London, Ontario Housing Market: Latest Prices, Sales and Inventory

This page is our standing summary of the London, Ontario housing market. It collects the most recent figures from the London and St. Thomas Association of REALTORS® (LSTAR), explains what each measure means, and links to our monthly reports. Every number here comes from LSTAR or the Canadian Real Estate Association (CREA) and carries its date. We do not make predictions of our own.

Latest data: September 2026, from the LSTAR release published in early October 2026.

The London market at a glance

Measure	September 2026
Home sales	561 (August: 526)
Sales vs September 2025	+5.3%
Composite benchmark price	$552,500 (August: $553,500)
Single-family benchmark price	$600,700
Average sale price	$611,509 (August: $590,550)
Sales-to-new-listings ratio	34.7% (August: 37.5%)
Months of inventory	5.9 (August: 6.3)

These figures cover LSTAR’s whole jurisdiction, which takes in London, St. Thomas, Strathroy-Caradoc, Middlesex Centre and Central Elgin among other areas, not just the City of London.

How is the real estate market in London, Ontario?

In short: sales are a little higher than a year ago, prices are roughly flat to slightly lower over the past few months, and buyers have more choice than sellers would like.

• Sales picked up. The 561 sales in September 2026 were 5.3% above September 2025 and above August’s 526.
• Benchmark prices drifted lower. The composite benchmark of $552,500 was down 0.2% from August and 1.5% from June. The single-family benchmark of $600,700 was down 0.2% from August and 2.1% from June.
• Supply is high. Inventory stood at 5.9 months, down from 6.3 months in August, which LSTAR called a new peak.
• The ratio favours buyers. The sales-to-new-listings ratio was 34.7% in September, after 37.5% in August and 44.5% in July.

LSTAR’s 2026 chair, Robin Tiller, said the marketplace “continued to show signs of a buyers’ market.” Our September 2026 market report covers the month in more detail.

What is the average home price in London, Ontario?

There are two honest answers, because there are two common measures.

• The average sale price across LSTAR’s region was $611,509 in September 2026, up from $590,550 in August. For the area LSTAR labels London, the average was $591,927.
• The composite benchmark price was $552,500.

Averages vary a good deal by area. LSTAR’s September 2026 table:

Area	MLS® HPI benchmark	Average price
London East	$432,300	$456,814
London South	$550,400	$608,872
London North	$613,000	$704,858
St. Thomas	$496,800	$544,865
Strathroy-Caradoc	$729,500	$669,705
Middlesex Centre	$756,300	$850,213
Central Elgin	$623,100	$748,264
LSTAR overall	$552,500	$611,509

By property type, September 2026 benchmarks were $541,300 for a one-storey home, $648,100 for a two-storey home, $421,500 for a townhouse and $317,100 for an apartment.

A caution on the smaller areas: with fewer sales, one month’s average can swing widely. Middlesex Centre’s average was $942,491 in August and $850,213 in September, while its benchmark moved only from $757,300 to $756,300. That is a change in which homes sold, not a drop in what a given home is worth.

What the measures mean

Benchmark price vs average price

LSTAR explains the difference this way. The average sale price is every sale price added together and divided by the number of homes sold. The MLS® HPI benchmark price reflects the value of a “typical home” in an area, based on housing attributes such as its type and features. Because the average shifts with the mix of homes that happen to sell in a month, LSTAR says the benchmark is the more helpful gauge of trends over time.

How to use them: look at the benchmark to see where prices are heading, and treat the average as a snapshot of what actually changed hands. Neither one is the value of your home. That depends on recent sales of comparable properties near you, which is what a home valuation is built from.

Sales-to-new-listings ratio

This is the number of sales in a period divided by the number of new listings, shown as a percentage. It measures how quickly new supply is being absorbed. LSTAR cites CREA’s guideline that a ratio between 45% and 65% indicates a balanced market. Below that range, conditions lean toward buyers. Above it, they lean toward sellers.

