Home Sales Remain Steady in April
In April, 638 homes changed hands via the Multiple Listing Service® (MLS®) of the London and St. Thomas Association of REALTORS® (LSTAR). Although down 6.6% compared to April 2025, that was an increase of 52 more units sold over the previous month.
“Inventory remains at a historically high level, with five months of inventory recorded in April” said Robin Tiller, LSTAR’s 2026 Chair. “There are plenty of options for prospective buyers, and this is reflected in the sales-to-new listings ratio, which was 36%. According to the Canadian Real Estate Association (CREA), a sales-to-new listings ratio below 45% indicates signs of a buyers’ market.”
Average sales price was $618,665 in April, down from the previous month, which was $627,112. Noticeable month over month gains in average sales price happened in St. Thomas, with average price at $584,110, up from $562,191 the previous month, as well as Strathroy-Caradoc, coming in at $656,869, up from $590,848 in March.
“The Bank of Canada held its key interest rate for the fourth consecutive time since December 2025,” Tiller said. “Whether you’re a first-time home buyer or looking to downsize, your local REALTOR® can help you navigate through the evolving marketplace.”
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.
“In April, home sales generated potentially more than $79 million,” Tiller said. “It’s integral to the larger economy, and this is why we continue to advocate for policy solutions that help with affordability challenges, such as the recent HST rebate announcement.”
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
