The latest housing numbers are in from the London and St. Thomas Association of Realtors who saw home prices rise in March.
LSTAR notes that 636 homes exchanged hands across the region- 11.3% less than in March 2023.
The number of newly listed properties surged from 1,024 in February to 1,233 in March, marking an 11.8% increase over a year ago.
Overall, housing supply increased slightly in our region from 2.7 months of inventory in February to 2.9 months in March.
“LSTAR’s sales-to-new listings ratio sat at 51.6% last month, indicating a highly balanced real estate market,” noted 2024 LSTAR Chair Kathy Amess.
Last month’s overall average home price sat at $646,155, compared to $617,790 in February
In St. Thomas, the average sale price for a home in March 2024 was $572,837 and $601,592 in Elgin County.
Written by: K. Freeman
