The London St.Thomas Association of Realtors (LSTAR) residential sales activity hit a new record in October, with 928 homes1 exchanging hands. This brings the total number of 2019 London Ontario and area MLS home sales to 8,909, 3.4% higher than the October 2018 year-to-date figures.
This was the best October on record.
The number of active listings saw a slight year-over-year uptick in October – from 1,596 in 2018 to 1,716 in 2019, but stayed well below the 10-year average. The sales to new listings ratio for the entire Association’s jurisdiction sat at 79.5% last month, 2.4% higher than in October 2018, but still a seller’s market.
Overall, the average home price was $412,883. This represents an 8.7% increase over October 2018 but is slightly lower than the August average home price of $413,000.
|Area||October Average Sale Price|
Looking at London’s three main geographic areas, the average home price in London East was $340,530, up 8.9% from last October. In London South (which includes data from the west side of the city), the average home sales price was $425,631, up 7.4% compared to the previous year, while London North saw an increase of 2.2% over last October, with an average home sales price of $486,584.
The following chart is based on data taken from the Canadian Real Estate Association (CREA) National Price Map for September 2019 (the latest CREA statistics available). It provides a snapshot of how home prices in London and St. Thomas compare to some other major Ontario and Canadian centres.