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September Market Update

September Market Update

TAGS: SEPTEMBER, MARKET UPDATE, APPRECIATION, HOME PRICES

 

According to latest market report published by London and St. Thomas Association of Realtors – September achieved a reocrd for residential sales.  960 homes were sold in September, which is a 25% increase from last year marking the highest figure since 1978

The following table shows last month’s average home prices by area and how they compare to the values recorded at the end of September 2019.

AreaSeptember 2020 Average Sale PriceChange over September 2019
Elgin County$498,098↑ 17.6%
London$527,414↑ 30.1%
Middlesex County$575,785↑ 18.1% 
St. Thomas$433,504↑ 26.7%
Strathroy$526,614↑ 14.0%
LSTAR$521,883↑ 28.0% 

Looking at London North – this area of London averaged a sales price of around $613,755 an increase of 28.3% compared to September 2019 – being the first time London North home prices have surpassed the $600,000 mark.  South London home prices increase to $535,566 – which is an increase of 28% comapred to last Spetember.

The average sales price in St. Thomas was $433,504, an increase of 26.7% from 2019 and 102% increase since September 2015.

The London and area market continues to be hot – reach out to find your home value!

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