Here is your London real estate market update for September 2017
The London and St Thomas Association of REALTORS® (LSTAR) announced 802 homes exchanged hands last month, marking the third consecutive year that more than 800 homes were sold in the month of September*.
Key Market Points
- 646 detached homes were sold, a decrease of 9.8% from the previous year
- Condominium sales were up 4.0% from 2016, with 156 units sold.
- Average sales price across London and St. Thomas was $318,347
- Average year-to-date sales price was $328,759, up 17.8% from the 2016 average
According to the Canadian Real Estate Association (CREA), there was a roughly even split of local markets where sales posted a slight decline and others saw a slight increase.
Key September Facts
In September,
- 1,026 listings, up 3.3% from the same time in 2016.
- St. Thomas saw a total of 71 homes sold, up 6.0% from the same time last year
- Best-selling house style in September was the two-storey, followed by the bungalow and ranch.
- Average price for a detached home in September was $337,574 down 1.7% from the previous month
- Average price for a condominium was $238,730 up 2.0% from September 2016
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