Courtesy of Dwyer Team

JUNE MARKET SHOWS STEADY GROWTH IN HOUSING PRICES

$617,600 all residential DOWN 1.4% year-to-year

Benchmark Price

44.9% SALES TO NEW LISTING RATIO

678 SOLD LISTINGS

1,510 NEW LISTINGS

July 5, 2024, London, ON – July 5, 2024, London, ON – In June 2024, the real estate market in our region saw significant fluctuations in activity, with 678 homes exchanging hands, according to the latest MLS ® statistics of the London St. Thomas Association of REALTORS ® (LSTAR). The MLS ® Home Price Index Benchmark Price for London St. Thomas was $617,600. The number of new listings in June was 1,510. We remain optimistic that the anticipated rate cuts by the Bank of Canada will stimulate the real estate market over the summer months. Central Elgin’s benchmark price was $637,700, while London East saw a benchmark price of $500,400. London North saw their benchmark price come in at $719,500, and Middlesex Centre had the largest benchmark price of the region at $857,400. These figures indicate a dynamic market with varying trends across different areas. LSTAR Chair Kathy Amess commented on these trends, stating, “The market dynamics in our region continue to show resilience and adaptability. The slight increases in benchmark prices across most areas reflect a steady demand for properties.” She also noted, “While some areas have seen fluctuations, the overall market remains strong, providing opportunities for both buyers and sellers.” Statistics reflect market activity in June 2024 | Source: London St. Thomas Association of REALTORS ® | Market values stated are of the benchmark of London St. Thomas. Individual home market values vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

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