London St. Thomas region had best September ever

Home sales in London and St. Thomas reached their highest September level since at least 1978, the year the region’s real estate agents association began tracking sales.

There were 866 home sales – 716 detached and 150 condos – in September, a rise of 3.1 per cent compared to a year earlier. It was the fourth record-breaking month of 2016 along with April, June and August.

Listings were down 15.5 per cent while inventory slumped by more than a third and London St. Thomas Association of Realtor’s president Stacey Evoy says that the fall is a great time for sellers to enter the market as demand remains high.

She also highlighted the contribution that the real estate industry makes to Southwestern Ontario: “September home sales in LSTAR's jurisdiction spun approximately $45,898,000 into our local economy and created approximately 288 jobs.”

Year-to-date home prices averaged $278,311, up 5.8 per cent compared to the same period of 2015.
 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release

Poll

Should government update pot rules to prohibit growing in rentals?