LSTAR sets March record with 1,296 home sales and average selling price over $634,000
The local real estate market continues to hit record highs, with the London and St. Thomas Association of Realtors moving 1,296 homes in March.
That's an increase of more than 56 per cent compared to this time in 2020.
“We’ve experienced a very robust start to the first quarter of 2021, with the seventh consecutive month of record sales,” said LSTAR 2021 President Jack Lane in a news release.
“Three months into the year, there have been 2,671 sales, up more than 30 per cent over the same period last year.”
Officials say low supply and high demand continue to drive the average sales price of $634,799 across the region.
March 2021 LSTAR figures
The March MLS Home Price Index (HPI) reflects the value of a “typical home” as assigned by buyers based on various attributes. Average sales price is done by adding all the sale prices for homes sold and dividing that total by the number of homes sold.