Housing Sales Remain Steady in October

  In October, 557 homes changed hands via the Multiple Listing Service® (MLS®) of the London and St. Thomas Association of REALTORS® (LSTAR), nearly identical to the 561 sales in September. Although down 7.5% compared to October 2025, the sales were on par with activity recorded over the past four years.

 

“We continue to monitor the sales-to-new listings ratio, which was 39% in October, a little higher than the September sales-to-new listing ratio of 34.7%,” said Robin Tiller, LSTAR’s 2026 Chair. According to the Canadian Real Estate Association (CREA), a ratio between 45% and 65% indicates conditions of a balanced market. “We’re observing signs of a buyers’ market, so it may be an opportune time for those looking to get into the marketplace, especially with the Bank of Canada raising its policy interest rate last week.”

 

The overall average sales price across the region saw a dip to $601,289, from $611,509 recorded in September. 

 

Across London, the average sales price increased to $596,951 in October, from $591,927 in September. “London South continued to gain in average sales price, month over month, “Tiller said. “It was $620,821, up from the September average sales price of $608,872. London East also saw a healthy gain with an average sales price of $484,749, up from the average of $456,814 in September.”