London and St. Thomas realtors claim record sales in April

With all eyes on the real estate markets in Ontario cities, the London and St. Thomas Association of Realtors is trumpeting April as a record month for home sales.

An announcement from LSTAR says 1,220 homes were sold in the month, marking an increase of 14.2 per cent over April of 2016.

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    “This represents the best results ever for April since LSTAR began tracking sales data in 1978,” the association said in a statement.

    The most significant increase was in condominium sales, which went up by more than 25 per cent since last year. The 971 detached home sales signified an uptick of 11.7 per cent over 2016.

    LSTAR’s president, Jim Smith, said this makes a continuation on what’s been a banner year for the organization with every month breaking previous records.

    “After the first four months, we’re about 25 per cent ahead in home sales compared to 2016,” said Smith. “It just shows how desirable the region is, when you consider affordability, accessibility and lifestyle. London and St. Thomas have so many features that make them an attractive destination to live, work, raise families and retire. We’ve got farm-to-table restaurants, London Knights hockey, big-name concerts and culture such as the North American Railway Hall of Fame, and the Grand Theatre.”

    In St. Thomas specifically, the average home price has increased by over nine per cent since March to $270,439 —; well behind the average London price of $347,062.

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