London Real Estate Statistics (2026)

London, Ontario, has become one of the most closely watched housing markets in Canada over the last decade. Historically, it has been considered one of the more affordable cities in Ontario, but it experienced rapid house price growth during the pandemic years as buyers sought alternative options to Toronto and other traditionally expensive markets. 

Since the peak of 2022, prices in London have declined somewhat, and the number of available homes has improved substantially. Despite changes to the market conditions, London remains one of the largest and most active housing markets in Ontario, supported by population growth, healthcare employment, a strong education sector, and relative affordability compared to the Greater Toronto Area (GTA). 

London Real Estate Statistics for Canadians

• In the 2021 Census, the City of London, Ontario, had a population of around 422,300 residents. 
• London’s population grew by around 10% between the 2016 and 2021 Censuses. 
• At the end of 2025, the average home cost around $620,000 in the London-St. Thomas region. 
• Residential property prices were around 4-5% lower in London compared to the year before. 
• Single-family homes averaged approximately $621,700 in April 2026, townhouses  $449,100, and condominiums $328,500. 
• Over 8,000 residential properties were sold across the London–St. Thomas region during 2025. 
• Throughout 2025, the number of available homes increased, contributing to a more balanced market by the end of the year. 
• Average home prices in London are around 35% lower than in the GTA.  
• London’s benchmark prices are around 47% higher than they were in 2019. 
• London’s housing market conditions have shifted from a seller’s market in 2021-2022 to a more balanced one in 2026. 

London Housing Market Overview

London is one of the largest cities in Ontario and serves as the economic centre for Southwestern Ontario. It is located approximately halfway between Toronto and Detroit on the other side of the border, and it is a major transportation, healthcare, and education hub, offering residents a combination of relatively affordable homes, urban amenities, and extensive parks and recreational opportunities. 

According to Statistics Canada, London’s population was over 422,000 residents in the 2021 Census, showing approximately 10% growth since the 2016 Census. More recent estimates place the population of London at approximately 455,000-465,000 residents, which reflects continued strong growth driven by both immigration and interprovincial migration. 

London’s economy is supported by education, healthcare, manufacturing, financial services, technology, and research industries. Major employers in the city include hospitals, universities, colleges, and manufacturing companies. 

Housing demand in the area increased sharply during the pandemic years as buyers relocated from more expensive Ontario housing markets. Although market activity has somewhat moderated since the pandemic and following higher interest rates, London’s housing market continues to benefit from strong natural population growth, immigration, and a reputation as one of the leading regional centres in Ontario. 

London House Prices

The average home price in the London–St. Thomas market, which covers London and the surrounding communities served by the local real estate board, was around $618,665 in April 2026. This was around 4.9% lower than in April 2025. 

The MLS® Home Price Index benchmark price, measuring the value of a typical home, was approximately $567,400 during the same month. This was also around 4% lower than one year earlier, but had increased somewhat over the previous three months, which suggests that prices in the region might be stabilising. 

In April 2026, the average prices by property type were:

• Detached homes: $677,292
• Townhouses: $479,810
• Condominiums: $297,458

Benchmark prices by property type were:

• Single-family homes: $621,700
• Townhouses: $449,100
• Condominiums: $328,500

The average home price shows the mean sale price of all homes sold, while the benchmark price measures the value of a typical home whilst accounting for differences in the types of properties sold. 

During the pandemic years of 2020-2022, London experienced some of the strongest home price growth in Canada. Although prices have since moderated, they remain considerably higher than before the pandemic. Before the pandemic peak, the average home price in the region was approximately $450,000, which highlights the substantial home price increases in the area. 

London Real Estate Sales

Sales activity in London has slowed significantly compared with the housing boom experienced during the pandemic. In 2025, the London-St. Thomas housing market recorded around 8,000 residential home sales, reflecting more subdued market conditions. 

In April 2026, 638 residential properties were sold through the region’s association of realtors, representing a 6.6% decrease compared to April 2025. Of those sales, 470 were detached homes, 105 were townhouses, and 40 were condominiums. 

Year-to-date sales activity in 2026 so far is around 7% lower than it was last year. While sales volumes have declined considerably from the record-breaking years of 2020 and 2021, housing market activity has begun to stabilise as buyers adjust to the current borrowing costs. London’s strong natural population growth, diversified economy, and relatively affordable housing compared to many larger cities in Ontario continue to provide support for housing demand in the region. 

Housing Supply in London

Housing availability in London has improved substantially since the market peak. At the end of April 2026, there were 3,175 homes for sale across the London–St. Thomas market, up 11.8% compared to April 2025. 

During April 2026, 1,772 properties were listed for sale, representing a 10.2% increase year-over-year. Months of supply reached 5 months, compared to 0.6 months seen during the pandemic peak in 2021. The sales-to-new-listings ratio was approximately 36%, which is generally considered a balanced or buyer-friendly market condition. 

The increased number of homes available for purchase has given buyers more negotiating power than they had several years ago. This has contributed to more balanced market conditions and moderated the pace of house price growth. 

London Condo Market Statistics

In London, condominiums account for a relatively small share of the housing market compared with many larger Canadian cities. During April 2026, the average condominium sold for around $297,500, while the benchmark price for condominiums was approximately $328,500. 

Condominium prices have experienced a larger correction than detached homes, with benchmark prices declining by approximately 15.1% compared to the year before. Condominiums offer a more affordable pathway into homeownership in London and attract first-time buyers, downsizers, and investors alike. 

Homeownership in London

London’s homeownership rate is close to the national average. According to the 2021 Census, London had a homeownership rate of 67%, while the Canadian average was 66.5%. 

London has a similar homeownership rate to Ottawa (66%), Toronto (66%), and Hamilton (59%), but lower than Mississauga (73%), Brampton (76%), and Surrey (73%). It has a higher owner-occupier rate than cities such as Montreal (41%) and Vancouver (48%).

In London, as in most Canadian cities, homeownership rates increase with age and income, with couples and families more likely to own homes than single individuals. London’s relatively affordable homes have made homeownership more accessible than in many larger housing markets in Ontario, although rising prices have affected that advantage in recent years. 

London Housing Affordability

Although home prices have eased in London from their 2022 peak, they remain considerably higher than before the pandemic, with average prices approximately 47% higher than in 2019. 

Even though London’s median household income is below the level typically required to purchase an average detached home comfortably, average house prices are lower in London than in many larger cities in Ontario. In April 2026, the average home cost around $619,000 in London, when the average home prices in major Ontario housing markets were approximately: 

• Toronto: $962,300
• Mississauga: $1.02 million
• Brampton: $990,000
• Hamilton: $780,000

London’s relatively affordable prices make homeownership more attainable and continue to attract buyers relocating from the GTA. This supports long-term demand for homes in the area despite higher borrowing costs. 

London Real Estate Forecast

Most real estate analysts expect London’s housing market to stay broadly balanced for the remainder of 2026. The number of available homes has increased significantly, while sales have remained relatively subdued. Together, these factors are expected to keep price growth moderate. 

Continued natural population growth, immigration, and the prospect of lower interest on mortgages are expected to support demand over the coming years. At the same time, the improved availability should continue to provide buyers with increased choice and stronger negotiating power.