The latest housing numbers are in from the London and St. Thomas Association of Realtors.
LSTAR reports 816 homes exchanged hands in the region, bringing the year-to-date total of residential transactions to 10,445 and marking their 2nd best results ever for November, since data tracking began back in 1978.
“This year-to-date figure is very close to the total number of home sales recorded at the end of 2017, which was the year with the highest sales activity in the history of LSTAR,” said 2021 LSTAR President Jack Lane.
The number of active listings at month end continued to decrease. There were only 379 active listings at the end of November in LSTAR’s jurisdiction and only half a month of inventory.
“This value represents a new record low for our region’s inventory and means that, at the current sales pace, the entire housing inventory of LSTAR could be liquidated in only two weeks,” Lane emphasized.
In St. Thomas, the average sale price for a home in November 2021 was $609,722 and $725,596 in Central Elgin.
This, compared to October, where the average sale price for a home in St. Thomas was $593,517 and $823,556 in Central Elgin.
