It has been quite the historic year in the London and St Thomas real estate market, especially with the amount of homes that have been sold.
The activity in the final quarter of the year echoes what’s happening nationally; and is expected to continue for the rest of December.
In November there were 637 homes that exchanged hands. However, the sales of homes in London went down by 13.6% from the same time last year. The year-to-date sales of homes are up by 9.1%, with a total of a whopping 10,790 homes being sold in 2017 so far. This is
the highest number of residential sales in the London area since LSTAR (London & St. Thomas Association of REALTORS) began tracking data back in 1978!
In November, the average sales price of a home across London and St. Thomas area was $322,303. This is up from 11.6% from the same time a year ago. The average year-to-date sales price is $330,039, up 18.0% from November 2016.
In the area of London South, the average home sales price was $344,010, up 16.6% compared to a year ago, while in London East, it was $255,518, up 7.9% from November 2016. In London North, average home sales price was $383,147, up 9.9% compared to this time last year, while in St. Thomas it was $260,763, up 19.4% compared to a year ago.