$5.2 billion in homes changed hands in the London area in 2024
Realtor for sale signs in London, Nov. 5, 2024 (Bailey Shakyaver/CTV News London)
Local home sales climbed in 2024, according to the London and St. Thomas Realtors Association (LSTAR).
Nearly 8,100 homes were sold last year, an 8.4 per cent increase from 2023, amounting to almost $5.2 billion in sales.
However, compared to the home sales heyday that was 2021, home sales in London are down 34.7 per cent by dollar volume this year.
The average sale price was about $640,000, which is down roughly 1 per cent compared to the previous year.
(Source: London-St. Thomas Association of Realtors)
Homes are sitting on the market for longer as well, typically sitting for about 17 days as compared to just seven in 2021.
LSTAR officials say 2024 began slowly, but lower interest rates boosted sales in the latter half of the year.
You can read the full report here.
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