London Real Estate Market Update – April 2017
The latest real estate market statistics are out for London, Ontario. LSTAR (The London & St Thomas Association of Realtors) reported that 983 homes* have been sold in April. this is down 19.6% from April 2017.
LSTAR’s president offered the following comments: “While home sales are down compared to the record breaking total in 2017, they remain at par with the 10-year average. However, home prices continue to rise across the region as we continue to see a much lower level of homes available for sale than the last few years.”
London Area Market Breakdown
- Average April sales price in the region: $367,433
- South average price: $375,031
- North average price: $454,847
- East average price: $306,469
- St. Thomas average price: $285,316
Low Inventory
- April, there were 1,401 active listings, down 13.9% from this time last year and down 50.6% from April 2016
- St. Thomas had 56 active listings, down 38.5% from last April and down 68.5% from April 2016
- Sales-to-new listings ratio was 70.9%, which the Canadian Real Estate Association (CREA) says represents conditions in the marketplace that favour sellers
Average Prices Across Canada
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