Sales activity eased in July across the London and St. Thomas area. Active listings remained above last year, months of inventory increased, and average prices were lower year over year.
CREA generally considers 45% to 65% to be balanced. July came in just below that range and was slightly above the 44.3% recorded in July 2025.
Months of inventory was 4.9 in July, compared to 4.5 one year earlier. Active listings reached 3,367, up 3.5% from July 2025.
The average price was $603,006 in July, down 6.7% from July 2025. The median price was $555,000, down 7.5% over the same period.
| Metric | July 2026 | Compared to July 2025 |
|---|---|---|
| Sales Activity | 686 | Down 4.9% |
| Dollar Volume | $413,662,291 | Down 11.2% |
| New Listings | 1,543 | Down 5.1% |
| Active Listings | 3,367 | Up 3.5% |
| Sales-to-New-Listings Ratio | 44.5% | 44.3% in July 2025 |
| Months of Inventory | 4.9 | 4.5 in July 2025 |
| Average Price | $603,006 | Down 6.7% |
| Median Price | $555,000 | Down 7.5% |
| Sale-to-List Price Ratio | 97.1% | 97.6% in July 2025 |
| Median Days on Market | 30 | 25 in July 2025 |
Average price is based on the homes that sold during the month. Benchmark price is the MLS® HPI estimate for a typical home in that area where available.
| Area | Sales | Average Price | Benchmark Price | Months of Inventory | Median DOM |
|---|---|---|---|---|---|
| London Overall | 448 | $596,617 | N/A | 4.9 | 30 |
| North London | 143 | $701,759 | $621,000 | 4.7 | 33 |
| South London | 184 | $607,101 | $556,300 | 5.0 | 31 |
| East London | 121 | $456,416 | $430,000 | 4.9 | 25 |
| St. Thomas | 74 | $500,819 | $506,500 | 3.2 | 27.5 |
| Strathroy-Caradoc | 27 | $548,041 | $726,700 | 4.7 | 27 |
| Middlesex Centre | 25 | $844,452 | $775,700 | 6.5 | 35 |
| Central Elgin | 20 | $645,374 | $640,200 | 5.8 | 27.5 |
The HPI benchmark price is designed to track the value of a typical home. It can be more useful for trend tracking than the average sale price because the average can move depending on which homes sold that month.
| Property Type | Sales | Average Price | Active Listings | Months of Inventory | Median DOM |
|---|---|---|---|---|---|
| All Residential | 686 | $603,006 | 3,367 | 4.9 | 30 |
| Single Family | 526 | $649,459 | 2,442 | 4.6 | 29 |
| Townhouse | 97 | $470,003 | 481 | 5.0 | 38 |
| Apartment | 42 | $353,621 | 281 | 6.7 | 40 |
London and St. Thomas remained below the national MLS® HPI benchmark in July. The local benchmark was $557,000, compared to the Canada benchmark of $661,800.
Every price range and neighbourhood behaves differently. If you are thinking about buying or selling in London, St. Thomas, or the surrounding area, local pricing strategy matters more than the headline average.
Source: London and St. Thomas Association of REALTORS®, Canadian Real Estate Association, MLS® Residential Market Activity and MLS® Home Price Index Report, July 2026. Benchmark price chart values are from the July 2026 MLS® Home Price Index benchmark price comparison graphic. Market data can be revised in future reports.
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