Did You Really Miss
the Spring Market?
The April 2026 numbers are in — and the opportunity window is still open for buyers and sellers across London and St. Thomas.
The Myth That Costs Buyers and Sellers Every Year
Every spring, the same story repeats itself across London. Buyers and sellers convince themselves that the Spring Market is a narrow window — maybe March, maybe the first two weeks of April — and that once May arrives, the opportunity has expired. That belief costs people real money, every single year.
The pandemic market trained people to think in short windows. When properties were selling in 24 hours regardless of pricing or condition, it felt like you had to move fast or lose everything. That market is gone. And what replaced it is actually better — if you understand how to navigate it.
Today's London, Ontario real estate market is more balanced, more strategic, and more opportunity-driven than any point in recent memory. The data backs that up.
The best time to buy or sell real estate is when your life, your finances, and your strategy align — not when the calendar says so.
April 2026 — What the LSTAR Data Actually Shows
The April 2026 LSTAR report covers the full London and St. Thomas Association of REALTORS® board area. These are the numbers that matter — and the most reliable figure to lead with is always the MLS® HPI Composite Benchmark Price, not the average price, which can be skewed by the mix of homes sold in any given month.
↑ 1.7% over 3 months
Context matters — see below
↑ 11.8% year over year
(4–6 = balanced)
More time to decide
Real negotiating room
The headline sales volume number — down 6.6% year over year — needs context. April 2025 was a relatively stronger spring month. What the data actually shows is a market that is transacting steadily, with improving benchmark prices and growing selection. That combination is rare and worth paying attention to.
New listings came in at 1,772 — up 10.2% versus last April. More supply is entering the market, which creates more choice for buyers and more competition for sellers to navigate strategically.
HPI Benchmark by Property Type — Where the Opportunity Is
Breaking the benchmark price down by property type reveals where the real opportunities are hiding right now.
| Property Type | HPI Benchmark | 1 Month | 3 Months | 12 Months |
|---|---|---|---|---|
| Composite (All Types) | $567,400 | ↑ 0.8% | ↑ 1.7% | ↓ 4.0% |
| Single Family | $621,700 | ↑ 0.7% | ↑ 1.3% | ↓ 3.7% |
| One-Storey (Bungalow) | $563,000 | ↑ 1.8% | ↑ 3.1% | ↓ 3.3% |
| Two-Storey | $669,300 | ↔ 0.0% | ↔ 0.0% | ↓ 4.1% |
| Townhouse | $449,100 | ↓ 0.9% | ↑ 0.2% | ↓ 8.1% |
| Apartment / Condo | $328,500 | ↑ 2.0% | ↑ 1.9% | ↓ 15.1% |
Bungalows Are the Quiet Winner
One-storey homes posted the strongest monthly price momentum at +1.8%, and +3.1% over three months. Demand from downsizers, aging-in-place buyers, and families who want single-floor living continues to push bungalow prices upward even as other segments soften. If you own a well-maintained bungalow in London, you are sitting on one of the most sought-after asset types in this market.
Single Family Remains the Workhorse
470 single family sales in April with a median of just 21 days on market — the fastest-moving segment on the board. Average price of $677,292. Well-priced, move-in ready detached homes are still creating real competition among motivated buyers. This is where professional marketing strategy delivers the most measurable return for sellers.
Townhouses — Most Negotiating Room for Buyers
The townhouse segment is carrying the most inventory pressure, with 4.4 months of supply and prices down 8.5% year over year to an average of $479,810. Buyers looking at townhomes right now have genuine leverage — conditions, price reductions, and extended closing timelines are all on the table in many situations.
Condos / Apartments — The Investor Patience Play
Only 40 apartment sales in April — down 27.3% year over year — with a 7.4-month supply overhang. This is the softest segment in the market. Condo sellers need to be strategically priced to compete. Patient investors willing to look past short-term softness may find entry points here that make long-term sense as population growth and rental demand continue to support London's fundamentals.
The City of London — And the North London Premium
Looking specifically at the City of London — separate from the full LSTAR board area — the picture sharpens further.
London city is moving faster than the broader board — 21 median days on market compared to 24 across the full LSTAR region. That tells you the core city remains in demand even as the wider market softens.
North London continues to carry the region's premium price points. The North A neighbourhood recorded an average price of over $1,034,375 in April, confirming that London's luxury market is alive — it simply demands more patience, with some listings taking considerably longer to find the right buyer. The YTD North London average sits at over $1,036,625, a figure that underscores how dramatically London's market has diversified beyond its mid-range roots.
