London and St. Thomas Association of REALTORS Market Report - August 2026

London and St. Thomas Association of REALTORS — August 2026

In August 2026, the average home price in the London and St. Thomas region reached $489,735, with a sales-to-new listings ratio of 37.5%. The market continues to exhibit characteristics of a buyers' market, as inventory levels rise to 6.3 months.

Market Analysis

The London and St. Thomas real estate market is currently experiencing a shift towards a buyers' market, evidenced by a sales-to-new listings ratio of 37.5%, down from 44.5% in July. This indicates that the number of homes sold is not keeping pace with new listings, resulting in a growing inventory of homes available for sale. With 6.3 months of inventory, the market is showing signs of increased supply, which typically leads to more negotiating power for buyers. The average price of homes sold in August is $489,735, reflecting a stable pricing environment despite the increased inventory.

Property Type Analysis

While specific sales data for different property types is not available, the overall market dynamics suggest that detached homes, attached/townhouses, and apartments may all be experiencing similar trends of increased inventory and buyer preference. The average price of homes across the region indicates that buyers are likely exploring various options, potentially leading to varied price movements across different property types in the coming months.

Regional Highlights

In London East, the average sales price saw a notable increase to $489,735 in August, up from $456,416 in July. Meanwhile, St. Thomas also experienced a rise, with the average sales price climbing to $557,485 from $500,819. These regional trends highlight localized market strengths, even amidst broader market conditions favoring buyers.

For Buyers

For buyers navigating the current market, it is advisable to take advantage of the increased inventory levels. With more options available, buyers can afford to be selective and negotiate better terms. It is also essential to stay informed about local market trends and pricing to make well-informed decisions.

For Sellers

Sellers should be aware of the current buyers' market conditions and consider pricing their homes competitively to attract interest. With rising inventory levels, it may be beneficial to enhance property appeal through staging or minor renovations to stand out in a crowded market. Additionally, working with a knowledgeable REALTOR® can provide valuable insights into effective marketing strategies.