Is It a Good Time to Sell a House in London, Ontario?
The spring market showed up late this year — and that delay may be the best timing advantage London sellers have seen in months.
A Late Start, Then a Real Move
London & St. Thomas's MLS® HPI composite benchmark price sat at $567,400 in April, and the broader market followed with a notable jump in May: the average sale price climbed to $662,292, up from $618,665 the month before. London South alone moved from $626,840 to $677,226 in a single month.
Numbers like that don't happen by accident. They happen when buyers who have been sitting on the sidelines for months finally decide the wait is over — and they all show up around the same time.
"The market didn't fail to show up this spring — it just showed up late. And late demand still counts."
What Was Holding Buyers Back
For most of the year, macroeconomic noise kept both buyers and sellers cautious. The Bank of Canada has now held its key interest rate at 2.25% for five consecutive announcements, including its most recent decision on June 10. That's not a rate cut — it's a deliberate pause while the Bank weighs inflation risk from elevated oil prices against a soft domestic economy.
Stability, even without a cut, has been enough to bring hesitant buyers back to the table. Mortgage payments aren't getting cheaper this month, but they're also not getting more expensive — and after a year of uncertainty, predictability on its own has value.
Market balance is shifting fast
London's sales-to-new-listings ratio jumped from 36% in April to 42.8% in May. CREA considers a ratio below 45% a buyer's market and 45–65% balanced — meaning London moved most of the way toward balanced conditions in a single month.
Sales activity is on a five-year track
LSTAR's 2026 Chair, Robin Tiller, noted the region has seen consistent month-over-month sales gains since the start of the year, with activity now right on par with the last five years.
National forecasts are still cautious
CREA's most recent national forecast (published in April, with an update due July 15) projected just 1.5% average price growth for 2026, with virtually no growth forecast in Ontario. The local May data is running ahead of that national caution — which is exactly why local timing matters more than national headlines right now.
What This Means If You're Thinking About Selling
- Buyer demand that was paused, not gone, is now actively returning to the market.
- Fewer competing listings means less competition for sellers who list now versus waiting for peak summer inventory.
- Rate stability at 2.25% gives buyers the confidence to act, without the urgency of a looming rate hike pricing them out.
- Homeowners considering an upsize benefit twice: a stronger sale price on their current home and a market still priced below its 2022 peak on the buy side.
Why This Matters Most If You've Outgrown Your Home
If you're a homeowner who has outgrown your current property, this stretch of the market deserves a closer look. You're selling into renewed demand while buying into a market that, despite May's gains, remains more than 20% below its April 2022 peak regionally. That combination — a stronger seller's position on what you're selling, and a still-discounted entry point on what you're buying — doesn't last indefinitely.
Waiting for a "perfect" headline rate cut or a flashier market signal often means missing the localized window that's already open. The data suggests that window is open right now.
A Delayed Spring Is Still a Spring
London's spring market arrived late, but May's numbers show it arrived with real momentum — rising prices, returning buyers, and a market moving toward balance. For sellers who have been waiting for the right moment, particularly those ready to upsize, this stretch of the year is shaping up to be exactly that.
Ryan Hodge & Sandra Tavares
The Realty Firm Inc. Brokerage
ryan@therealtyfirm.ca
www.ryanandsandra.ca
734 Wellington Street, London, Ontario N6A 3S4
Awards & Reviews
Market data sourced from the London & St. Thomas Association of REALTORS® (LSTAR), the MLS® Home Price Index, the Canadian Real Estate Association (CREA), and the Bank of Canada. Figures reflect April–May 2026 reporting and are subject to change.
