London Ontario Real Estate Market Report — February 2026
410 homes sold in February across London and St. Thomas. Prices are down year-over-year, inventory is at its highest since 2016, and buyers have more room to negotiate than they've had in years. Here's what the numbers actually mean if you're thinking about buying or selling right now.
What February's numbers actually mean
February 2026 was a continuation of the shift that started in mid-2023. More homes on the market, fewer buyers making moves, and sellers who need to be realistic about what buyers are willing to pay. That said, London isn't crashing — average prices are down 3% year-over-year, not 20%. This is a market correction, not a collapse.
If you're thinking about selling
Pricing matters more than it has in years. With 5.3 months of inventory, buyers have options. Homes that are priced accurately and presented well are still selling — but homes that come out too high are sitting. The days of listing at any price and waiting for offers are gone. You need a strategy, not just a sign in the yard.
If you're thinking about buying
This is the most negotiating room buyers have had since 2016. Sale-to-list price ratio is 97.4% — that means buyers are regularly getting homes for less than asking. With interest rates having come off their peak and prices softer than two years ago, your purchasing power is better than it looks on paper. The risk is waiting too long for a floor that may already be in.
The key numbers at a glance
Source: LSTAR / Canadian MLS® Systems, CREA. London-only data. London & St. Thomas combined figures may differ slightly.
How prices break down by property type
Not every property type is moving the same way. Single-family homes are holding value better than apartments, and the condo/apartment segment is seeing the most inventory pressure of any category.
⚠ The apartment segment shows 8.6 months of inventory — the deepest buyer's market conditions of any property type. Sellers in this segment face the most pricing pressure.
How February 2026 compares to recent years
Where does London sit right now?
What buyers and sellers are asking right now
More questions about the London market
What does this market mean for your home?
Numbers are useful. A conversation about your specific home, neighbourhood, and timeline is more useful. Eric gives you an honest read — no pressure, no obligation.