The Third Best Year in LSTAR History

2019 ended not only as a strong year for London – St. Thomas real estate, but as one of the strongest years ever recorded in LSTAR’s history since it began recording its performance back
in 1978.

469 homes traded hands within LSTAR’s jurisdiction in December, which brought the total number of 2019 residential transactions to 10,125, up 3.4% from 2018. This is only the third year in
LSTAR history where yearly sales have passed 10,000 units. The first time it happened was in 2016, and the second was in 2017, a year with more than 11,000 home transactions.

“For the local realtors, 2019 started strong and continued on the same note, with three monthly records in July, October and November,” said 2019 LSTAR President Earl Taylor.

The sales-to-new-listings ratio also jumped up to a significant 110.1% toward the end of the year, indicating a stronger market for sellers.

Overall, the average home price for December was $426,539, up a whopping 15.1% since December 2018, with all 3 of London’s geographic areas showing an increase.

Area November Average Sale Price
Elgin County $387,897
London $436,166
Middlesex County $465,604
St. Thomas $393,972
Strathroy $350,298
LSTAR $426,539