The latest housing numbers are in from the London and St. Thomas Association of Realtors who saw more signs of stabilization in April.
LSTAR notes that 710 homes exchanged hands across the region last month- a slight decrease of 2.9% compared to the same month a year ago.
“More new listings came on the market in April, which continues to show a marketplace with some balance between buyers and sellers,” said 2024 LSTAR Chair Kathy Amess. “We saw 1,425 new listings, up 43.8% over the previous year, with an overall sales-to-new listing ratio of 52%. According to the Canadian Real Estate Association, a ratio between 40% and 60% is generally consistent with a balanced market.”
Last month’s overall average home price sat at $656,037, compared to $646,155 in March.
In St. Thomas, the average sale price for a home in April 2024 was $577,149 and $659,752 in Elgin County.
This compared to March where the average sale price for a home in St. Thomas was $572,837 and $601,592 in Elgin County.
Written by: K. Freeman
