Record Breaking Month for LSTAR Home Sales

This past July, 1,043 homes were sold in the LSTAR region, 5.4% more than July 2018, making it the best July on record since the association’s formation.

Looking at last month’s home sales in the five main regions of LSTAR, it’s worth to note that Middlesex County saw its best July in the last decade, with 99 units sold. Moreover, during this same period, 678 homes were sold in London, which marks the second best July ever for residential sales in this city.” – Earl Taylor, LSTAR President

In total, the amount of new listings in the LSTAR region increased to 1,415, 13% more than a year ago, demonstrating significant growth. And after analyzing the sales-to-new-listings ratios, the majority of the region seems to be leaning in the direction of a seller’s market, with the exception of Middlesex County, which currently sits somewhere in between.

Below is the average home price of areas within LSTAR’s jurisdiction:

Area

July Average Sale Price

Elgin County

$354,758

London

$414,684

Middlesex County

$477,616

St. Thomas

$322,868

Strathroy

$378,752

LSTAR

$404,950.00

This record breaking growth is very healthy for the market, and should hopefully continue to break records as the year progresses.