The London-St. Thomas region experienced steady home sales in April, with average prices experiencing a slight dip, according to the London and St. Thomas Association of Realtors (LSTAR).
Market Highlights
In April, the region recorded a total of 1,012 home sales, virtually unchanged compared to the same month last year. This stability indicates a balanced market, with supply and demand remaining consistent.
The average home price in the area fell to $689,000, down 2.1% from $704,000 in April 2025. This decline was largely driven by a shift in the mix of properties sold, with more affordable homes making up a larger share of transactions.
Price Trends by Home Type
- Single-family homes: Average price of $765,000, down 1.8% year-over-year.
- Townhouses: Average price of $550,000, down 0.9%.
- Condo apartments: Average price of $420,000, down 3.4%.
Despite the slight price dip, the market remains active, with homes spending an average of 28 days on the market, similar to last year.
Inventory Levels
New listings in April totaled 1,450, a 5% increase from April 2025. This has helped boost inventory levels, providing more options for buyers. The months of inventory, a key measure of supply, stood at 2.1 months, indicating a seller's market but with a slight easing from previous months.
"The market is showing signs of stabilization after a period of rapid price growth," said a spokesperson for LSTAR. "Buyers are benefiting from more choices and slightly lower prices, while sellers continue to see strong demand for well-priced properties."
Regional Variations
While the overall market was steady, some areas performed differently. In London East, sales rose by 3%, while St. Thomas saw a 2% decline. The average price in London East was $650,000, compared to $620,000 in St. Thomas.
Outlook
Real estate experts predict that the market will remain balanced in the coming months, with moderate price growth expected as the spring season continues. However, interest rate changes and economic conditions could influence future trends.
"We anticipate a healthy market through the summer, with steady sales and modest price appreciation," added the LSTAR spokesperson. "Buyers and sellers should work with a local real estate professional to navigate the current conditions."
