10/09/2026
I just read through LSTAR’s latest update, “Housing Sales Pick Up in September,” and the headline sounds pretty encouraging… but there’s more to it than just the headline.
And sales did pick up. But before anyone adds $20,000 to their asking price, let’s chat about the rest of the numbers.
561 homes sold across our area, compared to 526 in August. That’s also up 5.3% from September 2025.
The average sale price went up too, from $590,550 in August to $611,509 in September.
So that’s good news, right? Yeahhh, but there’s a bit more to it.
For every 100 new listings that came to market in September, there were about 35 sales. In August, that number was around 38.
So while yes, more homes sold, new listings still outpaced sales. Buyers continue to have TONS of options.
And the higher average doesn’t mean everyone’s house all of a sudden became worth $21,000 more.
From what I’m seeing, some move-up buyers who sold their starter homes last month were able to make their next purchase. Those purchases can bring the average up without prices actually increasing.
We’re still not seeing much movement in the higher-priced homes.
And there’s the local economy to consider. London’s unemployment rate climbed to 8.5% in August, compared to 6.1% a year ago 😬
That matters. When people are worried about their jobs, taking on a bigger mortgage isn’t usually at the top of their ‘to-do’ list.
There’s also the possibility of interest rates going up again. If that happens, higher mortgage payments could mean buyers have to lower their budget or put their plans on hold.
So yes, buyers are out there and homes are selling. But one better month doesn’t mean the things making buyers cautious have suddenly disappeared.
Getting buyers through the door is still the first step. It’s hard to negotiate with someone who never booked a showing.
If you’re thinking about selling this fall, have a read through the LSTAR update. It’s encouraging to see more sales, but your listing price still needs to reflect what similar homes are selling for and what else buyers have to choose from.
We are one of the largest Real Estate Boards in Canada with a membership of approximately 2,300 Brokers and Salespersons working out of 200 offices.