Buying or Selling in London, Ontario's 2026 Market

Headlines make it hard to know whether now is a good time to buy or sell. The better question is what the local numbers say and how they affect your position. Here is what the London and St. Thomas Association of REALTORS® (LSTAR) reported for September 2026.

The numbers

• Sales: 561, compared with 526 in August and up 5.3% from September 2025.
• Composite benchmark price: $552,500, down 0.2% from August and 1.5% below June. Single-family benchmark: $600,700.
• Average price: $611,509 (August: $590,550).
• Sales-to-new-listings ratio: 34.7%.
• Months of inventory: 5.9. In August it was 6.3, which LSTAR noted as a new peak.
• LSTAR’s chair said the market continued to show signs of a buyers’ market.

For the year as a whole, 2025 finished with 6,938 sales, down 5.0% from 8,088 in 2024.

A note on what these numbers are: benchmark prices describe a typical home, while average prices swing with the mix of homes that sold in a given month. Neither is a value for your specific home. Read more in our September 2026 market summary.

What it means for buyers

Roughly six months of inventory means there are plenty of homes to compare. For buyers that tends to mean:

• Time to decide. You can see several homes and compare instead of rushing.
• Room to negotiate. Price is still the main lever, but ask your agent what recent comparable sales and listing histories show before assuming a discount.
• Ask about conditions. Conditions and deadlines are set in the Agreement of Purchase and Sale, so ask your lawyer and agent how they would work in yours.
• Be ready. Well-priced, well-presented homes still draw interest. Get a mortgage pre-approval first.

Keep costs in the picture too. Ontario land transfer tax on a $400,000 home is $4,475, and eligible first-time buyers can claim a refund of up to $4,000. Minimum down payment is 5% on the first $500,000 and 10% on the portion up to $1.5 million. Our buying guide lays out the steps.

What it means for sellers

When inventory is higher, buyers are choosier. For sellers that tends to mean:

• Price accurately from the start. An overpriced listing can sit and then need cuts anyway. Start with a home valuation.
• Presentation matters more. Photography, cleanliness and small repairs separate your home from the others. See what adds the most value when selling.
• Be realistic about timing. If you also need to buy, line up the two moves carefully.
• Do not panic. Sales were up from a year ago, so buyers are active.

Which side are you on?

If you are doing both, your sale price and your purchase price usually move in the same market, which reduces some of the risk. If you only buy, the current conditions favour taking your time and doing your homework. If you only sell, preparation and pricing decide the outcome.

Neighbouring markets

LSTAR also reports on St. Thomas and surrounding municipalities. In August 2026, benchmark prices were $499,700 in St. Thomas, $757,300 in Middlesex Centre, $717,800 in Strathroy-Caradoc and $629,500 in Central Elgin. See our St. Thomas community page and London community page for more.

A practical next step

Write down your time frame, your budget and what you cannot compromise on, then compare it against what actually sold nearby. If you would like help with that comparison, get in touch.