TL;DR
- London sold 380 homes in October 2026 at a median sale price of $553,164, up 3.2% from September and down 2.1% from October 2025.
- Homes priced under $700,000 have about 4.8 months of inventory, a balanced market, while homes over $900,000 have 10 months or more, which favours buyers.
- About one in five homes that sold needed a price cut first; those took a median of 63 days and sold for 89.7% of their original price, compared with 21 days for homes priced right from the start.
- The Bank of Canada raised its policy rate to 2.50% on October 28, 2026, its first increase after six straight holds this year.
London's housing market stayed soft in October 2026, but homes priced to the market kept selling. 380 homes sold, close to September's 384, at a median sale price of $553,164. With 5.5 months of inventory citywide, buyers have plenty of choice, and the price a seller starts at is now the difference between a home that sells in three weeks and one that sits for two months.
That lines up with what I'm seeing day to day. The market is soft, but homes that are priced right are getting real action: steady showings in the first week and offers not long after. The listings that miss on price are the ones that collect days on market and, eventually, a reduction.
How Did London Home Prices Change in October 2026?
The median sale price in London rose 3.2% from September to $553,164, while sales held almost flat. Compared with October 2025, prices are down 2.1% and sales are down 4.8%, so the year-over-year picture is still a gentle cooling rather than a sharp drop.
| October 2026 | September 2026 | October 2025 | |
|---|---|---|---|
| Homes sold | 380 | 384 | 399 |
| Median sale price | $553,164 | $536,000 | $565,000 |
| New listings | 1,030 | 1,175 | 1,041 |
| Sale price as % of final asking | 96.5% | 96.9% | 97.1% |
| Sold above asking | 46 (12.1%) | 40 (10.4%) | 47 (11.8%) |
Two notes on these numbers. Sales are counted by the date each deal went firm, the same way the MLS® System records a sold date, for residential homes in the City of London. September's figures have grown since our September 2026 update as late-reported sales reached the MLS®, which moved its count to 384 and its median to $536,000. New listings fell 12% from September, which is normal as the fall market winds down, and roughly matched last October.
Where Is the Price Line in London's Market Right Now?
London's market splits at roughly $700,000. Below that price, homes are selling at a balanced pace. Above $900,000, there are about ten months of homes for sale, which gives buyers real leverage.
The measure behind that is months of inventory: how long it would take to sell every home now listed if sales kept the pace of the last 90 days. Under about 4 months tends to favour sellers, 4 to 6 months is balanced, and anything past 6 leans toward buyers.
| Asking price | Sold in October | For sale Nov 2 | Months of inventory | Sold above asking |
|---|---|---|---|---|
| Under $500,000 | 149 | 690 | 4.8 | 22 |
| $500,000 to $700,000 | 146 | 638 | 4.8 | 16 |
| $700,000 to $900,000 | 55 | 380 | 6.8 | 5 |
| $900,000 to $1.2 million | 18 | 196 | 10.0 | 1 |
| $1.2 million and up | 13 | 135 | 10.4 | 2 |
More than three out of four October sales were priced under $700,000, and that's also where almost every bidding situation happened. Higher up, homes still sell, but buyers take their time and negotiate. Homes listed at $1.2 million and up sold for 93.8% of asking on average, compared with 97.0% for homes between $500,000 and $700,000.
Property type tells a similar story. Freehold homes (detached, semi-detached and freehold townhouses) sat at 5.0 months of inventory, right in balanced territory, with a median of $595,000 across 292 sales. Condos had 7.3 months of inventory and a median of $380,000 across 89 sales, down from $400,000 a year ago. If you're shopping for a condo in London, you are in a buyer's market.
What Does Overpricing Cost a London Seller?
In October, overpricing cost sellers about six weeks and several percent of their price. Homes that sold without ever lowering their asking price took a median of 21 days to sell. The 82 homes that needed a price cut first took a median of 63 days and ended up selling for 89.7% of the price they started at.
Across every October sale, homes sold for 96.5% of their final asking price but 95.2% of their original one. That 1.3-point gap comes almost entirely from the one in five listings that started too high. On the other side, almost a quarter of all sales happened within two weeks of listing. Those are the ones buyers recognized as fairly priced on day one.
This is the clearest pattern I can point to this fall. Buyers in London are well informed. They watch new listings closely, compare them with what just sold, and move quickly when a home makes sense. When it doesn't, they wait, because with 5.5 months of supply they can.
How Will the Bank of Canada's October Rate Hike Affect London Buyers?
The Bank of Canada raised its policy rate by a quarter point to 2.50% on October 28, 2026, its first increase after holding at 2.25% at all six earlier decisions this year (Bank of Canada). Variable-rate mortgages and home equity lines of credit, which follow the banks' prime rate, feel this kind of change first. Fixed rates follow the bond market instead, so they can move before or after the Bank does. Our guide to interest rates and London home prices walks through how each one works.
