London is no longer a sellers’ market, and buyers seem to be taking full advantage of it.

Home sales in the London area, which also includes St. Thomas, Strathroy and portions of Elgin and Middlesex counties, bounced back somewhat in October, with 607 homes changing hands.

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The uptick – 73 more sales last month compared to September – came alongside a significant drop in home prices for the second straight month, the London and St. Thomas Association of Realtors (LSTAR) reported Tuesday.

After sitting at around $651,000 in August, the average resale price of a home in the region dropped to about $605,500 in October, a loss of about $45,500 in just two months.

Both trends suggest buyers are driving hard bargains, while sellers are having to adjust their expecta

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