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If you were looking to buy a house in London last month, you’re likely still looking.

But if you were one of the few lucky ones who did purchase a home in April, you likely paid top dollar.

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That’s because the average sale price for a home in London and St. Thomas hit a record high of $421,375 in April. That’s 14.8 per cent over the average price in April 2018, according to a report from the London St. Thomas Association of Realtors.

The competition among rival buyers for the few homes on the market remains intense, says the head of LSTAR, Earl Taylor.

“Multiple offer situations are happening all the time,” he said. “Many (bidders) are losing out multiple times.”

A total of 1,055 homes were sold in April, up 7.7 per cent over April 2018 — which doesn’t mean the supply picture is necessarily any rosier.

The lack of inventory that has hindered potential buyers for the last couple years persisted in April. There are simply way more buyers than sellers.