a period of three years from the date of purchase.

Click the links below to see what is for sale now in London, Ontario and the area.

Trackback from your site.

Ty Lacroix

"Not All Realtors Are The Same"! This website and content are for you and designed and constantly upgraded with the latest real estate trends, how-to’s and what is for sale on MLS. All the so-called Gurus of marketing and branding say a Realtor and their Brokerage should have a bio to let people know about them. I have always felt bios were boasting, bragging, or trying to impress readers; I’ve always felt that our actions and results should impress and not be all talk and no action! As they say in Texas:” All hat and no cattle”! So here goes: We are a small brokerage by choice but mighty in results (over $103 million in transactions since 2014). Our primary source of business is guiding home buyers and sellers to make good decisions. We are transformational in nature and by choice, not transactional! 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 by systemizing the predictable and humanizing the exceptional ( the last seven words are plagiarism, I have copied this from the Four Seasons Hotels & Resorts)! 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 perhaps in this era of me-tooism, deservism and impersonal artificial intelligence (an oxymoron), calls on hold for hours or people being busy looking after their busyness that expectations may be jaded! If you would like to know more about the disadvantages of us helping you, contact me, Ty Lacroix, Owner and Broker of Record; however, the advantages are exposed on this site. About Ty 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 old people 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; you see, success leaves clues!

Leave a Reply