Are London prices finally turning a corner?

Every conversation we're having with buyers and sellers right now circles back to the same question: is London, Ontario finally climbing out of this correction, or are we stuck in a permanent buyer's market?

The honest answer is more nuanced than either side of that question wants to hear. Year-over-year numbers still reflect the tail end of a prolonged correction — that part of the headline is true. But the month-over-month data tells a different, more current story: a market that is stabilizing in real time and sitting right on the edge of balanced territory.

HPI benchmark vs. average sale price

Headlines love the average sale price because it's one big, attention-grabbing number. But the average gets dragged around by a handful of high-end sales. The composite HPI benchmark is the number that actually reflects what a typical London home is worth — and it's the one we lead with.

What a 42.8% sales-to-new-listings ratio actually means

A sales-to-new-listings ratio of 42.8% still firmly favours buyers — generally, anything below 40% signals a buyer's market and anything above 60% favours sellers, with the zone in between considered balanced. At 42.8%, London is edging toward that balanced middle ground, which is meaningfully different from where this market sat a year ago.

For buyers, this still means real negotiating leverage: room for conditions, room to negotiate on price, and less pressure to waive protections. For sellers, it means pricing has to be realistic and presentation has to be sharp — but it also means the worst of the standoff may be behind us.

Why single-family and condos are rising while townhouses fall

This is the part of the market that the average sale price completely hides: London isn't one market right now, it's three — and they're not all moving the same direction.

The supply signal nobody's talking about

Months of inventory measures how long it would take to sell through everything currently listed at the current pace of sales. It's one of the most reliable early signals of where pricing power is headed.

That drop from 5.0 to 4.3 months, combined with sales increasing steadily, is the clearest evidence we have that momentum is shifting — even while the year-over-year comparisons still look soft.

Which pockets of London are holding value best

Not every part of London is experiencing this correction the same way. London North continues to show the most resilience, supported by school catchment demand and proximity to Western and University Hospital. London South has held up well in the single-family segment, particularly in established, mature neighbourhoods. London East has felt more pressure on the townhouse and entry-level segment specifically — which lines up with the segment data above.

If you're trying to time a purchase or a sale around a specific neighbourhood, this is exactly the kind of street-level detail that the city-wide averages will never show you — and exactly the conversation we'd want to have with you directly.

Should you buy now, or wait until 2027?

Here's the realistic, data-backed answer: waiting for a "perfect" signal is waiting for something that may never arrive cleanly. Months of inventory are already tightening. Apartment and single-family pricing is already showing short-term strength. If that momentum continues into a rate hold — or eventually a cut — buyers waiting on the sidelines for more leverage may find that leverage has already started slipping away.

That doesn't mean every buyer should rush. It means the decision should be based on your specific situation, your specific neighbourhood, and your specific timeline — not a national headline.