The southwestern Ontario market of London-St Thomas reported strong sales in August.

Although the year-over-year detached home sales figure was down 11.4% to 712 and condo sales fell 7.7% to 180, last year was a record-breaker.

"If you look at the historical data, last month turns out to be the best August for our members since 2005," said Jim Smith, 2017 LSTAR President.

Listings were down 9.3% from August 2016 while the average sales price across London and St. Thomas was $326,122, down 1.4% from the previous month.

However, the average year-to-date sales price was $329,745 - up 18.2% from the 2016 average home price of $279,057.

"Overall, 2017 remains an incredible year for real estate across London and St. Thomas and we expect sales activity to stay fairly strong for the remainder of 2017."

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

More market watch: