The latest housing numbers are in from the London and St. Thomas Association of Realtors. After two consecutive months of sharp declines caused by the COVID-19 pandemic, local home sales saw a strong rebound in June.
In fact, last month was the second best June for home sales since LSTAR began tracking data, back in 1978.
St. Thomas and Elgin County also recorded their second best June, with 97 and 77 home sales respectively.
In St. Thomas, the average sale price for a home in June 2020 was $382,862, up 8.5% from 2019. In Elgin County the average sale price for a home in June 2020 was $445,220, up 32.6% from 2019.
Overall, the number of listings in the LSTAR region increased in June to 1,513, up 3.4% over June 2019, but the months of inventory – the number of active listings at month end – decreased to 1.3, its lowest value in the last ten years.
