London remains 'an attractive housing market': LSTAR's latest numbers

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The benchmark price of a home in the London St. Thomas area increased over $10,000 in value last month – that’s according to the latest report from The London St. Thomas Association of Realtors (LSTAR).

That’s good news for Londoners if you ask LSTAR Chair Kathy Amess, "when compared to the prices recorded in other provincial and national centres, homes within LSTAR’s jurisdiction appear competitive for buyers, positioning the region as an attractive housing market."

The average sales price of a home in the region was $671,309, up from the $660,430 reported in May. 678 homes changed hands this June - that's down from 774 in May. 

The report indicated that single family homes and town houses remain attractive and competitive, increasing in value over by 1.7 and 3.2 per cent respectively since May 2024, while since March, apartments have decreased 3.7 per cent.

The number of new listings recorded in June was 1,510 – very close to May’s reported 1,563 listings.

Amess noted, “While some areas have seen fluctuations, the overall market remains strong, providing opportunities for both buyers and sellers.”

LSTAR is hopeful that projected rate cuts will create increased activity in the market in the coming months.