London Ontario Real Estate Market Update: What April 2026 Is Really Telling Buyers and Sellers

By Sean Cuddy, Sales Representative | The Realty Firm Brokerage

Spring is here, and if you've been watching the London Ontario real estate market, you know there's a lot happening right now. Whether you're thinking about buying, selling, or just keeping tabs on what your home is worth, April's numbers tell a pretty clear story and it's one worth paying attention to.

Let's dig into what actually happened in April 2026, what it means for you, and why having the right Realtor in your corner has never mattered more.

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London & St. Thomas April 2026 Market Stats at a Glance

April saw 638 homes sold through LSTAR (the London and St. Thomas Association of REALTORS). That number is down 6.6% compared to April 2025, but here's what's important: it's actually 52 more homes sold than the month before. Sales are moving in the right direction month over month.

The average sale price in London and St. Thomas came in at $618,665, down slightly from March's $627,112, but holding relatively steady. Inventory remains elevated, with 5.0 months of supply on hand (up from 4.2 months a year ago), and new listings jumped to 1,772, a 10.2% increase over last April. Homes are sitting on market a bit longer too, with a median of 24 days, compared to 21 days a year ago.

The sales-to-new-listings ratio landed at 36%, which by CREA's definition is clearly a buyer's market. Anything below 45% tips the scales in favour of buyers, and we're well below that threshold right now.

Average prices by area in April 2026:

• London North: $714,889 (down 0.8% from 2025)
• London South: $626,840 (down 6.6% from 2025)
• London East: $450,793 (down 13.0% from 2025)
• St. Thomas: $584,110 (up from $562,191 in March)
• Middlesex Centre: $849,725
• Strathroy-Caradoc: $656,869 (up from $590,848 in March)
• Central Elgin: $701,591

Month over month, some areas like St. Thomas and Strathroy-Caradoc actually saw meaningful price gains, a good sign that demand is alive, especially at the right price points.

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How London Stacks Up Against Other Markets

For context, here's what's happening beyond London's borders.

Greater Toronto Area (GTA): The benchmark home price in April 2026 was $944,100, down 6.6% year-over-year, with average sold prices coming in around $1,051,969. Homes are sitting on market an average of 43 days, up from 33 days a year ago. Toronto's correction continues, and buyers there are being far more cautious.

Kitchener-Waterloo Region: The KW benchmark price is sitting around $650,400, having dropped close to 8.8% annually. Average residential prices in the region have been softening since 2024, and inventory has grown significantly. The tech sector slowdown in the region has added some economic uncertainty to an already adjusting market.

London vs. the rest of Ontario: London's MLS HPI benchmark of $567,400 actually makes it one of the more affordable mid-sized markets in Ontario. Compare that to Mississauga at $958,700, Hamilton-Burlington at $737,600, or even Guelph at $729,900 and London continues to offer genuine value, especially for buyers relocating from larger centres.

Nationally: The Canadian average home price was $673,084 in March 2026, down 0.8% year-over-year. CREA has revised its 2026 forecast downward, now projecting a national average of $688,955, with virtually no price growth expected in Ontario for the rest of the year. Translation: we're in a market that rewards careful, informed decision-making, not wishful thinking.

The Bank of Canada has held its key interest rate for four consecutive times since December 2025, which has kept things relatively stable but also hasn't provided the boost to buyer activity many were hoping for.

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Pricing on Hope vs. Pricing on Facts: Why It Matters Right Now

This is the conversation I have with sellers almost every single week, and I'll be direct about it: pricing your home based on what you hope it's worth is one of the most expensive mistakes you can make in this market.

With 5 months of inventory on the London market, buyers have choices. Real choices. They're not making snap decisions or skipping conditions like they were in 2021 and 2022. They're comparing, negotiating, and walking away from anything that doesn't feel right.

When a home is overpriced, here's what actually happens: the first two weeks go by with little activity, the price drop comes, and by then buyers have already moved on. The home gets a reputation for sitting, and you end up selling for less than you would have if it had been priced correctly from the start.

The data doesn't lie. London East is down 13% year-over-year. London South is down 6.6%. London North is down 0.8%. Knowing which neighbourhood you're in and what's actually selling, not what your neighbour listed for two years ago, is how you price to sell well.

This is why working with a Realtor who will give you straight, data-driven advice matters. You deserve to know the truth about your home's value, even when it's not the number you were hoping for. A Realtor whose job is to tell you what you want to hear isn't doing their job. One who backs every recommendation with current sold data, neighbourhood trends, and honest market analysis is the one who actually gets results for you.

