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London Real Estate Market Update January 2021

Record Sales & Prices Continue Throughout January

In London and St. Thomas resale housing market 547 homes exchanged hands last month. This marks the highest number of home sales in the month of January since the Association began tracking data in 1978. 

The London & St Thomas Real Estate Association President offered the following comments: “2021 came in like a lion for the LSTAR housing market, which continues to see very low inventories and record home prices in all its main areas. Across all LSTAR main regions we witnessed increases not only in average home prices – which can be sometimes skewed by a few outliers – but also in the HPI benchmark prices for these regions – which paint a more accurate picture of the local property values.” 

Average Home Breakdown By Area ( London)

The average home prices across the London region have steadily increase: London North now $725,000, Middlesex County now $603,740, and St Thomas is now $498,372.

Average Home Price Across LSTAR At An All-Time High

Across LSTAR the average sale price os now $607,431.

Breakdown Of Sales By Home Type

Of all the homes sold across London the breakdown was as follows:  413 were single-family homes, 57 were townhouses and 57 were apartments.

Average Home Sales By Home Type

MLS® Home Price Index Benchmark Prices
Benchmark Type January 2021 Change over January 2020
LSTAR Composite $511,500 ↑ 26.2%
LSTAR Single-Family $561,200 ↑ 30.1%
LSTAR One Storey $488,000 ↑ 23.8%
LSTAR Two Storey $634,500 ↑ 33.6%
LSTAR Townhouse $374,200 ↑ 12.5%
LSTAR Apartment $294,600 ↑ 14.3%

Average Home Prices Across Canada