London Ontario Real Estate Market Update
London & St. Thomas Real Estate Market Stats — July 2026
In July 2026, the MLS® HPI Composite Benchmark Price for London and St. Thomas was $557,000, down 0.7% from June and down 4.0% year-over-year, according to the London and St. Thomas Association of REALTORS® (LSTAR). LSTAR reported 686 home sales in July 2026, a 4.9% decrease from July 2025, alongside 3,367 active listings, up 3.5% year-over-year.
Every month, Ryan Hodge & Sandra Tavares break down the latest London Ontario real estate market data straight from LSTAR so buyers and sellers can make decisions based on facts, not headlines. Here's where the market stood in July 2026.
MLS® HPI Benchmark Price — July 2026
The MLS® Home Price Index (HPI) Benchmark Price is the most reliable measure for tracking home values over time, since it adjusts for the mix of properties sold each month — unlike average price, which can swing based on which homes happened to sell. LSTAR's July 2026 benchmark figures by housing type:
| Home Type | Benchmark Price | 1 Month | 12 Months |
|---|---|---|---|
| Composite (All Homes) | $557,000 | -0.7% | -4.0% |
| Single Family | $606,800 | -1.1% | -4.7% |
| One Storey | $536,300 | -2.2% | -6.0% |
| Two Storey | $663,300 | -0.5% | -3.9% |
| Townhouse | $428,400 | -1.0% | -9.4% |
| Apartment | $330,000 | +1.8% | -7.6% |
All benchmark price figures sourced directly from LSTAR's July 2026 MLS® Home Price Index Report.
Sales Activity & Inventory — July 2026
686
Homes Sold (July 2026)
-4.9% vs. July 2025
1,543
New Listings (July 2026)
-5.1% vs. July 2025
3,367
Active Listings (month end)
+3.5% vs. July 2025
4.9
Months of Inventory
Up from 4.5 in July 2025
| Metric | July 2026 | July 2025 | YoY Change |
|---|---|---|---|
| Average Price | $603,006 | $646,300* | -6.7% |
| Median Price | $555,000 | $600,000* | -7.5% |
| Sales-to-New-Listings Ratio | 44.5% | 44.3% | +0.2 pts |
| Sale-to-List Price Ratio | 97.1% | 97.6% | -0.5 pts |
| Median Days on Market | 30 days | 25 days | +5 days |
*July 2025 dollar figures back-calculated from LSTAR's published year-over-year percentage change; treat as approximate.
A Sales-to-New-Listings Ratio of 44.5% and 4.9 months of inventory put London and St. Thomas in balanced-to-buyer's market territory as of July 2026, per LSTAR data — buyers have more room to negotiate than they did a year ago, while well-priced homes in high-demand pockets are still moving in weeks, not months.
Year-to-Date Snapshot (January–July 2026)
| Metric | 2026 YTD | YoY Change |
|---|---|---|
| Sales Activity | 4,182 | -2.9% |
| New Listings | 10,545 | -1.4% |
| Average Active Listings | 2,968 | +7.9% |
| Average Price | $623,992 | -3.5% |
| Median Price | $572,000 | -4.5% |
National Context
The Bank of Canada held its target overnight rate at 2.25% at its September 2, 2026 announcement, marking the seventh consecutive hold, with the next scheduled rate decision set for October 28, 2026. For London-area buyers weighing a purchase against borrowing costs, that stability — combined with softer benchmark prices and rising inventory — is one of the more favourable buying windows the market has offered in the past year.
London Neighbourhood Watch
Byron continues to set the premium benchmark for South London, holding strong demand even as prices soften citywide. In Wortley Village and Old South, heritage character keeps competition tight among move-up buyers. North London — Masonville and Medway — remains the city's highest-volume family market, while East London stays the go-to for value-conscious and first-time buyers navigating today's mortgage rates.
Watch the July 2026 Market Update
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Frequently Asked Questions
What is the MLS® HPI Benchmark Price in London Ontario for July 2026?
The MLS® HPI Composite Benchmark Price for London and St. Thomas was $557,000 in July 2026, down 0.7% from the previous month and down 4.0% from July 2025, according to LSTAR.
Is London Ontario a buyer's market or seller's market right now?
As of July 2026, LSTAR reported a Sales-to-New-Listings Ratio of 44.5% and 4.9 months of inventory in London and St. Thomas, figures generally associated with a balanced-to-buyer's market, giving buyers more negotiating room than a year earlier.
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