Courtesy of Dwyer Team

Home sales increase from September to September

$641,583 all residential

UP 1.7% year-to-year

562 SOLD LISTINGS 1,569 NEW LISTINGS 35.8% SALES TO NEW LISTING RATIO

Benchmark Price

5.4 MONTHS OF INVENTORY

October 2, 2024, London, ON – The London and St. Thomas Association of REALTORS ® (LSTAR) region remains a vibrant market for both buyers and sellers. September’s market activity and year-to-date figures show encouraging trends. In September 2024, 562 homes were sold, representing a 6.0% increase from September 2023. The average home price was $641,583, reflecting a 1.7% increase from September 2023. We had 1,569 new listings last month. LSTAR also recorded 3,049 active listings, an increase of 19.8% from the same time last year. LSTAR Chair Kathy Amess commented, “The London and St. Thomas area continues to be a great region for both buyers and sellers. We saw some positive signs in September’s market

as well as our year-to-date activity showing modest increases. The Bank of Canada rate decrease in early September was a welcome adjustment that may have been a factor, and we hope this trend continues throughout the fall.” LSTAR Chair Kathy Amess: “The recent trends in benchmark prices reflect the ongoing adjustments in our housing market. While some segments, like one-storey homes, are seeing positive growth, others are experiencing declines. This market requires careful navigation, and LSTAR remains dedicated to providing our members and the community with the insights and support needed to make informed decisions.” Statistics reflect market activity in Sept 2024 | 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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