Real Estate Blog - Brian VanBart's Blog

In July, 686 homes changed hands via the Multiple Listing Service® (MLS®) of the London and St. Thomas Association of REALTORS® (LSTAR). Although down 4.9% from July 2025, the sales activity is on par with activity recorded in the past four years.

“The marketplace is starting to see a little more certainty around interest rates, with the Bank of Canada maintaining its policy rate at 2.25% last month, which has remained the same since last October,” said Robin Tiller, LSTAR’s 2026 Chair. “With historically high inventory, it’s setting the stage for a busier fall market. July saw 4.9 months of inventory, with 3,367 active listings across the LSTAR region.”

The July sales-to-new listings ratio was 44.5%, up from June which came in at 41.6%.

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In June, 753 homes changed hands via the Multiple Listing Service® (MLS®) of the London and St. Thomas Association of REALTORS® (LSTAR). That was up 1.6%, compared to June 2025, and on par with June sales over the past four years.

“The June sales-to-new listings ratio was 41.6%, on par with May which came in at 42.8%,” said Robin Tiller, LSTAR’s 2026 Chair. “According to the Canadian Real Estate Association (CREA), a ratio between 45% and 65% indicates conditions of a balanced market. Historically, we’ve seen slower activity during the summer season, but the June data has given us a steady start.”

Average sales price saw some fluctuation last month. It was $606,614, down 6.7% from the same month a year ago. By comparison, the May average sales price…

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Home sales grew steadily month over month with 776 homes changing hands via the Multiple Listing Service® (MLS®) of the London and St. Thomas Association of REALTORS® (LSTAR). That was up 8.8%, compared to May 2025, and an increase of 138 more units sold over the previous month.

“It’s an encouraging sign, as we head into the summer season,” said Robin Tiller, LSTAR’s 2026 Chair. “Since the start of the year, we’ve consistently seen month-over-month gains in sales. Activity is right on par with the last five years.”

Average sales price took a healthy jump in May. It was $662,292, up from $618,665 in April. The London region saw noticeable month-over-month gains. In London South, the average sales price was $677,226, up from $626,840 the previous…

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In April, 638 homes changed hands via the Multiple Listing Service® (MLS®) of the London and St. Thomas Association of REALTORS® (LSTAR). Although down 6.6% compared to April 2025, that was an increase of 52 more units sold over the previous month.

“Inventory remains at a historically high level, with five months of inventory recorded in April” said Robin Tiller, LSTAR’s 2026 Chair. “There are plenty of options for prospective buyers, and this is reflected in the sales-to-new listings ratio, which was 36%. According to the Canadian Real Estate Association (CREA), a sales-to-new listings ratio below 45% indicates signs of a buyers’ market.”

Average sales price was $618,665 in April, down from the previous month, which was $627,112. Noticeable month…

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In March, 586 homes changed hands via the Multiple Listing Service® (MLS®) of the London and St. Thomas Association of REALTORS® (LSTAR). That was up 4.1% compared to the same month a year ago and 186 more units sold over the previous month.

“Activity has certainly been picking up, which is a positive sign,” said Robin Tiller, LSTAR’s 2026 Chair. “With the change in weather, we’re very encouraged that this is just the beginning of a healthy spring market.”

Month over month, average sales price rose slightly in March at $627,112, from $622,414 in February. Noticeable month over month gains in average sales price happened in London South, with average price at $636,946, up from $617,817 the previous month, as well as St. Thomas, coming in at $562,191,…

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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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