Real Estate Blog

In February, 410 homes exchanged hands via the Multiple Listing Service® (MLS®) of the London and St. Thomas Association of REALTORS® (LSTAR). Although down 18.7% compared to the same month a year ago, the home sales jumped up from January, which saw 341 homes sold.

“We’re encouraged by the uptick in sales,” said Robin Tiller, LSTAR’s 2026 Chair. “There is a lot of pent-up demand, and we’ll be closely watching the Bank of Canada’s next interest rate announcement scheduled for March 18.”

Average sales price in February was $622,414, down 3.5% from February 2025 and on par with the $624,550 average price recorded in January.

“LSTAR continues to advocate to all three levels of government on policy recommendations that address affordability…

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The Multiple Listing Service® (MLS®) of the London and St. Thomas Association of REALTORS® saw 341 homes change hands in January, down 10.3% compared to the same month a year ago. The average sale price was $624,550 which represents an increase of over $10,000 from December and is down just 0.6 % from January of 2025.

“The sales-to-new listings ratio dropped substantially in January, to 32.2,” said Robin Tiller, LSTAR’s 2026 Chair. “That is noticeably lower than December’s ratio of 71.6. This would indicate conditions of a buyers’ market, according to the Canadian Real Estate Association (CREA), but aligns with expected numbers for a typical January market.”

“Inventory continues to remain at a historically high level,” Tiller continued, “with 6.6…

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In December, 398 homes exchanged hands via the MLS® (Multiple Listing Service) System of the London and St. Thomas Association of REALTORS® (LSTAR). That was up 0.8%, compared to the same month a year ago, and marked the best December since 2021. Overall, 6,938 homes were sold in 2025, down 5.0% from 2024.

“Interestingly, the sales-to-new listings ratio showed quite a rebound in December,” said Dale Marsh, 2025 LSTAR Chair. “It was 71.6, noticeably higher than November, which was 49.5. According to the Canadian Real Estate Association (CREA), a sales-to-new listing ratio between 45% and 65% indicates conditions of a balanced market. December activity started to show signs of the conditions consistent with a sellers’ market. December’s 71.6 sales-to-new…

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In November, 492 homes exchanged hands via the MLS® (Multiple Listing Service) System of the London and St. Thomas Association of REALTORS® (LSTAR). That was down 19.2%, compared to the same month a year ago, but up 15.5% from November 2023.

“Although down from the previous November, sales were on par with activity in the last four years,” said Dale Marsh, 2025 LSTAR Chair. “Based on the economic climate across the country and the uncertainty in the marketplace, many potential buyers remain on the sidelines. This is evident by the 5.7 months of inventory in November, which is the highest inventory level recorded in the month, over the past 10 years.”

Average sales price remained virtually unchanged from the previous month. It was $604,994 in…

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October had some encouraging signs with 607 homes exchanging hands via the MLS® (Multiple Listing Service) System of the London and St. Thomas Association of REALTORS® (LSTAR), an increase from the previous month, which saw 534 homes sold in September. Although it was down 8.7% from October 2024, the sales are up 25.4% compared to the same month in 2023.

“Consumer confidence seems to be growing, and the latest interest rate cut from the Bank of Canada may help fuel further activity in the marketplace,” said Dale Marsh, 2025 LSTAR Chair. “Inventory is at its highest level in the last 10 years, with more than five months in the LSTAR region.”

Average sales price also continued to slightly edge down. In October, it was $605,560, down 3.7% compared to…

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In September, 1,701 new listings were recorded via the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR), up 13.7% compared to the same month a year ago. With listings outpacing the number of sales, the sales-to-new listings ratio also eased to 31.4% compared to 45.7% in August.


“When the sales-to-new listings ratio falls below 45%, it’s consistent with the conditions of a buyers’ market,” said Dale Marsh, 2025 LSTAR Chair. “According to the Canadian Real Estate Association (CREA), a sales-to-new listing ratio between 45% and 65% shows signs of a balanced market. September saw six months of inventory, which is up from August, which recorded five months of inventory.”


“We’re encouraged by the recent interest rate cut by…

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In August, 616 homes exchanged hands via the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR), up 10.4% compared to the same month a year ago. Similar to July, August posted its strongest sales month since 2021.

“August recorded the highest inventory level in the last 10 years, with five months of inventory,” said Dale Marsh, 2025 LSTAR Chair. “New listings also reached a peak since 2015, with 1,347, and the sales-to-new listing ratio was 45.7%. According to the Canadian Real Estate Association (CREA), a sales-to-new listing ratio between 40% and 60% indicate a balanced market. When it drops below 40%, it starts to show signs of a buyers’ market.”

Average sales price was similar to July, at $651,329, up 3.3% compared to…

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In July, 725 homes exchanged hands via the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR), up 28.1% compared to the same month a year ago. That’s the best month of sales for July since 2021.  

“Historically we see less activity during the summer season, so these numbers are very encouraging,” said Dale Marsh, 2025 LSTAR Chair. “The housing market continues the pattern reflected over the last few months, with more new listings and robust inventory. The overall sales-to-new listing ratio was 44.6%, which the Canadian Real Estate Association (CREA) would indicate as a balanced market.”

Average sales price was in line with June, coming in at $648,273, down just 0.6% compared to July 2024. Meanwhile, the Composite MLS® Home…

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Despite ongoing uncertainty with U.S. tariffs and the global geopolitical climate, the local housing market continued its steady streak in June, with 745 homes exchanging hands via the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR). Housing supply showed signs of stabilization, with almost four and a half months of inventory last month, unchanged from the inventory recorded in May.  

“We continue to see the trend of more new listings coming on the market, which helps explain the healthy level of housing stock across our region,” said Dale Marsh, 2025 LSTAR Chair. “In June, there were 1,814 new listings, up 10.5% compared to the same month a year ago, with an overall sales-to-new listing ratio of 41.1%. According to the…

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The London and St. Thomas Association of REALTORS® (LSTAR) has released its May 2025 residential market report, reflecting a market in transition amid broader economic pressures, including the ongoing impact of US tariffs.

In May, 722 homes were sold—a 15.4% decline from May 2024. Meanwhile, new listings rose 15.3% to 1,999, and active listings climbed 26.5% to 3,253, offering buyers a wider selection of properties.

“The increase in listings is encouraging for buyers,” said Dale Marsh, 2025 LSTAR Chair. “However, economic uncertainty, particularly from US tariffs, continues to influence market behavior.”

The average home price reached $656,432, up 1.4% year-over-year, signaling steady demand. Inventory levels also rose, with 4.5 months of supply,…

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