May 2026 London Ontario Real Estate Market Update
- Justin Skrypnyk
- 1 day ago
- 7 min read
More Homes, More Sales, and a Market Finding Its FootingSpring is doing what spring does in
London, Ontario — bringing more buyers out, more homes to market, and a little more confidence back into the numbers.
May 2026 was a solid month for London real estate. Sales climbed, prices firmed up from April, and the overall picture looks like a market that has found a healthier rhythm after a year of adjustment.
Here is a full breakdown of what happened in the London Ontario housing market in May 2026 — and what it means if you are thinking about buying or selling this summer.
London Ontario Real Estate Market: May 2026 Snapshot
Metric | May 2026 | Month-Over-Month | Year-Over-Year |
Average Sale Price | $638,813 | +5.9% | -1.2% |
Median Sale Price | $580,000 | +3.6% | -3.6% |
Sales (Transaction Volume) | 543 | +26.0% | +11.3% |
New Listings | 1,296 | +5.9% | -7.8% |
Average Days on Market | 33 days | -7.5% | +17.3% |
Median SP/LP Ratio | 97.7% | +0.1% | -0.3% |
% Sold Above List | 19.2% | — | — |
% Sold Below List | 74.2% | — | — |
Total Dollar Volume | $346,875,205 | +33.5% | +9.9% |
Source: The Habistat Analytics Platform in partnership with PropTx. Data covers all residential property types across London East, London North, and London South (Middlesex). Generated June 16, 2026. Subject to change.
How Many Homes Sold in London Ontario in May 2026?
543 homes sold in London in May 2026 — up 11.3% compared to May 2025 (488 sales) and up 26.0% from April 2026 (431 sales).
That month-over-month jump is the clearest signal yet that London's spring market has arrived. It was the strongest single month of 2026 so far.
Year-to-date, London sits at 1,931 sales — essentially flat versus the same period last year (1,948 sales, down just 0.9%). The market is not roaring ahead, but it is holding steady and May moved things in the right direction.
What Is the Average Home Price in London Ontario Right Now?
The average home price in London Ontario in May 2026 was $638,813 — up 5.9% from April and down 1.2% from May 2025.
The median sale price was $580,000 — up 3.6% month-over-month and down 3.6% year-over-year.
Prices are running modestly below last May's levels, which were elevated coming off a stronger spring in 2025. But the month-over-month trend is positive — prices climbed through the spring of 2026, which is exactly the seasonal pattern a healthy market produces.
For broader context, the year-to-date average price sits at $617,284, compared to $642,754 at this point last year — a 4.0% gap that reflects the softening seen through 2025. The gap is narrowing.
Currently, there are 2,272 active listings on the market in London with a median list price of $625,000. The 25th percentile of active listings sits at $489,000 and the 75th percentile at $849,000, giving buyers a wide range of price points to work with.
Where Are Homes Selling in London? Active Listings by Price Range
The most active price range in London right now is the $500,000 to $599,999 band, with 410 active listings — the deepest pool of available inventory in the city.
Here is how current active listings break down across price ranges:
Under $300,000: very limited supply (149 total listings)
$300,000 to $399,999: 228 listings
$400,000 to $499,999: 285 listings
$500,000 to $599,999: 410 listings (most active range)
$600,000 to $699,999: 321 listings
$700,000 to $799,999: 243 listings
$800,000 to $999,999: 322 listings
$1,000,000 and above: 314 listings
Entry-level inventory under $300,000 remains very limited. The bulk of the market operates between $400,000 and $800,000, which is where most London buyers and sellers are competing right now.
London Ontario Housing Market: Total Dollar Volume
May 2026 recorded $346,875,205 in total residential sales volume — up 33.5% from April and up 9.9% from May 2025. That is a healthy jump and reflects stronger buyer activity heading into summer.
Year-to-date dollar volume sits at just under $1.2 billion ($1,191,976,262), running about 4.8% behind last year's pace. But May's numbers were the strongest of 2026 so far, and the trajectory is improving month over month.
How Many Homes Are Listed in London Ontario?
1,296 new listings came to market in May — up 5.9% from April, though down 7.8% compared to May 2025.
Year-to-date, new listings sit at 5,058 versus 5,030 at this point last year — up just 0.6%. Supply is not flooding in, but it is steady. That balance keeps the market from tilting sharply in either direction.
There are currently 2,272 active listings in London, with an average list price of $722,034 and a median list price of $625,000.
For buyers: decent selection exists across most price ranges. For sellers: competition is real but not overwhelming. Homes that are priced well and presented well are still moving.
How Long Are Homes Sitting on the Market in London Ontario?
