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London Real Estate Market Update – July 2019

LSTAR (The London and St Thomas Association of REALTORS®) had another record-breaking month!

For July 2019 – 1,043 homes sold – 5.4% more than July 2018

The LSTAR President offered the following comments “This makes last month the best July on record for LSTAR residential sales since the Association started tracking home sales back in 1978. Looking at last month’s home sales in the five main regions of LSTAR, it’s worth to note that Middlesex County saw its best July in the last decade, with 99 units sold”

Overall, the number of new listings increased in July to 1,415, 13% more than a year ago. There were 912 listings in London, 109 in Elgin County, 121 in Middlesex County, 84 in St. Thomas and 57 in Strathroy.

Days On Market

  • London – 13.5 – up from 10 days last month.
  • Elgin County – 20 – down from 21
  • Middlesex County – 24 – up from 13 days
  • St. Thomas and Strathroy – 12 days – as compared to 11 days last month

Average Home Prices Across London Region

Average Sale Price By Area

  • London East was $330,846, up 14.4%
  • London North was $488,418, up 10.6%
  • London South, it was $430,034 , up 16.4%

Average Sale Prices Across Canada

The following chart is based on data taken from the CREA National MLS® Report for June 2019