London Ontario Real Estate Market Update – April 2026

The latest data from the London and St. Thomas Association of REALTORS (LSTAR) indicate a steady yet shifting housing market across London and the surrounding region. Although overall sales dipped slightly year-over-year, rising inventory levels and stable pricing are creating new opportunities for buyers and sellers alike.

Home Sales Hold Steady Despite Year-Over-Year Dip

In April 2026, 638 homes sold across the LSTAR region. That’s a 6.6% decrease compared with April 2025, but 52 more sales than in March 2026, signalling improving momentum as the spring market unfolds.

Inventory levels remain elevated, with five months of inventory recorded in April. This increase in available homes is giving buyers more choice and easing some of the competitive pressure seen in previous years.

The sales-to-new listings ratio came in at 36%, below the 45% threshold identified by the Canadian Real Estate Association as indicative of a buyer’s market.

Home Prices Show Stability Across the Region

The average home price in April was $618,665, a slight decrease from March’s $627,112. Although prices softened month-over-month, benchmark values continue to trend higher, reflecting underlying stability.

Notable Local Price Trends:

• St. Thomas: $584,110 (up from $562,191)
• Strathroy-Caradoc: $656,869 (up from $590,848)

Across the region, the MLS® Home Price Index (HPI) benchmark price—which reflects a “typical home”—rose to $567,400, marking:

• +0.8% from March 2026
• +1.7% from January 2026

This indicates gradual price growth, even as average prices fluctuate by home type.

Housing Type Breakdown – Where the Market Is Moving

Different property types are experiencing varying levels of demand:

• One-storey homes: +1.8% month-over-month
• Apartments/condos: +2.0% month-over-month
• Townhomes: -0.9% month-over-month
• Two-storey homes: flat pricing

This suggests continued demand for entry-level and downsizing-friendly housing, while larger family homes are seeing more balanced conditions.

A Note from Elevate Real Estate Group

“We’re seeing a more balanced market take shape across London and the surrounding communities. Buyers finally have options again, while sellers who price strategically continue to achieve strong results. It’s not about timing the market perfectly; it’s about understanding how to position yourself within it.”

— Elevate Real Estate Group, Royal LePage Triland Realty

What This Means for Buyers, Sellers, and Investors

For Buyers

With more listings and less competition, buyers are gaining leverage:

• More time to evaluate properties
• Greater negotiating power
• Increased ability to include conditions (financing, inspection)

If you’ve been waiting for a less competitive environment, this is one of the most favourable windows we’ve seen in recent years.

For Sellers

While demand remains steady, the strategy has shifted:

• Accurate pricing is more important than ever
• Homes that show well and are marketed effectively still sell quickly
• Overpricing can lead to longer days on market

Sellers who adapt to current conditions continue to achieve strong outcomes.

For Renters

Changes in the resale market can influence rental trends:

• More buyers entering the market may ease rental demand slightly
• However, affordability challenges still keep many renters in place
• Rental inventory may remain tight in desirable areas

For Landlords & Investors

This market presents a mixed but strategic opportunity:

• Stable pricing supports long-term investment confidence
• A slower sales pace may create buying opportunities
• Rental demand remains resilient, especially in London’s core

Investors focused on cash flow and long-term appreciation should continue to find value in this market cycle.

Broader Economic Impact of Real Estate

According to a recent Altus Group study, each home sale in Ontario generates an average of $124,200 in economic spin-off activity, including renovations, legal services, and moving costs.

With 638 transactions in April, that represents over $79 million in local economic impact, reinforcing how critical real estate remains to the broader economy.

London Vs Canada

How does London pricing stack up against the rest of Canada? 

 

Final Thoughts

The April 2026 London, Ontario, real estate market reflects a transition toward balance. Buyers have more opportunities, sellers need sharper strategies, and investors can find value with the right approach.

If you’re considering a move, whether buying, selling, or investing, understanding these market shifts is key to making confident, informed decisions.

Looking to buy or sell in London, Ontario? Connect with Elevate Real Estate Group for expert guidance tailored to today’s market.

 

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