Tuesday, September 15, 2020
For Comment: Blair Campbell, 519-963-2299
For Background: Bill Madder, 519-641-1400
London, ON – The London and St. Thomas Association of REALTORS® (LSTAR) announced 931 homes exchanged hands in August, making it the second best August for sales since the Association began tracking data in 1978.
“August capped off a very strong summer for home sales in the region,” said 2020 LSTAR President Blair Campbell. “For the first time, the average home sales price was over $500,000. It’s a testament to the pent-up demand caused during the COVID-19 lockdown months.”
The average home sales price was $501,584 in August, up 22% over August 2019 and up more than 55% compared to the same time just three years ago.
“It’s important to note the average sales price encompasses all housing types across the entire LSTAR jurisdiction, from single detached homes to high-rise apartment condominiums,” Campbell said. “When you look at the five major areas, each one saw healthy gains.”
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