The Multiple Listing Service® (MLS®) of the London and St. Thomas Association of REALTORS® saw 341 homes change hands in January, down 10.3% compared to the same month a year ago. The average sale price was $624,550 which represents an increase of over $10,000 from December and is down just 0.6 % from January of 2025.
“The sales-to-new listings ratio dropped substantially in January, to 32.2,” said Robin Tiller, LSTAR’s 2026 Chair. “That is noticeably lower than December’s ratio of 71.6. This would indicate conditions of a buyers’ market, according to the Canadian Real Estate Association (CREA), but aligns with expected numbers for a typical January market.”
“Inventory continues to remain at a historically high level,” Tiller continued, “with 6.6 months of inventory in January, up from the 5.3 months recorded in January of 2025. This represents the most active listings we have seen in the last ten years. This is another indication of a buyer's market and another good reason to reach out to your local REALTOR® for advice on buying or selling.”
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