08/06/2026
📊 July Market Update | London & St. Thomas Real Estate
The latest numbers are in, and the local real estate market continues to move toward a balanced market - creating opportunities for both buyers and sellers.
🏡 What does this mean for buyers?
With 3,367 active listings and 4.9 months of inventory, buyers have more options than they've had in years. Combined with the Bank of Canada's decision to hold its policy interest rate at 2.25%, there's greater stability in the market, allowing buyers to shop with more confidence and less urgency.
🔑 What does this mean for sellers?
While sales were slightly lower than this time last year, 686 homes still sold in July, keeping pace with the past four years. Well priced, well marketed homes continue to sell in today's balanced market. If you're thinking of listing this fall, now is the time to prepare your home and pricing strategy.
📈 July by the Numbers
• 🏠 1,543 New Listings
• 🔑 686 Homes Sold
• 💰 Average Sale Price: $603,006
• 📊 MLS® HPI Benchmark Price: $557,000
• ⚖️ Sales-to-New Listings Ratio: 44.5% (approaching a balanced market)
• 📅 4.9 Months of Inventory
With interest rates holding steady and inventory remaining historically high, many experts expect a more active fall market.
Whether you're planning to buy, sell, or simply want to understand what today's market means for your home, our team is here to help you make informed decisions every step of the way.
🏡 Oak & Key Real Estate Brokerage
Opening doors. Building relationships. Delivering results.
☎️ 226.289.5555
📧 [email protected]