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What Transparency Looks Like in a Realtor Relationship

With so much information available online today, buyers and sellers are more informed than ever and that's a good thing. But data without context can actually be misleading. A 13% drop in London East doesn't mean every home in London East dropped 13%. Some streets, some property types, and some price points held up much better than others.

A transparent Realtor doesn't just hand you a printout of average prices. They sit down with you and go through recent comparable sales specific to your home or your target neighbourhood. They tell you when the market doesn't support your expectations, and they help you adjust your strategy accordingly. They communicate regularly and proactively, not just when there's good news.

Before you hire anyone to represent one of the biggest financial transactions of your life, ask them to show you the numbers. Ask them what homes actually sold for, not just listed for. Ask them how long those homes sat on market. Ask them what happened to the ones that didn't sell. That conversation will tell you a lot about the kind of Realtor you're dealing with.

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Spring Tips for Sellers in London Ontario

Spring is still the most active time of year for real estate, and even in a buyers' market there are things you can do to position yourself well.

Price it right from day one. The longer your home sits, the more leverage buyers have. Use current sold data from the past 60 to 90 days in your specific neighbourhood, not list prices and not sales from a year ago.

First impressions are doing a lot of work right now. Buyers have options, which means they can afford to be picky. Fresh paint, clean landscaping, decluttered spaces, and good photos are no longer optional extras — they're the baseline.

Get a pre-listing inspection if your home is older. In a market where buyers are more cautious and conditions are coming back into offers, being able to say "here's the inspection report, here's what we've addressed" builds confidence and reduces the chance of deals falling apart.

Stage the main living areas. You don't need to rent furniture for the whole house. Focus on the front entrance, the living room, and the primary bedroom. Those are the spaces buyers photograph in their minds as they walk through.

Be realistic about timing. Homes in London are averaging 24 days on market. Build that into your expectations and your moving plans. A well-priced, well-presented home can still sell quickly, but don't assume the first week will bring multiple offers the way it might have in 2022.

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Spring Tips for Buyers in London Ontario

This is genuinely a good time to be a buyer in London. Here's how to make the most of it.

Get pre-approved before you start seriously shopping. Not just pre-qualified — pre-approved. Knowing your exact budget and having a lender letter ready makes your offer far more credible, especially when negotiating in a market with lots of inventory.

Don't confuse a buyer's market with a free-for-all. Yes, you have more negotiating power than you did a few years ago. But well-priced, well-maintained homes in good locations are still attracting solid interest. Don't lowball a good property and lose it while trying to squeeze out another $5,000.

Pay attention to why a home has been sitting. Longer days on market can mean opportunity, but it can also mean there's something the market has already priced in. Do your homework. Look at the price history. Ask questions.

Include a home inspection condition. With 5 months of inventory in London, you have the leverage to do this. Use it. A few hundred dollars on an inspection protects you from potentially costly surprises down the road.

Think about London's neighbourhoods strategically. London North remains the premium market at $714,889 on average. London East at $450,793 offers the most accessible entry point and could represent long-term value in the right streets and property types. London South at $626,840 offers a middle ground with strong family-oriented communities.

Look at the surrounding areas too. St. Thomas and Strathroy-Caradoc both had month-over-month price gains in April, and Middlesex Centre continues to attract buyers looking for more space. These markets often offer more for your money while keeping you within reasonable commuting range of London.

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The Bottom Line for London Ontario Real Estate in Spring 2026

The London and St. Thomas market is in a period of adjustment and that's not a bad thing. It's a more balanced, more rational market than we've seen in years. Buyers have real choice. Sellers can still get strong results with the right strategy. But both sides need current, honest information to navigate it well.

If you're thinking about making a move this spring, whether that's listing your home, buying your first property, or upgrading to something that fits where your life is at right now, let's have a real conversation about what the numbers actually say for your situation.

I'm Sean Cuddy with The Realty Firm Brokerage, and I work with buyers and sellers across London, St. Thomas, and the surrounding areas. I believe in showing you the data, being straight with you about expectations, and working hard to get you the best outcome in whatever market we're in.

Reach out anytime. I'd be glad to walk you through a personalized market analysis at no cost or obligation.

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Data sourced from the London and St. Thomas Association of REALTORS (LSTAR), CREA, and the MLS Home Price Index. April 2026 statistics.