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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

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
Greater Vancouver$1,255,200
Fraser Valley$1,237,000
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
Huron – Perth$591,600 
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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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