News

A majority of residents across Western Ontario believe the region has good access to daily activities and is an excellent environment for raising a family, but at the same time express concerns over housing and economic stability, affirming the challenges of inflation, cost of living, and affordability, according to a new report by Abacus Data.

594 homes exchanged hands last month via LSTAR's MLS® System, marking a 33.2% increase in sales activity over February 2023. The number of newly listed properties rose from 873 in January to 1,024 in February, showing a 31.8% increase over a year ago. Housing supply plummeted from 3.3 months of inventory in January to 2.7 months in February.

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.

LSTAR is pleased to announce that we are joining the PropTx MLS® Service, a move that will empower LSTAR Members with enhanced tools and expanded access to invaluable real estate market data.