LOCAL HOME SALES HIT RECORD NUMBERS IN 2017 1/8/2018 12:10:37 PM
St. Thomas finished 2017 with 901 total homes sold. That is up almost 7% (6.8%) from 2016. In the London and St. Thomas area 11,203 homes were sold, which is the highest number of homes sold since the London St. Thomas Association of Realtors (LSTAR) began keeping stats back in 1978.
The increased activity in the London and St. Thomas area can be attributed in part to the affordability of the housing market as homes are selling for almost half the cost of a home in Toronto.
LSTAR President Jim Smith says that St. Thomas is appealing to some people coming from the Toronto area.
Smith says that the consistent trend throughout the year was a high demand for homes with a low supply. This could be seen in the numbers are the listings were down just over 1% (1.2%) from last year with 14,301 listings.
Smith does not see the market slowing down in 2018 and says that it is still a very good time to sell your home.