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London and St. Thomas Association of REALTORS® (LSTAR) announced 861 homes were sold last month, marking the second-best September for home resales, since the Association began tracking data in 1978.
In September 2019, home resales across the region were up 11.8%, compared to the same month last year. With three months left in the year, close to 8,000 homes have exchanged hands, which is up 3.6%, compared to this period in 2018.
Meanwhile, inventory remains low, with active listings at 1,841, up 8.8%, compared to September 2018. This number is well below the 10-year average. For comparison, this is down 22.6% compared to three years ago and down 49.6% compared to five years ago.
Low inventory has an impact on the average home sales price. Each of the five major areas in LSTAR’s jurisdiction saw an increase last month. It was up 20.4% in Elgin County, up 6.6% in Middlesex and up 6.5% in Strathroy. London and St. Thomas also saw gains, up 5.1% and 4.3% respectively.
Overall, the average home price was $412,208. It represents an increase of 6.8% from September 2018 but is almost on par with the average sales price of $413,010 from August.
September Average Sale Price
Looking closer to London by geographic area, the average price in London East was $343,404, up 13.7% from last September. In London South (which includes data from the west side of the city), the average home sales price was $406,388, up 5.4% compared to the previous year, while London North saw a slight decrease of 2.2% over last September, with an average home sales price of $485,102.
The following table is based on data taken from the Canadian Real Estate Association (CREA) National MLS® Report for August 2019 (the latest CREA statistics available). It provides a snapshot of how average home prices** in London and St. Thomas compare to some other major Ontario and Canadian centres.
August Average Sale Price
|London St. Thomas||
2017 London Ontario Population Growth – Where people came from:
- 2,461 – Other parts of Ontario
- 2,346 – Non-permanent residents, students and temporary foreign workers
- 1,855 – Immigrants, refugees
- 1,030 – Natural growth, of births minus deaths
- 922 – Other parts of Canada
Londoners have a rich history of volunteering and community involvement. With National Volunteer Week being in April I thought I would pat those volunteers on the back!
Most donors and volunteers are active because of what is in their hearts, not the visibility in the press or self-promotion.
A recent survey carried out by Stats Canada found that London’s volunteer rate is at 60%, which is well above the Canadian average of 46%. In Ontario, it is the highest of any other city or community!
On average, London volunteers contribute 153 hours to volunteering with a nonprofit or voluntary agency each year and the economic value is an incredible 672 million dollars
London Ontario sustains over 1200 nonprofit groups and charities. So, what are you doing this week?
Help someone, call someone, smile at someone, help an old lady across the street, help a young lady across the street, feed the birds, pick up some litter, pat a dog, instead of giving the finger to someone, give a wave and a smile, that will really upset them!
Working & Growth London Ontario
Stodgy London Ontario? Conservative London Ontario? Passive, moderate, a university city, industrious, medical, science, forest city, golf central, the city council in conflict, old vs. new, welcome to London!
London’s economic growth over the past few years, the affordability of housing and the midway point between the GTA and Detroit has been a beacon for both the young and the retiree to live in London.
Education, science, manufacturing, tech and social newcomers have attracted and are attracting all age groups which in turn supports the new restaurants, retail, professional services that depend on a currency of new ideas and the vitality of vigorous activity.
The result is a diverse, eclectic, stodgy, exciting and a vibrant mix of people who make this city a wonderful, safe city to live in!
The links below are a start for you to discover London Ontario, even if you live here, have visited once or were so-called educated here,open up, don’t block, look at this city as a gift, it may not have everything that we perceive as we want, but at the end of the day, embrace it, London is alive & flourishing .
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