London and St. Thomas Association of REALTORS
Real Estate Board — Market Data & Trends
Overview
Board Report
Key Takeaways
June 2026- “The June sales-to-new listings ratio was 41.6%, on par with May which came in at 42.8%,” said Robin Tiller, LSTAR’s 2026 Chair.
- Inventory remained stable, with 4.6 months of inventory recorded in June.
- “According to the Canadian Real Estate Association (CREA), a ratio between 45% and 65% indicates conditions of a balanced market.
Source: London and St. Thomas Association of REALTORS
With 4.6 months of inventory, the market is near equilibrium with a slight tilt toward sellers. Properties sell within a reasonable timeframe, and pricing is competitive but not extreme.
London and St. Thomas Association of REALTORS Narrative
In June, 753 homes changed hands via the Multiple Listing Service® (MLS®) of the London and St. Thomas Association of REALTORS® (LSTAR). That was up 1.6%, compared to June 2025, and on par with June sales over the past four years.
“The June sales-to-new listings ratio was 41.6%, on par with May which came in at 42.8%,” said Robin Tiller, LSTAR’s 2026 Chair. “According to the Canadian Real Estate Association (CREA), a ratio between 45% and 65% indicates conditions of a balanced market. Historically, we’ve seen slower activity during the summer season, but the June data has given us a steady start.”
Average sales price saw some fluctuation last month. It was $606,614, down 6.7% from the same month a year ago. By comparison, the May average sales price was $662,292, while it was $618,665 in April. Inventory remained stable, with 4.6 months of inventory recorded in June.
“With the changing nature of real estate, your local REALTOR® is a great resource if you’re considering buying or selling a home,” Tiller said. “Every home is unique, and they can share their local expertise and help guide you through what’s happening in the marketplace.”
The HPI benchmark price reflects the value of a “typical home” as assigned by buyers in a certain area based on various housing attributes, while the average sales price is calculated by adding all the sale prices for homes sold and dividing that total by the number of homes sold. The HPI benchmark price is helpful to gauge trends over time since averages may fluctuate by changes in the mix of sales activity from one month to the next.
According to a 2025 study1 by Altus Group, the average housing transaction in Ontario generated approximately $124,200 in spin-off spending per transaction, between 2022 to 2024. These include such expenses as legal fees, appraisers, moving costs, new appliances, and home renovation expenses.
“That would translate into more than $93 million being generated into the local economy,” Tiller said. “That impacts activity throughout the entire housing continuum.”
Employment resulting from home sales is also significant, according to the Altus study. Resale housing activity created an estimated 117,610 jobs annually in Ontario from 2022 to 2024. Jobs include manufacturing, construction, skilled trades, finance, and insurance.
1_Economic Benefits Generated by Home Sales and Purchases Over MLS® Systems Across Canada_, Altus Group, 2025.
Market Balance
Months of Inventory
Demand moderately exceeds supply — conditions favor sellers.
At 4.6 months of inventory, the market is balanced. Neither buyers nor sellers have a decisive advantage — a good time for realistic pricing and considered offers.
Source: London and St. Thomas Association of REALTORS via CREA MLS
Period: June 2026
Market statistics are provided for informational purposes only and may not reflect all real estate activity in the market. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA). Past performance does not guarantee future results. Consult a licensed real estate professional for specific advice.