Courtesy of Dwyer Team

MARCH SALES DROP AMID UNCERTAINTIES

$643,153 all residential DOWN 0.6% year-to-year

508 SOLD LISTINGS 1,224 NEW LISTINGS 41.5% SALES TO NEW LISTING RATIO

Benchmark Price

4.8 MONTHS OF INVENTORY

London, ON – April 3, 2025 – The London and St. Thomas Association of REALTORS ® (LSTAR) reported a significant decline in sales activity for March 2025, with only 508 transactions, marking a 33.5% decrease from the previous year. New listings decreased by 11.0%, while active listings increased by 21.1%, indicating a growing inventory. The average price of homes in the region decreased slightly by 0.6% to $643,159. The sale to list price ratio remained close to previous years indicating sellers are still achieving near their asking prices. LSTAR Chair Dale Marsh remarked, “The Canadian real estate market is facing a challenging environment due to various factors, such as U.S. tariffs and broader economic uncertainties.

These uncertainties have clearly impacted consumer confidence, leading to the volatility we’re observing.” Despite interest rates being at acceptable levels, buyers are hesitant to make significant purchases, opting to wait and see how tariffs might affect their employment. However, there are positive aspects to consider. The current market conditions may present opportunities for buyers who are prepared to act. With fewer buyers actively purchasing, there could be less competition for available properties, potentially leading to better deals. Statistics reflect market activity in March 2025 | Source: London St. Thomas Association of REALTORS ® | Market values stated are of the benchmark of London St. Thomas. Individual home market values vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

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