The London and St. Thomas Association of REALTORS (LSTAR) reports sales across London, St. Thomas and the surrounding parts of Middlesex and Elgin counties. Its news release leads with the average sale price across all LSTAR regions, and the monthly market report CREA prepares for the board adds MLS® HPI benchmarks by home type and a breakdown for every district, from London’s East, North and South to St. Thomas and the small towns. This page covers September 2026, released in October 2026. The Canadian housing market overview explains how averages and benchmarks differ.
London and St. Thomas home prices, September 2026
| Home type | MLS HPI benchmark | 1-year change | 5-year change |
|---|---|---|---|
| Composite | $552,500 | -2.6% | -9.0% |
| Single family | $600,700 | -3.0% | -9.7% |
| One-storey bungalow | $541,300 | -0.5% | -8.0% |
| Two-storey home | $648,100 | -4.9% | -10.4% |
| Townhouse | $421,500 | -10.0% | -17.1% |
| Apartment | $317,100 | -9.6% | -12.6% |
LSTAR market report prepared by CREA, September 2026.
The composite benchmark is below where it was five years ago. Townhouses and apartments have fallen furthest over the year, while the one-storey bungalow benchmark barely moved. LSTAR’s average sale price across its regions was $611,509, a -1.9% change on a year earlier, and the median sale $560,000 (-4.3%).
| Home type | Sales | Average price | Change |
|---|---|---|---|
| Single family | 442 | $654,008 | -0.3% |
| Townhouse | 74 | $480,637 | -9.7% |
| Apartment | 30 | $312,553 | -7.7% |
Prices by district
| Area | Benchmark | 1-year change | Average sale | Change |
|---|---|---|---|---|
| London East | $432,300 | -1.1% | $456,814 | -9.3% |
| London North | $613,000 | -3.4% | $704,858 | 2.8% |
| London South | $550,400 | -2.7% | $608,872 | -4.1% |
| St. Thomas | $496,800 | -6.5% | $544,865 | -2.5% |
Of the three London districts in the report, London North is the priciest on both measures, and its typical home costs 42% more than one in London East. St. Thomas had a benchmark 10% below the board-wide composite. The City of London alone recorded 381 of the board’s 561 sales, at an average of $591,927.
Sales, listings and market balance
| Measure | September 2026 | Change or a year earlier |
|---|---|---|
| Sales | 561 | 5.3% |
| New listings | 1,615 | -5.1% |
| Active listings | 3,335 | 3.1% |
| Sales-to-new-listings ratio | 34.7% | 31.3% |
| Months of inventory | 5.9 | 6.1 |
| Median days on market | 34 | 29 |
The report computes its ratio as sales divided by new listings (561 / 1,615 = 34.7%) and months of inventory as active listings over sales (5.9). A ratio of 34.7% is below the 45% floor of the range CREA treats as balanced, while inventory stayed below CREA’s 6.4-month buyer’s-market line (how to read both). Homes took a median 34 days to sell.
Buying costs at the benchmark
The composite benchmark needs a minimum down payment of $30,250 (5.5%), and the insured mortgage that goes with it carries a default-insurance premium near $20,890 (4.00% of the loan).
London has no municipal transfer tax. The provincial one on a benchmark home is $7,525, or $3,525 after a first-time buyer’s refund of up to $4,000. The Ontario calculator works out other prices.
The City of London’s 2026 total residential rate is 1.727111%, the general city rate plus education, which is $1,727 a year for every $100,000 of MPAC assessment (assessments are still at January 1, 2016 values). London’s tax on the BMA Municipal Study’s sample detached bungalow (2025, from the City of Barrie’s comparison table) was $4,685 in London, against $3,968 down the 401 in Windsor.
Income needed against London incomes
At the composite benchmark, a household needs about $126,200 of income with minimum down, or $109,800 with 20%; at the all-types average of $611,509 the minimum-down figure is $138,600 (how it’s worked out). In the 2021 Census, London-area households (the census metropolitan area) had a median income of $79,500 for 2020, 13% below the Ontario median. The benchmark’s income requirement is 1.6 times that local median, and an LSTAR apartment at the benchmark price would need about $74,700.
Related pages
Sources
The figures and rules on this page come from these sources, last checked against them between September 24, 2026 and October 25, 2026. How we check facts.
- Bank of Canada: Mortgage rates, fixed 5 years and over: insured residential mortgages, funds advanced (data series)
- Bank of Canada: Mortgage rates, fixed 5 years and over: uninsured residential mortgages, funds advanced (data series)
- barrie.ca: How Barrie Taxes Compare | City of Barrie
- City of Toronto: Property Assessment & Appeals – City of Toronto
- CMHC: CMHC Purchase
- CMHC: Home Start
- CMHC: Calculating GDS / TDS
- CREA: CREA Stats (local board market statistics)
- CREA: En ca
- Department of Finance Canada: Boldest mortgage reforms in decades come into force today
- Department of Finance Canada: Archived
- Department of Finance Canada: Government announces boldest mortgage reforms in decades to unlock homeownership for…
- Department of Finance Canada: “Straight Switches” and portfolio insurance
- Financial Consumer Agency of Canada: How much you need for a down payment
- GlobeNewswire: Canadian Home Sales Slide Down Slightly in August
- Government of Ontario: Land Transfer Tax Refunds for First-Time Homebuyers | Land Transfer Tax
- Government of Ontario: Calculating Land Transfer Tax | Land Transfer Tax
- Justice Laws (Canada): Bank Act
- London and St. Thomas Association of REALTORS®: London and St. Thomas
- London and St. Thomas Association of REALTORS®: London and St. Thomas Association of REALTORS®
- london.ca: CITY OF LONDON 2026
- OSFI: Minimum qualifying rate for uninsured mortgages
- OSFI: Final Revised Guideline B-20: Residential Mortgage Underwriting Practices and Procedures
- OSFI: Amendments to the minimum qualifying rate for uninsured mortgages
- OSFI: OSFI exempts uninsured mortgage straight switches from the prescribed MQR and…
- OSFI: Loan-to-income limits for uninsured mortgage portfolios
- Statistics Canada: Household income statistics by dwelling and household characteristics: Canada,…