Average days on market in May 2026: 33 days (down from 36 in April, up from 28 in May 2025)
Median days on market: 22 days (flat month-over-month, up from 19 in May 2025)
Homes are taking about 4 to 5 days longer to sell compared to a year ago. That matters. Buyers have more time for due diligence. Sellers who overprice are feeling it — the year-to-date median days on market is 24 versus 20 last year, a 20% increase.
The current active listings overview shows an average DOM of 48 days and a median of 34 days, which captures homes still sitting on the market. That gap between sold (22-day median) and active (34-day median) tells the story clearly: well-priced homes move, overpriced homes sit.
Are Homes Selling Above or Below Asking Price in London Ontario?
74.2% of London homes sold below asking price in May 2026
19.2% sold above asking price
6.6% sold at list price
Average SP/LP ratio: 97.8%
Median SP/LP ratio: 97.7%
Homes are selling at just under asking price on average — a slight improvement from April (97.6%) but down from May 2025 (98.3%). Multiple offers still happen on well-priced, turnkey homes, but most buyers have real negotiating room in this market.
The year-to-date SP/LP data (97.5% average, 98% median across all of 2025 to May 2026) confirms this is a consistent pattern, not a one-month anomaly.
Terminations: A Positive Signal
405 listings were terminated in May — down 7.1% from April and down 16.1% from May 2025.
Fewer sellers pulling their listings suggests more realistic pricing is coming to market and that seller confidence is improving. A high termination rate is often a sign of sellers testing the market with inflated prices and then withdrawing. The downward trend here is a healthy one.
What Does This Mean for Buyers in London Ontario?
May 2026 was a strong month to be a buyer in London. Inventory is solid, homes are taking longer to sell, and the sale-to-list ratio gives negotiating room in most situations.
That said, well-priced homes in desirable neighbourhoods are still moving. If a property checks the right boxes and is priced accurately, you may still be competing. Getting pre-approved and being ready to move when the right home comes along remains the right strategy.
With the Bank of Canada holding its key rate at 2.25% since late 2025, borrowing conditions are stable and predictable — buyers can now budget with confidence in a way that was not possible a year or two ago.
What Does This Mean for Sellers in London Ontario?
The spring window is open. May proved buyers are out there and willing to transact. But pricing is everything right now.
With 74% of homes selling below asking and average days on market up year-over-year, overpricing is not a strategy — it is a delay. Sellers who price accurately, prepare their homes well, and market with intention are still achieving strong results close to asking price.
The termination data backs this up: sellers who come to market priced right are staying on the market and closing. Those who do not are pulling listings and starting over.
Frequently Asked Questions: London Ontario Real Estate May 2026
What is the average home price in London Ontario in 2026? The average sale price in London Ontario in May 2026 was $638,813. The year-to-date average through May is $617,284.
Is London Ontario a buyer's or seller's market right now? London is currently in balanced-to-buyer-leaning market conditions. With 74% of homes selling below list price and homes taking longer to sell than a year ago, buyers have negotiating power in most situations. Well-priced homes in strong locations still attract competition.
How many homes are for sale in London Ontario right now? As of late May/early June 2026, there are 2,272 active residential listings in London Ontario, with a median list price of $625,000.
How long does it take to sell a home in London Ontario? The median days on market for sold homes in May 2026 was 22 days. Active (unsold) listings are sitting at a median of 34 days, which reflects the gap between well-priced homes and those that need a price adjustment.
Is now a good time to buy a home in London Ontario? Conditions in May 2026 favour buyers more than they have in several years. Inventory is solid, prices are stable, interest rates are steady, and most homes are selling below asking. Buyers who have been waiting for the right window have a real opportunity right now.
Is now a good time to sell a home in London Ontario? Selling in London in 2026 requires a more strategic approach than in 2021 or 2022. Homes that are priced accurately and presented well are achieving close to asking price and selling within reasonable timeframes. The spring market has been active. Pricing competitively from day one is essential.
Final Thoughts on the London Ontario Real Estate Market
May 2026 was a step in the right direction for London real estate. Sales climbed, prices firmed month-over-month, dollar volume was up nearly 10% year-over-year, and the overall picture looks like a market finding a sustainable, healthier rhythm.
London does not behave like Toronto or the GTA. It is driven by end-user demand, low-rise housing, and established neighbourhoods — and that structure keeps it more stable than the volatile condo-heavy markets to the east. That has been true through the past few years of correction, and it remains true heading into summer 2026.
If you are thinking about buying or selling in London — or specifically in Oakridge or West London — reach out. Understanding what the numbers mean for your specific neighbourhood, your price range, and your timeline is where the real value is.
Data sourced from The Habistat's Analytics Platform in partnership with PropTx. Covers all residential property types across London East, London North, and London South (Middlesex). Data generated June 16, 2026 and subject to change.
Justin Skrypnyk | Broker | Sutton Group Chapman Realty Inc.
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