Home Trends from The Dwyer Team

THE DWYER TEAM

Active Listings and Stable Prices Offer Hope for Buyers Amid Economic Uncertainty

ACTIVE LISTINGS 2,891

NEW LISTINGS 1,523

SOLD LISTINGS 653

BENCHMARK PRICE All Residential $654,147

London, May 5, 2025 – In April 2025, the London and St. Thomas Association of REALTORS® (LSTAR) reported 653 sales, a 14.3% decrease compared to April 2024. New listings totaled 1,523, reflecting a 10.1% decline year-over-year, while active listings increased by 19.6% to 2,891. The average price of homes was $654,147, a slight 0.5% decrease, from April 2024. Year-to-date figures show 2,107 sales, a 19.2% drop compared to the same period in 2024. New listings increased slightly by 1.5% to 5,190, while active listings rose by 22.5% to 2,417. LSTAR Chair Dale Marsh commented on the current market conditions, stating, "The real estate market is facing significant challenges due to economic uncertainties and the impact of tariffs. We are hopeful that the new Canadian government will address the uncertainty caused by tariffs. Although interest rates are favourable, buyers are hesitant to enter the market due to the prevailing uncertainty." There are positive aspects to consider. The increase in active listings indicates a growing inventory, which can provide more options for buyers and potentially stabilize prices. Source: London St. Thomas Association of REALTORS®| Market values stated are of the benchmark of London St. Thomas and surrounding region. Individual home market values will 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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