June 2026 London Ontario Real Estate Market Update: What It Means for Oakridge

London's market cooled off in June while Oakridge held firm. Here's the full breakdown, and what it means if you're thinking about buying or selling this summer.

June 2026 at a Glance: London vs. Oakridge

Metric	London (City-Wide)	Oakridge
Average Price	$594,008 (-7.1% MoM, -8.2% YoY)	$715,753 (-7.2% MoM, +5.9% YoY)
Median Price	$550,000 (-5.2% MoM)	$664,000 (-4.9% MoM, +6.0% YoY)
Sales Volume	501 (-7.7% MoM)	35 (flat MoM, +6.1% YoY)
Median Days on Market	24	19 (down from 27 in May)
Avg. Sale Price / List Price	97.9%	97.8%
Homes Sold Above List	18.6%	22.9% (up from 17.1% in May)
Terminations	529 (+30.6% MoM)	27 (+42.1% MoM)

What Happened in the London Ontario Real Estate Market in June 2026?

London's average sale price dropped to $594,008 in June, down 7.1% from May and 8.2% from June of last year. Days on market stretched to 39 on average, up from 33 the month before.

The slowdown lines up with what's been building all year. Inventory has grown steadily, which has put more negotiating power in buyers' hands across the city, and June's numbers reflect that shift playing out in real time. Sales volume dipped to 501 transactions, down almost 8% from May, and terminations jumped over 30%, a sign that more sellers listed at prices the market wasn't ready to support and pulled back rather than negotiate down.

None of this is unique to London. The broader Ontario picture has looked similar for months, with buyers gaining room to negotiate as supply builds and prices hold flat rather than climbing or crashing. London is moving with that current, not against it.

How Did Oakridge Perform Compared to the Rest of London?

Oakridge told a different story. Thirty-five homes sold in June, matching May's pace, and the average price landed at $715,753. That's down slightly from May but still up 5.9% from June of last year, which is the opposite direction of the citywide trend.

The clearest signal is speed. The median days on market in Oakridge dropped to 19, down from 27 in May, while London as a whole slowed to a 39-day average. Homes here are still moving quickly even as the wider market takes longer to close deals. Detached homes led the way with 19 sales at an average of $867,548, and condo townhouses saw steady activity too with 7 sales averaging $549,564.

We've also seen multiple offer situations on homes in and around the neighbourhood this month. That tracks with the data: 22.9% of Oakridge homes sold above asking in June, up from 17.1% in May, well ahead of the citywide rate of 18.6%. Summer tends to pull some buyer and seller attention toward vacation plans, but homes are still being listed and still selling here, often quickly and sometimes with competition.

For a closer look at the neighbourhood, see our Oakridge neighbourhood guide.

Is Now a Good Time to Sell in Oakridge?

If your home is priced right, yes. The combination of a 19-day median time on market and a rising share of over-asking sales points to genuine buyer demand for well-positioned Oakridge listings, even while the rest of the city slows down.

The termination numbers are worth paying attention to as well. Twenty-seven Oakridge listings were pulled from the market in June, up sharply from 19 in May. That usually points to homes priced ahead of what buyers are willing to pay, not a lack of buyers altogether. The homes actually selling here are selling fast and often above list, which tells you demand hasn't gone anywhere, it's just unforgiving of overpricing.

Summer brings a natural dip in urgency since some buyers and sellers are focused on travel rather than house hunting. That hasn't stopped serious activity in Oakridge this month, and homes that are priced to the current market are still finding multiple interested buyers.

Thinking about selling nearby? Take a look at our West London neighbourhood guide.

Is Now a Good Time to Buy in Oakridge?

It depends on what you're looking for. Buyers citywide have more room to negotiate than they've had in years, and borrowing costs have stayed steady rather than climbing, with the Bank of Canada holding its policy rate at 2.25% through its June announcement. That stability, combined with rising inventory, is real leverage for buyers in most of London.

In Oakridge specifically, that leverage is thinner. With homes moving in a median of 19 days and nearly a quarter selling above asking, buyers here should expect to move decisively on the right property rather than count on a long negotiation window. The upside is that Oakridge has held its value better than the city average, so buying here now means buying into a pocket of the market that isn't following the broader softening trend.

Buyers weighing nearby areas may also want to read our Whitehills neighbourhood guide.

What Does the Rise in Terminations Mean?

Terminations climbed both citywide (up 30.6%) and in Oakridge (up 42.1%) in June. A termination means a listing was pulled from the market rather than sold, and a rising termination rate is usually a sign that more sellers tested the market at an ambitious price and then stepped back rather than negotiate.

The difference is what happens to the homes that don't get pulled. Citywide, the homes that do sell are taking longer to do it. In Oakridge, the homes that are priced to the current market are still selling in under three weeks, often with competition. The lesson for sellers is the same one it always is: an accurate price gets results, an ambitious one gets a termination.

For more context on where the market stood the month before, see our May 2026 London Ontario Real Estate Market Update.