March 2025 LSTAR Statistics

New listings decreased by 11.0%, while active listings increased by 21.1%, indicating a growing inventory. The average price of homes in the region decreased slightly by 0.6% to $643,159. The sale to list price ratio remained close to previous years indicating sellers are still achieving near their asking prices.

LSTAR Chair Dale Marsh remarked, "The Canadian real estate market is facing a challenging environment due to various factors, such as U.S. tariffs and broader economic uncertainties. These uncertainties have clearly impacted consumer confidence, leading to the volatility we're observing." Despite interest rates being at acceptable levels, buyers are hesitant to make significant purchases, opting to wait and see how tariffs might affect their employment.

However, there are positive aspects to consider. The current market conditions may present opportunities for buyers who are prepared to act. With fewer buyers actively purchasing, there could be less competition for available properties, potentially leading to better deals. Additionally, some experts believe that once the economic uncertainties stabilize, the market could see a resurgence, making it a good time for buyers to plan and prepare for future investments.
Overall, while the market is challenging, it also offers unique opportunities for those who are strategic and patient.

For more information: https://www.lstar.ca/story/lstar-reports-march-sales-drop-amid-uncertainties

Information provide from: LONDON AND ST. THOMAS ASSOCIATION OF REALTORS®