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Record House & Condo Prices London Ontario In 2021

Record House & Condo Prices London Ontario In 2021

Five hundred & thirty homes in London Ontario & the area were sold through MLS in December 2021, making it the second-best December for residential transactions since LSTAR (London St.Thomas Association of Realtors) started tracking data in 1978. 10,964 homes sold in total in 2021, leaving the inventory levels (homes for sale) at historic lows and pushing the home prices up. 

At the end of December 2021, there were 175 active listings on the Association’s MLS® system, with only 0.3 months of housing inventory left. The Aggregate Composite Benchmark price for the entire London-St. Thomas area was $657,600 – 37.5% higher than in December 2020, while the overall LSTAR average price sat at $707,219 – up 27.6% from a year ago. 

The MLS® Home Price Index (HPI) benchmark price is more accurate than the average price of a home, and this reflects the value of a ‘typical home’ as perceived by buyers from certain areas based on various housing attributes.

The following table shows how December’s average sales prices compare to the benchmark prices.

house & condo prices in London Ontario Increasing
AreaDecember 2021 MLS® HPI Benchmark PriceDecember 2021 Average Price
Central Elgin$692,100$778,490
London East$569,800$559,723
London North$776,400$867,374
London South$654,400$713,252
Middlesex Centre$977,300$1,058,299
St. Thomas$570,000$656,923

In 2021, 8,125 single-family homes sold! 1,364 condo townhouses and 1,009 apartment condos sold in setting a record for townhouses and condos in London Ontario.

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

MLS® Home Price Index Benchmark Prices
Benchmark TypeDecember 2021Change over December 2020
LSTAR Composite$657,600↑ 37.5%
LSTAR Single-Family$710,400↑ 34.5%
LSTAR One Storey$638,100↑ 37.2%
LSTAR Two Storey$777,500↑ 33.0%
LSTAR Townhouse$529,900↑ 51.5%
LSTAR Apartment$371,600↑ 48.9 %

Despite increases to the HPI benchmark price and average sales price, homes in LSTAR’s jurisdiction remain relatively affordable compared to houses from some other major Ontario and Canadian centres. The following chart is based on data taken from the CREA National Price Map for November 2021.

MLS® Home Price Index Benchmark Prices in Canada at the End of November 2021
Search All MLS houses for sale in London Ontario & Area
All the townhouses 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!

One Response to “Record House & Condo Prices London Ontario In 2021”

  • Shabnam Lhaja
    Written on

    Wow Ty
    That is good news indeed!

    I think we will hold on to our condos for now

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