Encouraging Marketplace Activity in December
In December, 398 homes exchanged hands via the MLS® (Multiple Listing Service) System of the London and St. Thomas Association of REALTORS® (LSTAR). That was up 0.8%, compared to the same month a year ago, and marked the best December since 2021. Overall, 6,938 homes were sold in 2025, down 5.0% from 2024.
“Interestingly, the sales-to-new listings ratio showed quite a rebound in December,” said Dale Marsh, 2025 LSTAR Chair. “It was 71.6, noticeably higher than November, which was 49.5. According to the Canadian Real Estate Association (CREA), a sales-to-new listing ratio between 45% and 65% indicates conditions of a balanced market. December activity started to show signs of the conditions consistent with a sellers’ market. December’s 71.6 sales-to-new listings ratio was the highest recorded in 2025.”
Average sales price posted an increase from the previous month as well. It was $614,104 in December, down 3.4% compared to the same time in 2024. In November, average sales price was $604,994.
“Inventory continues to remain at a historical high level,” Marsh said. “There were 5.4 months of inventory in December, that’s more than the 4.6 months of inventory recorded in December 2024. With inventory and the fluctuating sales-to-new listings ratio, your local REALTOR® can help you navigate the marketplace, if you’re considering to buy or sell a home.”
The HPI benchmark price reflects the value of a “typical home” as assigned by buyers in a certain area based on various housing attributes, while the average sales price is calculated by adding all the sale prices for homes sold and dividing that total by the number of homes sold. The HPI benchmark price is helpful to gauge trends over time since averages may fluctuate by changes in the mix of sales activity from one month to the next.
According to the latest study1 by Altus Group, an average housing transaction in Ontario generated an average of $124,200 in spin-off spending per transaction from 2022 to 2024. These expenses include legal fees, appraisers, moving costs, new appliances, and home renovation expenses.
“Based on December sales, that means more than $49 million was potentially generated in spin-off spending,” Marsh said.
Employment resulting from home sales is also significant, according to the Altus study. Resale housing activity created an estimated 117,610 jobs annually in Ontario from 2022 to 2024. Jobs include manufacturing, construction, skilled trades, finance, and insurance.
1_Economic Benefits Generated by Home Sales and Purchases Over MLS® Systems Across Canada_, Altus Group, 2025.
Board & Association Information
The London and St. Thomas Association of REALTORS® (LSTAR) is one of Canada’s largest real estate associations, representing over 2,300 REALTORS® from London, St. Thomas, Strathroy, Middlesex County, & Elgin County. Guided by a ten-member Board of Directors and administered by a team of professional staff specialists, LSTAR strives to deliver excellent service to its Members, including not only its core service, the MLS® system, but also Arbitration, Education, Professional Standards, Communications, and Government and Community Relations. It is nationally recognized as a leader in technological innovation, political action and community service. As members of the Canadian Real Estate Association, LSTAR members may use the REALTOR® trademark, which identifies them as real estate professionals governed by a high standard of professional service and a strict Code of Ethics, committed to providing the best possible service to their clients and customers. The Association operates the local Multiple Listing Service® (MLS®), a co-operative marketing system used only by Canada’s real estate boards to ensure maximum exposure of properties for sale. Advertisements of local MLS® property listings and information about the services provided by a REALTOR® can be found at www.REALTOR.ca. More information about LSTAR is available at www.lstar.ca
LONDON & ST. THOMAS ASSOCIATION OF REALTORS®
For more information,
please contact:
(519) 641-1400
info@lstar.ca
Dale Marsh