One week isn't enough to show up in sales data, and I'd be careful with anyone who says otherwise. What I expect is a little more hesitation from buyers who were already stretching, and more attention to monthly payments when they compare homes. For well-priced listings, that changes very little. For overpriced ones, it adds one more reason for buyers to hold off. The next decision is December 9.
How Did Oakridge, Byron and the Rest of the West End Do in October?
The west end stayed tighter than the city as a whole. Oakridge, Byron, Westmount and Whitehills all had about 4 months of inventory or less, compared with 5.5 citywide.
| Neighbourhood | Homes sold | Median sale price | Months of inventory |
|---|---|---|---|
| Oakridge | 11 | $580,000 | 3.9 |
| Byron | 19 | $671,500 | 4.0 |
| Westmount | 18 | $645,000 | 4.1 |
| Whitehills | 13 | $495,000 | 3.3 |
| West London | 11 | $600,000 | 4.9 |
| Riverbend | 9 | $860,000 | 5.4 |
| Lambeth | 3 | $880,000 | 13.7 |
With a handful of sales in each area, a single month's median mostly reflects which homes happened to sell. Oakridge is a good example. Its $580,000 median is well below September's $730,000, but that comes from the mix: seven of October's eight detached sales were modest 1950s and 1960s homes, plus three condos and townhouses. It doesn't mean Oakridge values fell 20% in a month.
My family has been in Oakridge since 1959, so I watch this neighbourhood listing by listing, and October showed the same price line as the rest of the city, just a little higher. Detached homes asking under $800,000 had 7 sales against 21 homes for sale, about three months of supply. Above $800,000, one home sold against 12 for sale, closer to a year. Ten of the 33 detached homes for sale had been listed more than 60 days, and most of those were asking $640,000 or more, while the detached homes that sold took a median of 22 days. Condos and townhouses held their prices better, at 98.5% of asking, compared with 94% for detached homes.
What Should London Buyers Focus On Before Year End?
Buyers have more room to negotiate now than at any point this year, but not evenly across the market.
- Above $700,000, take your time. Inventory is heavy and most homes sell below asking. Look closely at anything listed 60 days or more.
- Under $700,000, still move with purpose. Well-priced homes in this range are selling in two to three weeks, and some still draw more than one offer.
- Condos are a buyer's market. With 7.3 months of supply, there's room to ask for conditions, a better price or a later closing.
- Refresh your pre-approval. If yours is from before October 28, check what the rate hike does to your payment and your maximum price.
How Should London Sellers Price a Home This Winter?
Price to where buyers are today, not where the market was in the spring. The first two to three weeks bring the most attention a listing will ever get, and in October that window is where the strongest results came from.
- Know which side of the price line you're on. Under $700,000, a well-priced home can still sell quickly and near asking. Above it, plan for a longer timeline and more negotiation.
- Watch the first 14 days. If showings are thin after two weeks, the market is telling you something. Adjusting early costs less than chasing the market down later.
- Start with real numbers. Our home value estimate gives you a rough range in about a minute. It isn't an appraisal, and a proper review of recent sales near you is the next step before setting a price.
If you'd like help reading where your home fits in this market, I'm always happy to talk it through, with no pressure and no obligation. You can follow the same numbers for every neighbourhood on the London neighbourhood heat map.
Frequently Asked Questions
What was the average house price in London Ontario in October 2026?
The median sale price in London Ontario was $553,164 in October 2026, based on 380 homes that went firm that month. That is up 3.2% from September 2026 and down 2.1% from October 2025. Freehold homes had a median of $595,000 and condos $380,000.
Do buyers have the upper hand in London Ontario right now?
It depends on the price range. As of November 2026, London homes under $700,000 have about 4.8 months of inventory, which is balanced, while homes over $900,000 have about 10 months and condos about 7.3 months, both of which favour buyers.
How does the October 2026 Bank of Canada rate hike affect London home buyers?
The Bank of Canada raised its policy rate to 2.50% on October 28, 2026. Variable-rate mortgages and home equity lines of credit tied to prime feel it first, while fixed rates follow bond yields. Buyers with a pre-approval from before the hike should confirm their payment and maximum price.
Are homes in London Ontario selling below asking price?
Most are, by a small margin. In October 2026, London homes sold for 96.5% of their final asking price on average, and 12.1% sold above asking. Homes listed at $1.2 million and up sold for 93.8% of asking on average.
How long does it take to sell a house in London Ontario right now?
The median London home that sold in October 2026 took 27 days. Homes that never lowered their price sold in a median of 21 days, while homes that needed a price cut took 63 days and sold for 89.7% of their original asking price.
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Justin Skrypnyk
Real Estate Broker | Sutton Group Chapman Realty Inc., Brokerage | Oakridge, London Ontario
Justin Skrypnyk is a Real Estate Broker serving Oakridge and West London. He writes regularly about the London Ontario market to help buyers and sellers make well-informed decisions.