The latest housing numbers are in from the London and St. Thomas Association of Realtors and July was a record setting month.
LSTAR home sales set a new record in July, with 1,275 homes exchanging hands throughout the month in the Association’s jurisdiction.
In St. Thomas, the average sale price for a home in July 2020 was $394,093 , up 20.1% from 2019. 2020 LSTAR President Blair Campbell says “It’s worth to note that, in St. Thomas, the sales-to-new listings ratio hit an unprecedented value in July – 101.2%, while the inventory saw even lower levels than in London, sitting currently at half a month.”
In Elgin County the average sale price for a home in July 2020 was 425,412 , up 26.8% from 2019.
Overall, the number of listings in the LSTAR region sat at 1,408 last month, on par with the 10-year average, but the inventory decreased to 1.1 months – its lowest value in the last decade.
