London and St. Thomas Association of REALTORS
Real Estate Board — Market Data & Trends
Overview
The composite benchmark price for London and St. Thomas Association of REALTORS was $561,100 in July 2026.
Across the 2 months with a published benchmark — May 2026 to June 2026 — the benchmark fell 1.6%, from $570,000 to $561,100.
The high over that window was $570,000 in May 2026; the benchmark now sits 1.6% below it.
The segments have not moved together: townhouses lost 1.4%, detached homes lost 1.6% and apartments lost 5.2% over the window — a spread of 3.9 percentage points between townhouses and apartments.
As of July 2026 the benchmark stands at $613,800 for detached homes, $432,900 for townhouses and $324,100 for apartments.
Inventory stands at 4.9 months of supply, which the board's own thresholds classify as a balanced market.
These are figures published by London and St. Thomas Association of REALTORS. The period-over-period comparisons above — the change over the window, the high and the low and the spread between property types — are arithmetic compiled by this publication from 3 monthly releases, May 2026 through July 2026.
Board Report
Key Takeaways
July 2026- July saw 4.9 months of inventory, with 3,367 active listings across the LSTAR region.” The July sales-to-new listings ratio was 44.5%, up from June which came in at 41.6%.
- “According to the Canadian Real Estate Association (CREA), a ratio between 45% and 65% indicates conditions of a balanced market,” Tiller said.
- “Average sales price was $603,006, on par with June, which was $606,614.” 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.
- “With July home sales, we’re talking about generating potentially more than $85 million back into the local economy.” Employment resulting from home sales is also significant, according to the Altus study.
Source: London and St. Thomas Association of REALTORS
With 4.9 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 July, 686 homes changed hands via the Multiple Listing Service® (MLS®) of the London and St. Thomas Association of REALTORS® (LSTAR). Although down 4.9% from July 2025, the sales activity is on par with activity recorded in the past four years.
“The marketplace is starting to see a little more certainty around interest rates, with the Bank of Canada maintaining its policy rate at 2.25% last month, which has remained the same since last October,” said Robin Tiller, LSTAR’s 2026 Chair. “With historically high inventory, it’s setting the stage for a busier fall market. July saw 4.9 months of inventory, with 3,367 active listings across the LSTAR region.”
The July sales-to-new listings ratio was 44.5%, up from June which came in at 41.6%.
“According to the Canadian Real Estate Association (CREA), a ratio between 45% and 65% indicates conditions of a balanced market,” Tiller said. “Average sales price was $603,006, on par with June, which was $606,614.”
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.
“We cannot underestimate how important housing is to the financial well-being of our region,” Tiller said. “With July home sales, we’re talking about generating potentially more than $85 million back into the local economy.”
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 4.9 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: July 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.