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London Real Estate Market Update – May 2018

London Real Estate Market Update – May 2018

LSTAR ( The London & St Thomas Association of realtors) has released its market update for May, 2018.

LSTAR offered the following comments: “We’re very encouraged by the sales in May, which represent the third best May results LSTAR has had. The homes sold are actually above the 10-year average, despite the ongoing challenge of low inventory in the marketplace. Similar to what’s happened each month this year, home prices continue to gradually increase across the region, as fewer homes are available for sale.”

Market Breakdown

Average May sales prices around London:

Low Inventory Continues To Slow Market

Average Sales Prices Across Canada

The following chart is based on data taken from the CREA National MLS® Report for April 2018 (the latest CREA statistics available). It provides a snapshot of how average home prices in London and St. Thomas compare to other major Ontario and Canadian centres.

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