LSTAR is thrilled to announce the recipients of the 2023 Don Smith Commercial Building Awards. Recipients were honoured on February 22, 2024, at the Best Western Plus Lamplighter Inn and Conference Centre. Main categories include Commercial, Industrial, Multi-family and Institutional. A judging panel evaluates the projects, based on multiple criteria.
439 residential transactions were recorded last month via LSTAR's MLS® System, 28.7% more than in January 2023. The number of newly listed properties climbed from 386 in December 2023 to 873 in January 2024. Housing supply dropped from 4.4 months of inventory in December to only 3.3 months in January.
Please join LSTAR on Thursday, February 22nd for a special evening honouring excellence in commercial buildings. The 2023 Don Smith Commercial Building Awards shines a spotlight on the best commercial, industrial, legacy, multi-family, and community buildings across the LSTAR region. Tickets are available by emailing Claire Dawson via Claire [at] LSTAR.ca (Claire[at]LSTAR[dot]ca) no later than Friday, February 9th, at 4:30 pm.
LSTAR's Board of Directors is pleased to announce that Kathy Amess will serve as its Chair in 2024. Based in London, Amess is a Broker of Record/Owner of Blue Forest Realty Inc. She became a REALTOR® in 1993 and joined the LSTAR Board of Directors in 2020.
Last month 335 homes exchanged hands via LSTAR's MLS® System, bringing the total number of residential properties sold in 2023 in our area to 6,717. The number of newly listed properties dropped from 928 in November to 386 in December. Despite the significant monthly decline, this number is still in line with LSTAR’s ten-year average for new listings for the month of December.
421 homes were sold last month via LSTAR's MLS® System, 8.9% less than in November 2022. The number of newly listed properties declined from 1,232 in October to 928 in November. Despite the significant monthly drop, this number still represents a record high for new listings for the month of November.
On Tuesday, the federal government tabled the 2023 Fall Economic Statement, which focuses on measures aimed at enhancing existing housing programs through various new programs, including a long-term REALTOR® position to not require insured mortgage holders to requalify under the insured minimum qualifying rate when switching lenders at mortgage renewal. This is a strong step forward towards restoring housing affordability for Canadians.
488 homes exchanged hands in October 2023 via LSTAR's MLS® System, 2.45% more than during the previous month, but 0.5% less than a year ago. The number of new listings climbed to 1,232, which marks a record high for the month of October. Housing supply stayed virtually unchanged from last month, decreasing only very slightly from 4.4 months in September to 4.3 months in October.
November 3, 2023
We would like to acknowledge the Indigenous Peoples in whose traditional territory we work and live: the Anishinabek; the Haudenosaunee; and the Lunaapeew. The three distinct First Nations communities within the Middlesex-London area are: Chippewas of the Thames First Nation; Oneida Nation of the Thames; and Munsee-Delaware Nation. We acknowledge the many longstanding treaty relationships between Indigenous Nations and Canada – including the London Township Purchase of 1796 between the Anishinabek and the Crown. This territory is now home to many First Nations, Metis, and Inuit peoples. Each of us must honour these relationships, and we all have a responsibility to reconcile.