The ratio can move quickly. LSTAR reported 71.6% in December 2025, the highest reading of that year, and 34.7% nine months later. One month is a signal, not a trend.

Months of inventory

Months of inventory is how long it would take to sell the homes currently listed at the current pace of sales. A higher number means more choice for buyers and more competition for sellers.

For context, CREA’s national releases put the long-term national average at about five months and, using one standard deviation either side of that average, describe a seller’s market as below 3.6 months and a buyer’s market as above 6.4 months. Those are national yardsticks rather than London thresholds, and local norms differ. London’s 5.9 months in September 2026 compares with 5.4 months in December 2025 and 4.6 months in December 2024, according to LSTAR.

Reading the three together

No single measure settles the question. A practical way to read a monthly release:

1. Check sales against the same month a year earlier, not against the previous month, because activity is seasonal. LSTAR itself noted that summer is historically slower.
2. Check the benchmark over three months rather than one. September’s composite was down 0.2% on the month but 1.5% since June, which says more about direction.
3. Check inventory and the ratio to see who has the stronger hand in negotiations today.
4. Then narrow to your own area and property type, where the answer can differ from the regional picture. A townhouse benchmark that fell 2.1% in a month and a one-storey benchmark that rose 0.2%, both in September 2026, are in the same market.

The longer view

LSTAR’s year-end release for 2025 gives the annual context:

• 6,938 homes sold in 2025, down 5.0% from 2024.
• December 2025 had 398 sales, up 0.8% from a year earlier, which LSTAR called the best December since 2021.
• The December 2025 average price was $614,104, down 3.4% from December 2024, and the composite benchmark was $552,800.

Set against September 2026, the composite benchmark has barely moved in nine months ($552,800 in December 2025, $552,500 in September 2026), while inventory has risen from 5.4 to 5.9 months. Prices have been steady and supply has grown.

What about forecasts?

We do not forecast London prices, and you should be cautious of anyone who does so with confidence. Local forecasts depend on interest rates, employment and migration, none of which are knowable in advance.

For a published national view, CREA’s quarterly forecast dated July 15, 2026 projected:

• national home sales of 463,336 in 2026, down 1.4% from 2025, and 480,567 in 2027, up 3.7%
• a national average price of $686,710 in 2026 and $694,164 in 2027, an increase of 1.1% in each year

CREA also said Ontario was the only province forecast to see sales rise in 2026. These are national and provincial projections, not London figures. CREA’s next update is scheduled for October 16, 2026, so check CREA’s forecast page for the current version.

What this means if you are buying

• You have choice. With 5.9 months of inventory, there is usually time to see several homes and to include conditions such as financing and inspection in an offer.
• Benchmarks by type help set expectations: $421,500 for a townhouse and $600,700 for a single-family home in September 2026.
• A buyers’ market in general is not a buyers’ market for every home. Well-priced, well-presented homes in popular areas still attract competition.

Our guide to buying a house in London covers the process and costs, and the buyer page explains how we help.

What this means if you are selling

• Pricing has to follow recent comparable sales. With a ratio of 34.7%, many new listings are not selling in the month they are listed.
• Presentation matters more when buyers can compare. See our preparation checklist.
• Sales are still happening: 561 in September, more than a year earlier.

Read our guide to selling a house in London, see why sellers list with us, or start with a home valuation. For strategy in the current conditions, see buying or selling in London’s 2026 market.

Market reports and local guides

• London housing market report: September 2026
• St. Thomas real estate market guide
• Strathroy-Caradoc and Middlesex Centre compared
• Community pages: London, St. Thomas, Strathroy, Komoka, Ilderton, Port Stanley
• Building new? See new home construction.

About these numbers

LSTAR publishes its statistics monthly, usually at the start of the following month. The figures describe sales through LSTAR’s MLS® System, so a sale that never went through that system is not counted. LSTAR’s releases do not give an active listing count or average days on market, so we do not quote either. If you want numbers for a specific neighbourhood or property type, contact us and we will pull them for you.

This page is general information and not financial advice.