LONDON, ONT. -- The local real estate market remains red hot. The London and St. Thomas Association of Realtors (LSTAR) says November was a banner month for sales and prices.
LSTAR says 854 homes were sold in November an increase of more than 33 per cent - the best November since LSTAR started keeping stats in 1978.
Meanwhile, the overall average price climbed to $536,178, a 28.8 per cent increase from November 2019.
LSTAR Nov. 2020 figures (Supplied)
“This is the third consecutive month of record sales, demonstrating how robust the housing marketplace is right now,” said LSTAR President Blair Campbell in a release.
“We continue to see increases in average sales price across the region in a market with historically low supply.”
London South saw the biggest year-over-year increase in the average price, at $555,682, up 33.9 per cent compared to November 2019, London North, $619,908, up 26.8 per cent and London East was $427,639, up 27.4 per cent.
