The London and St. Thomas Association of REALTORS® (LSTAR) has released its May 2025 residential market report, reflecting a market in transition amid broader economic pressures, including the ongoing impact of US tariffs.
In May, 722 homes were sold—a 15.4% decline from May 2024. Meanwhile, new listings rose 15.3% to 1,999, and active listings climbed 26.5% to 3,253, offering buyers a wider selection of properties.
“The increase in listings is encouraging for buyers,” said Dale Marsh, 2025 LSTAR Chair. “However, economic uncertainty, particularly from US tariffs, continues to influence market behavior.”
The average home price reached $656,432, up 1.4% year-over-year, signaling steady demand. Inventory levels also rose, with 4.5 months of supply, pointing to a more balanced market.
“Despite softer sales, the market remains resilient,” Marsh added. “Rising inventory and stable prices suggest opportunities for both buyers and sellers. Staying informed and adaptable is key in this evolving landscape.”
Overall, the region’s real estate market is adjusting to shifting conditions, showing signs of stability and adaptability in the face of external economic challenges.