London and St. Thomas Association of REALTORS
Market Data & Trends
Overview
London and St. Thomas Association of REALTORS published a composite benchmark price of $557,000 in July 2026, down 4.0% year over year and down 0.7% on the month.
Across the 3 months with a published benchmark — May 2026 to July 2026 — the benchmark fell 2.3%, from $570,000 to $557,000.
The high over that window was $570,000 in May 2026; the benchmark now sits 2.3% below it.
Published benchmarks were $606,800 for detached homes in July 2026, $428,400 for townhouses in July 2026 and $330,000 for apartments in July 2026.
The segments have not moved together: townhouses lost 2.4%, detached homes lost 2.7% and apartments lost 3.5% over the window — a spread of 1.1 percentage points between townhouses and apartments.
Months of supply stood at 5.9 in September 2026.
These are figures published by London and St. Thomas Association of REALTORS. The comparisons above — the change over the window, the distance from the high and the spread between property types — are arithmetic compiled by this publication from 5 monthly releases, May 2026 through September 2026.
Months of supply is active listings divided by that month's sales; where a release does not print it, this publication calculated it from the release's own counts.
Board Report
Key Takeaways
September 2026- In London North, the September average sales price was $704,858, up from the previous month, which was $668,345.” The September sales-to-new listings ratio was 34.7%, down from August, which came in at 37.5%.
- “With interest rates holding steady and 5.9 months of inventory, it may be an opportune time for those looking to enter the market.
- 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
London and St. Thomas Association of REALTORS Narrative
In September, 561 homes changed hands via the Multiple Listing Service® (MLS®) of the London and St. Thomas Association of REALTORS® (LSTAR), up 5.3% compared to September 2025 and up from the previous month, which recorded 526 sales.
“The average sales price saw a jump to $611,509, from $590,550 recorded in August,” said Robin Tiller, LSTAR’s 2026 Chair. “Notably, London South and London North experienced the biggest gains in average sales price, month over month. In London South, the September average sales price was $608,872, up from the August average sales price of $567,783. In London North, the September average sales price was $704,858, up from the previous month, which was $668,345.”
The September sales-to-new listings ratio was 34.7%, down from August, which came in at 37.5%. According to the Canadian Real Estate Association (CREA), a ratio between 45% and 65% indicates conditions of a balanced market.
“The marketplace continued to show signs of a buyers’ market,” Tiller said. “With interest rates holding steady and 5.9 months of inventory, it may be an opportune time for those looking to enter the market. Your local REALTOR® is the best resource to help you navigate through the marketplace with real-time data and professional expertise.”
According to a 2025 study 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 means the home sales in September potentially generated more than $69 million into the local economy,” Tiller said. “We cannot stress how important the business of real estate is as an economic engine to the region, and we’ll continue to advocate for policy solutions that create paths to home ownership for more and more Canadians.”
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.
Market Balance
Months of supply is active listings divided by that month's sales; where a release does not print it, this publication calculated it from the release's own counts.
Monthly sales divided by that month's new listings.
Source: London and St. Thomas Association of REALTORS via CREA MLS
Period: September 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.