The London and St. Thomas Association of REALTORS® (LSTAR) has released its residential market update for May 2025, illustrating a housing market adjusting to shifting economic conditions, including the ongoing effects of U.S. trade tariffs.
A total of 722 homes were sold in May—marking a 15.4% decrease compared to the same month last year. Despite the slowdown in sales, new listings surged by 15.3% year-over-year to 1,999, while active listings rose even more sharply, up 26.5% to 3,253.
The average home price in the LSTAR region reached $656,432 in May, reflecting a modest 1.4% increase from May 2024. Market supply also grew, with 4.5 months of inventory available, further supporting stabilization in the region.
In Strathroy-Caradoc, the average sale price for a home in May stood at $679,453, slightly above the regional average, underscoring continued demand in that area despite broader market fluctuations.
From Steve Young at LSTAR
The residential market in Strathroy Caradoc experienced a 14.9% decrease in sales activity compared to May 2024, with 40 homes sold. Despite this decline, new listings saw a significant increase of 35.8%, indicating a higher level of seller interest.
Active listings also rose by 43.9%, reflecting a greater availability of homes on the market. The average price of homes increased by 4.7%, while the median price saw a modest rise of 2.8%. The sale to list price ratio remained stable at 97.9%, suggesting that homes were selling close to their listed prices.
The dollar volume of sales was $27,178,118, showing a 10.9% decrease from the previous year. Overall, the market showed signs of increased inventory and stable pricing, despite the drop in sales activity.
Written by: (S. Young/C. Soares)