Why Sellers Still Have Leverage — If They Approach This Correctly
The days of putting a property on MLS and watching multiple offers arrive within 48 hours regardless of price or condition are largely behind us. What replaced that era is not a bad market for sellers — it is a strategic one.
Serious Buyers Are Still Active
The buyers still searching in May and June are not casual browsers. They are motivated — families who need to move before the school year, buyers with rate holds expiring, people who have already sold and need a replacement home, relocating professionals, and investors with clear mandates. These buyers create real transactions. The key is that they expect professional-grade presentation and honest pricing. Overpriced listings are being punished with extended days on market.
Quality Inventory Remains Limited in Key Segments
While overall inventory is at its highest since 2016, not all inventory is equal. Move-in ready, well-maintained family homes — especially detached properties near strong schools — continue to attract disproportionate attention. If your home is in this category and priced correctly, you are not competing with 3,175 listings. You are competing with a much smaller subset of truly comparable properties.
Digital Discoverability Has Changed the Game
Modern buyers are not just driving through neighbourhoods looking at lawn signs. They are searching Google, watching YouTube market updates, asking AI platforms for neighbourhood recommendations, and evaluating agents based on their digital presence long before they pick up the phone. A listing that lacks professional digital marketing is invisible to a significant portion of today's buyer pool. This is not an optional add-on — it is a core component of a competitive listing strategy in 2026.
Why Buyers Have Not Missed Their Window
The fear that grips many buyers right now sounds like this: prices have already rebounded, rates are still too high, competition is returning, and the right time to buy was six months ago. That thinking is understandable. It is also, in most cases, wrong.
Compared to the extreme seller markets of 2021 and early 2022, buyers today have a set of advantages that are genuinely significant — and unlikely to last indefinitely.
More Selection Than Any Point Since 2016
3,175 active listings across the LSTAR board. That is the highest active inventory figure recorded since 2016. Buyers who were navigating a market with under 700 active listings in 2021 would not recognize today's environment. Choice is back. The ability to compare, negotiate, and make measured decisions is back.
The Rate Environment Has Stabilized
The Bank of Canada held its overnight rate at 2.25% on April 29, 2026. The next decision is June 10. Most analysts expect rates to remain stable through the remainder of 2026. The uncertainty that paralyzed buyers in 2022 and 2023 has largely resolved into a clearer, more predictable environment. That predictability matters when planning a major financial decision.
"You Date the Rate. You Marry the Property."
This is one of the most important principles in real estate. If rates decline further, you refinance. If prices rise while you wait for perfect conditions, you may permanently price yourself out of the neighbourhoods and property types you want. Waiting for the ideal moment has a cost — and that cost compounds over time as equity that could be building sits idle.
London Remains Relatively Affordable Within Ontario
With an HPI composite benchmark of $567,400, London sits meaningfully below the national benchmark and well below markets like the GTA, Hamilton-Burlington, and Guelph. For families, investors, and professionals making the move from larger Ontario markets, London continues to offer a combination of affordability, infrastructure, education, and quality of life that is genuinely difficult to replicate.
What to Expect Through the Rest of 2026
The London and St. Thomas market is not in a boom, and it is not in a bust. It is in a normalization — one that rewards preparation, strategy, and honest expectations over emotional decision-making.
Benchmark prices are quietly trending upward month over month. Inventory is elevated but not overwhelmed. Serious buyers are active. Motivated sellers are transacting. The market has simply evolved into one that requires a more thoughtful approach from everyone involved.
- For SellersProfessional pricing, staging, and digital marketing are non-negotiable. The market rewards quality listings and punishes overpriced ones with extended days on market.
- For BuyersMore choice, more time, more negotiating room than at any point since 2016. The window that exists right now will narrow as inventory absorbs and rates potentially shift.
- For InvestorsCondos and townhouses present entry-point opportunities for patient capital. Single family and bungalow fundamentals remain solid for long-term holds.
- For EveryoneStop waiting for the perfect market. Navigate the real one — with the right team, the right data, and a clear long-term strategy.
Real estate in London, Ontario is still one of the strongest long-term wealth-building vehicles available to families in this region. The fundamentals that drive demand — Western University, healthcare, manufacturing, GTA relocation, infrastructure investment — have not changed. The market has. Opportunity has not.
Ready to Make Your Move?
Whether you are buying, selling, investing, or simply want to understand what today's market means for your specific situation — let's have a real conversation.
Visit Us Online at www.ryanandsandra.caData sourced from the London and St. Thomas Association of REALTORS® (LSTAR) April 2026 MLS® Residential Market Activity Report, prepared by the Canadian Real Estate Association (CREA) using the PropTx MLS® System. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA. All market statistics are as of April 1, 2026. This content is for informational purposes only and does not constitute financial or legal advice.
