LSTAR (the London and St. Thomas Realtors Association) has released its real estate market report for February 2019.
- 603 homes were sold in February, up 5.6% over February 2018
- Two months into 2019, there have been 1,128 home resales, up 10.8% compared to 2018
Across the region, average home sales price continue to rise
- Elgin County, with a February average sales price of $360,800, up 33% compared to February 2018
- London, the February average sales price was $405,186, up 13.5% from 2018
- Average sales price for the region was $393,911, up 12.5% compared to February 2018
|Area||February Average Sale Price|
LSTAR President offered the following comments “It’s important to point out that the average sales price does include all housing types, including single detached homes, as well as high rise apartment condominiums. All real estate is local, so your best source for information on the marketplace is going to come from a professional REALTOR®.”
London Sale Prices By Housing Type
- Average sales price for a 2-storey home in London was $543,114, up 12.7% from Feb 2018
- Average sales price for a high rise apartment condo was $246,070, up 27.1% from Feb 2018
- Average sales price for a 1-storey home (bungalow or ranch style) was $368,664, up 8.9%, compared to February 2018.
Average Sale Prices Across Canada
Did You Know?
According to a research report1, a total of $67,425 in ancillary expenditures is generated by the average housing transaction in Ontario over a period of three years from the date of purchase. “When you look at the first two months of the year, that’s generating potentially more than $76 million into the economy,” Taylor said. “We cannot underestimate the financial impacts of the business of real estate. It touches everyone in the community, our local businesses, shopping centres, schools and government services.”