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

London and St. Thomas Association of REALTORS — May 2026

In May 2026, the London and St. Thomas Association of REALTORS® reports a composite benchmark price of $570,000 and an average price of $476,844. The market remains balanced with a sales-to-new listings ratio of 42.8% and 4.3 months of inventory.

Market Analysis

The real estate market in London and St. Thomas shows signs of stability as sales activity continues to grow month over month. With 776 homes sold in May, there is an 8.8% increase compared to the same month last year, indicating a steady demand for housing. The sales-to-new listings ratio of 42.8% suggests that while demand is strong, it is balanced by the supply available, creating a healthy market environment. The months of inventory decreased slightly from 4.5 in April to 4.3 in May, reflecting a tightening supply that may influence future pricing trends.

Property Type Analysis

While specific benchmark prices and sales figures for property types are not available this month, the overall market dynamics indicate that detached homes, attached/townhouses, and apartments are all experiencing similar trends in buyer interest. The average sales price for the London region rose significantly, with notable increases in London South and London East, suggesting that various property types are benefiting from the current market conditions, albeit with varying degrees of demand.

Regional Highlights

In the London South area, the average sales price reached $677,226, a substantial increase from $626,840 in April, highlighting strong buyer interest in this region. London East also saw a rise in average sales price to $476,844 from $450,793, indicating a healthy market across different neighborhoods. These regional trends reflect the overall balanced market condition, with inventory levels stabilizing and buyer activity remaining robust.

For Buyers

Prospective buyers should take advantage of the current balanced market conditions, as the sales-to-new listings ratio suggests a reasonable selection of homes is available. With prices showing upward momentum, buyers are encouraged to act promptly to secure properties that meet their needs, as the market may tighten further as summer approaches.

For Sellers

Sellers are advised to prepare their homes for sale, as the current market conditions favor those looking to list. With a sales-to-new listings ratio of 42.8% and decreasing months of inventory, there is potential for competitive offers. Proper pricing and staging can attract serious buyers, making it an opportune time to enter the market.