The real estate market in February 2025 reflected both stability and challenges. Sales activity declined by 20.1% compared to February 2024, with 353 properties sold. Despite this drop, total sales volume reached $249,279,351, an 18.2% decrease from the previous year. New listings in the London area including Strathroy-Caradoc and St. Thomas fell by 8.0%, totaling 743, while active listings rose 19.0% to 1,558, providing buyers with more options. The sales-to-new-listings ratio stood at 47.5, indicating a balanced market.
The average price of single-family detached homes reached $706,174, reflecting a 2.4% increase from February 2024. In Strathroy-Caradoc, homes in February sold for an average price of $742,021.
Written by: C. Soares