News

In May 2023, 1,397 new listings came on the local market and 846 homes exchanged hands via LSTAR's MLS® System. While the number of new listings is 23.9% lower than in May 2022, the number of sales is 1.3% higher than a year ago. LSTAR's overall sales-to-new listings ratio for the entire area stood at 60.6% last month, while inventory continued to decline, dwindling from 1.8 months in April to a mere 1.7 months in May.

In April 2023, 964 new properties came on the market and 723 homes exchanged hands via the MLS® System of LSTAR. The overall sales-to-new listings ratio for the entire London-St. Thomas area climbed from 63.5% in March to 75% in April, while the inventory plunged from 2 months in March to only 1.8 in April.

In March 2023, only 1,079 new residential listings were posted on the MLS® System of LSTAR, making last month the March with the third lowest number of new listings in the last decade. Home sales for the month stood at 685, the lowest seen by LSTAR in March since 2014, and inventory fell to only 2 months. 

In February 2023, the MLS® System of LSTAR recorded only 436 residential transactions, thus marking the lowest number of February home sales seen by LSTAR since 1995. Despite the sluggish sales, 761 new listings entered the market during the same time frame, bringing the number of active listings to 1,320 by month-end. The overall sales-to-new listings ratio for the entire jurisdiction of LSTAR was 57.3%.

LSTAR is thrilled to announce the recipients of the 2021 Don Smith Commercial Building Awards. Recipients were honoured on February 22, 2023 at the Best Western Plus Lamplighter Inn and Conference Centre.

In January 2023, only 344 residential transactions were recorded via LSTAR’s MLS® System. This makes last month the January with the lowest number of home sales seen by LSTAR since 2009. During the same period, 823 new listings came on the market, bringing the number of active listings at month’s end to 1,261.

The LSTAR Board of Directors is pleased to announce that Adam Miller will serve as its President in 2023. Based in St. Thomas, Miller is a Broker/Manager with Royal LePage Triland Realty. He became a REALTOR® in 2004 and joined the LSTAR Board of Directors in 2017.

LSTAR is excited to present the LSTAR 2021 Don Smith Commercial Building Awards ceremony, on Wednesday, February 22, 2023, at the Best Western Plus Lamplighter Inn & Conference Centre in London.

299 residential properties exchanged hands last month in the jurisdiction of the London and St. Thomas Association of REALTORS® (LSTAR), bringing the total number of homes sold through the Association’s Multiple Listing Service® (MLS®) System in 2022 to 7,639.