October recorded fewer sales than a year earlier, while active listings remained higher and the MLS® HPI benchmark fell. With 5.8 months of inventory and a 39.0% sales-to-new-listings ratio, buyers had a wider range of options and sellers continued to face pricing competition.
The ratio moved lower year over year, with 557 sales recorded against 1,429 new listings.
Months of inventory rose to 5.8, compared with 5.2 in October 2025. Active listings reached 3,247, up 3.3% year over year.
The October average sale price was $601,289, down 0.6% from October 2025. The median sale price was $557,000, down 0.8%. The composite benchmark was $538,000, down 6.6% year over year.
| Metric | October 2026 | Compared to October 2025 |
|---|---|---|
| Sales Activity | 557 | Down 7.5% |
| Dollar Volume | $334,918,106 | Down 8.1% |
| New Listings | 1,429 | Down 1.9% |
| Active Listings | 3,247 | Up 3.3% |
| Sales-to-New-Listings Ratio | 39.0% | 41.3% in October 2025 |
| Months of Inventory | 5.8 | 5.2 in October 2025 |
| Average Price | $601,289 | Down 0.6% |
| Median Price | $557,000 | Down 0.8% |
| Sale-to-List Price Ratio | 96.8% | 97.1% in October 2025 |
| Median Days on Market | 29 | 29 in October 2025 |
Average price reflects homes sold during October. Benchmark price is the MLS® HPI estimate for a typical home in that area where available.
| Area | Sales | Average Price | Benchmark Price | Months of Inventory | Median DOM |
|---|---|---|---|---|---|
| London Overall | 380 | $596,951 | $525,900 | 5.6 | 28.5 |
| North London | 116 | $655,236 | $597,300 | 5.8 | 26 |
| South London | 168 | $620,821 | $542,300 | 5.2 | 29 |
| East London | 96 | $484,749 | $425,000 | 6.2 | 31.5 |
| St. Thomas | 51 | $513,697 | $490,400 | 4.6 | 23 |
| Strathroy-Caradoc | 22 | $569,023 | $721,200 | 6.4 | 32.5 |
| Middlesex Centre | 19 | $773,836 | $736,300 | 7.5 | 52 |
| Central Elgin | 19 | $586,868 | $629,000 | 5.2 | 36 |
The benchmark price is designed to track the value of a typical home and can be useful alongside monthly average prices, which can move with the mix of homes sold.
The national MLS® HPI composite benchmark price was $649,900 in October 2026, compared with $538,000 in London and St. Thomas. The local benchmark was $111,900 lower (17.2%) than the Canadian benchmark. Unlike the average sale price, a benchmark estimates the value of a typical home.
Selected Canadian real estate markets, ordered from highest to lowest benchmark price. Canada and London & St. Thomas are highlighted.
Source: Canadian Real Estate Association (CREA), MLS® Home Price Index (HPI) Benchmark Price Comparison, October 2026, using the supplied national comparison chart. Market coverage is selective, not an exhaustive list of all Canadian markets. These are benchmark prices, not average sale prices.
October sales were 7.5% below the same month last year, while active inventory increased 3.3%. The average price eased 0.6% year over year and the composite benchmark declined 6.6%. Market conditions remain specific to the neighbourhood, property type and price segment, making current comparable sales particularly important.
Source: London and St. Thomas Association of REALTORS®, Canadian Real Estate Association, MLS® Residential Market Activity and MLS® Home Price Index Report, October 2026. Report data may be revised in subsequent months.
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