London and St. Thomas Association of REALTORS® (LSTAR) announced 603 homes* were sold in February, up 5.6% over February 2018. The number of home resales was right on par with the 10-year average. Two months into 2019, there have been 1,128 home resales, up 10.8% compared to the same time last year.
Across the five major areas of LSTAR's region, average home sales price continued to make healthy gains. The largest year-over-year gain was in Elgin County, with a February average sales price of $360,800, up 33% compared to February 2018. Meanwhile, in London, the February average sales price was $405,186, up 13.5% from the same month last year. The average sales price for the entire LSTAR jurisdiction was $393,911, up 12.5% compared to February 2018.