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 table below displays April’s average prices and MLS® HPI Benchmark Prices in LSTAR’s main regions.
| Area | April 2026 MLS® HPI Benchmark Price | April 2026 Average Price |
|---|---|---|
| Central Elgin | $662,900 | $701,591 |
| London East | $443,200 | $450,793 |
| London North | $629,100 | $714,889 |
| London South | $565,200 | $626,840 |
| Middlesex Centre | $776,100 | $849,725 |
| St. Thomas | $525,300 | $584,110 |
| Strathroy-Caradoc | $736,500 | $656,869 |
| LSTAR | $567,400 | $618,665 |
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.
The following table displays April’s benchmark prices for all housing types within LSTAR’s jurisdiction and shows how they compare with those recorded in the previous month and three months ago.
| MLS® Home Price Index Benchmark Prices | |||
|---|---|---|---|
| Benchmark Type | April 2026 | Change Over March 2026 | Change Over January 2026 |
| LSTAR Composite | $567,400 | ↑0.8% | ↑1.7% |
| LSTAR Single-Family | $621,700 | ↑0.7% | ↑1.3% |
| LSTAR One Storey | $563,000 | ↑1.8% | ↑3.1% |
| LSTAR Two Storey | $669,300 | 0.0% | 0.0% |
| LSTAR Townhouse | $449,100 | ↓0.9% | ↑0.2% |
| LSTAR Apartment | $328,500 | ↑2.0% | ↑0.6% |
The chart below shows the most recent HPI benchmark prices across the country, courtesy of CREA.
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.
1Economic Benefits Generated by Home Sales and Purchases Over MLS® Systems Across Canada, Altus Group, 2025.
SOURCE, LSTAR
To learn more, visit LSTAR LONDON ST. THOMAS ASSOCIATION OF REALTORS®
