Courtesy of Blair Patton

HOME SALES INCREASE IN MAY

42.8% SALES TO NEW LISTING RATIO 4.3 MONTHS OF INVENTORY

3,353 ACTIVE LISTINGS

$570,000 all residential BENCHMARK PRICES DOWN 13.9% year-to-year

776 SOLD LISTINGS 1,815 NEW LISTINGS

London, ON, June 2026 – Home sales grew steadily month over month with 776 homes changing hands via the Multiple Listing Service ® (MLS ® ) of the London and St. Thomas Association of REALTORS ® (LSTAR). That was up 8.8%, compared to May 2025, and an increase of 138 more units sold over the previous month. “It’s an encouraging sign, as we head into the summer season,” said Robin Tiller, LSTAR’s 2026 Chair. “Since the start of the year, we’ve consistently seen month-over-month gains in sales. Activity is right on par with the last five years.” Average sales price took a healthy jump in May. It was $662,292, up from $618,665 in April. The London region saw noticeable month-over-month gains. In London South, the average sales price was $677,226, up from $626,840 the previous month, as well as London East, with an average price of $476,844, up from $450,793 in April. “The sales-to-new listings ratio was 42.8%, up from 36% recorded in April,” Tiller said. “According to the Canadian Real Estate Association (CREA), a ratio between 45% and 65% indicates conditions of a balanced market. We also saw inventory levels beginning to stabilize in May, with 4.3 months of inventory, down from 4.5 months of inventory compared to the same time in 2025. That’s down from the 5 months of inventory recorded in April.” The table below displays May’s average prices and MLS ® HPI Benchmark Prices in LSTAR’s main regions.

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. Statistics reflect residential market activity in May 2026 | Source: London St. Thomas Association of REALTORS ® . Individual home market values vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

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