04/07/2026
The state of the market in the London & St. Thomas Real Estate Board region continues to favour buyers. Prices are stable and volumes remain historically low.
Here are some contextual market numbers...
Over the last decade, the average number of March sales was 866; March 2026 was 586 - 33% lower than the average.
There are 2,759 active listings as at the end of March, the highest number of listings in March in the last 10 years.
There is 4.7 months of inventory as at the end of March, the highest inventory of homes in March in the last 10 years.
The average price in March was $627,112. Pricing has been relatively stable for the last 3 years, and is back to 2021 levels.
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Resale Home Buyers: Plenty of Choice/ Pricing is Stable
Buyers are definitely holding the power, but only for houses that have been sitting on the market. Buyers requiring conditions of the sale of homes are not in as strong position. Being able to buy without the condition of a home sale is a considerably more powerful posiiton to be in. If you have a house to sell prior to firming up a purchase, its best to get that house ready for market and preferably on the market prior to actively offering on a replacement home.
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Home Sellers: Declutter/ Repair/ Stage/ Price Competitively
Its a very competitive market. You should expect home inspection conditions, finance conditions, sale of home conditions - in summary, very careful buyers. In this market, sellers are going to think they sold too low, and buyers will think they overpaid. No one is confident in what the future holds, so everyone second guesses themselves.
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New Construction: Sales Tax Lifeline
In the recent provincial budget, the province matched the federal government in offering rebates of HST on all new home sales. We've already seen this impact the sales of new homes. This was a desperate market in need of incentification. There was considerable built up inventory of new homes, and enormous capacity to ramp up construction if buyers return.
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Iran/ Ukraine/ Oil/ CUSMA/ 2026 US Midterms/ Liberal Majority?
Everyday since January 2025 the world has gotten less certain. The impact and effect on the Canadian economy has been harder and harder to predict. Inflation, interest rates, bond markets and economic forecasts have become increasingly difficult to predict. A year ago we were waiting for a return to normality - now we wonder whether a return to normal is even possible. These are uncertain and difficult times. That uncertainty will continue to have an outsized impact on the real estate market in Canada for the foreseeable future.
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Everyday in the month of March about 20 people decided to buy and sell a home. Even though volumes are lower, people continue to get on with their lives, secure mortgages, and prioritize the changing needs of their families. You're buying and selling in a market that is very stable from a pricing perspective. The London region pricing is averaging in the low 600's and has been for 3 years. You do need to be careful and measured in the steps you take in this market. We're here to help. You need honest, knowledgeable support from a team of agents that work together to best serve your needs.
If you're considering a move this year or next, its time to start talking now. It takes time to prep, market and sell a home. The best time to start working on a plan is today.
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A Team London | BLUE Forest Realty Inc., Brokerage
