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Record Real Estate Prices London Ontario For January 2022

The London and St. Thomas Association of REALTORS® (LSTAR) recorded five hundred twenty-nine home sales in January 2022, the second-best January for home sales ever.

The extraordinary buyers’ demand combined with the severe shortage of housing supply continues to favour home sellers . The LSTAR average home price climbed to $793,222, $90,000 higher than in December 2021 and more than double the value recorded in January 2019.

house prices London Ontario increases

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

AreaJanuary 2022 Average Price
Central Elgin$856,954
London East$604,600
London North$897,449
London South$818,517
Middlesex Centre$1,042,114
St. Thomas$689,687
Strathroy-Caradoc$758,641
LSTAR$793,222

While the bulk of last month’s sales consisted of single-family homes, condo townhouses and apartment sales continued to increase. Seventy-one condo townhouses and 62 apartment condos sold in January. The average price for a townhouse condo was $643,951; for an apartment condo,$463,466.

The following table shows the January 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 TypeJanuary 2022Change over January 2021
LSTAR Composite$697,700↑ 37.8%
LSTAR Single-Family$760,200↑ 35.9%
LSTAR One Storey$671,300↑ 37.6%
LSTAR Two Storey$840,700↑ 35.2%
LSTAR Townhouse$550,500↑ 47.3%
LSTAR Apartment$377,200↑ 47.1 %

Despite these increases in the HPI benchmark and average sale prices, homes in LSTAR’s jurisdiction remain more affordable than houses from many other Ontario and Canadian centres. The following table is based on the Canadian Real Estate Association (CREA) data for January 1st, 2022.

AreaMLS® Home Price Index Benchmark Price
Oakville – Milton$1,645,000 
Greater Toronto$1,259,900
Mississauga$1,257,600 
Greater Vancouver$1,255,200
Fraser Valley$1,237,000
Hamilton-Burlington$1,058,000
Cambridge$940,700
Kitchener-Waterloo $924,900
Victoria $920,400 
Guelph & District$910,400
Barrie & District$880,300
Brantford Region $758,300
Niagara Region   $748,800 
London St. Thomas$697,700
Ottawa$689,700
Woodstock-Ingersoll$683,700
Huron – Perth$591,600 
Calgary$458,800
Edmonton$339,600
Winnipeg$331,300
Saskatoon$328,600
CANADA$825,800
Search All MLS houses for sale in London Ontario & Area
AllApartment Condos for Sale in London Ontario on MLS
All the townhouses for sale in London Ontario

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Ty Lacroix

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 older people across the street, 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!

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