By Sean Cuddy, Sales Representative, REALTOR® · The Realty Firm Brokerage · July 7, 2026

If you're thinking about buying or selling in London or St. Thomas this summer, the June numbers from the London and St. Thomas Association of REALTORS® (LSTAR) tell a pretty clear story. Sales were steady, new listings kept coming, and the ratio between the two continues to point to a market that favours buyers. Here's what actually happened last month, what it means depending on which side of a transaction you're on, and a look at how a couple of other Ontario markets compare.

London & St. Thomas by the Numbers: June 2026

Here's how the local market performed last month, according to LSTAR's June report:

Compared to the spring, prices have been easing gradually. The average sale price was $662,292 in May and $618,665 in April, so June's $606,614 continues that gentle downward trend rather than signalling any sudden shift.

Why Pricing Your Home Correctly Matters Right Now

In a market with this much buyer choice, pricing strategy is the single biggest factor in how quickly, and how successfully, a home sells. Homes priced to reflect what buyers are actually willing to pay today are still selling, often faster than owners expect. Homes priced based on last year's numbers, or on emotion rather than data, tend to sit on the market, go stale, and end up chasing the market downward instead of leading it.

If you're thinking about listing this year, this is the conversation worth having before the sign goes in the yard, not after. A proper pricing strategy starts with a real comparative market analysis, not a number pulled from a neighbour's sale two years ago.

A Quick Look Beyond London: GTA and Waterloo Region

Most buyers and sellers here are focused on our local market, but it's worth a glance at two other Ontario regions, since conditions there tend to shape buyer psychology, lending trends, and migration patterns that eventually filter back into London.

Greater Toronto Area (TRREB)

June sales in the Greater Toronto Area jumped 9.4% year over year to 6,770 homes, while new listings fell nearly 13%. That combination has tightened conditions noticeably, and the Toronto Regional Real Estate Board is watching for renewed price growth in the second half of the year if the trend holds. Average price was still down close to 4% year over year, though the pace of those annual declines has been shrinking with each passing month.

Waterloo Region (Cornerstone)

June sales in Waterloo Region came in essentially flat compared to last year, with the region continuing to sit in balanced territory around 4 months of supply. Kitchener-Waterloo and Cambridge have both seen benchmark prices ease slightly on a year-over-year basis, a pattern similar to what we're experiencing here in London.

The bigger picture across all three markets is fairly consistent: buyers have more say than they've had in a while, inventory remains elevated compared to the tightest years of the past decade, and pricing strategy matters more than almost any other factor in a successful sale.

Market data sourced from the London and St. Thomas Association of REALTORS® (LSTAR), the Toronto Regional Real Estate Board (TRREB), and the Cornerstone Association of REALTORS®. Statistics reflect June 2026 reporting and are provided for general market awareness. This post does not constitute financial or legal advice; consult a licensed REALTOR® or professional for guidance specific to your situation.