October was a record setting month for housing sales in the London and St. Thomas area. The London St. Thomas Association of Realtors reports that 928 homes were sold in their region last month which is the highest number of October sales ever on record. St. Thomas saw 86 homes sold last month, an increase of 32% from the same time last year.
The average sale price was also up just under 11% last month at $349,895.
LSTAR President Earl Taylor says that the increase in St. Thomas is because their month of inventory is at less than 1%
Taylor says that Elgin County’s increase in homes sold and sale price are because the low housing availability in London is forcing home buyers to look out into the County.
Overall the average sale price in the LSTAR region was $412,883.
