Housing Sales Pick Up In September

London, ON – In September, 561 homes changed hands via the Multiple Listing Service® (MLS®) of the London and St. Thomas Association of REALTORS® (LSTAR), up 5.3% compared to September 2025 and up from the previous month, which recorded 526 sales.

“The average sales price saw a jump to $611,509, from $590,550 recorded in August,” said Robin Tiller, LSTAR’s 2026 Chair. “Notably, London South and London North experienced the biggest gains in average sales price, month over month. In London South, the September average sales price was $608,872, up from the August average sales price of $567,783. In London North, the September average sales price was $704,858, up from the previous month, which was $668,345.”

The September sales-to-new listings ratio was 34.7%, down from August, which came in at 37.5%. According to the Canadian Real Estate Association (CREA), a ratio between 45% and 65% indicates conditions of a balanced market.

“The marketplace continued to show signs of a buyers’ market,” Tiller said. “With interest rates holding steady and 5.9 months of inventory, it may be an opportune time for those looking to enter the market. Your local REALTOR® is the best resource to help you navigate through the marketplace with real-time data and professional expertise.”

The table below displays September’s average prices and MLS® HPI Benchmark Prices in LSTAR’s main regions.

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 September’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.

The table below shows the most recent HPI benchmark prices across the country, courtesy of CREA.

According to a 2025 study  by Altus Group, the average housing transaction in Ontario generated approximately $124,200 in spin-off spending per transaction, between 2022 to 2024. These include such expenses as legal fees, appraisers, moving costs, new appliances, and home renovation expenses.

“That means the home sales in September potentially generated more than $69 million into the local economy,” Tiller said. “We cannot stress how important the business of real estate is as an economic engine to the region, and we’ll continue to advocate for policy solutions that create paths to home ownership for more and more Canadians.”

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.

Download the full report here.

The London and St. Thomas Association of REALTORS® (LSTAR) exists to provide its REALTOR® Members with the support and tools they need to succeed in their profession. Since 1936, and for 90 years, LSTAR has grown alongside the communities we serve, shaped by the dedication of our Members and the changing real estate landscape. As one of Canada’s largest real estate associations, LSTAR serves and represents nearly 2,200 REALTORS® who are working in Middlesex and Elgin Counties, a trading area of more than 500,000 residents. LSTAR adheres to a Quality of Life philosophy supporting growth that fosters economic vitality and is a proud participant in the Ontario REALTORS Care® Foundation’s “Every REALTOR® Campaign”. LSTAR provides housing opportunities, respects the environment, and builds good communities and safe neighbourhoods. Join us as we celebrate 90 Years of LSTAR here www.lstar.ca/90.