London real estate market, explained.
The latest figures for the City of London, with context to help you understand what they mean. The page is updated monthly using London market statistics supplied by Royal LePage® Triland Realty, Brokerage.
Figures for September 2026, compared with September 2025
London at a glance
- Average sale price
- $591,927
- Down 3.8% from September 2025
- Homes sold
- 381
- Up 8.9% from September 2025
- New listings
- 1,165
- Down 1.3% from September 2025
- Months of inventory
- 5.7
- 6.0 in September 2025
- Sales-to-new-listings ratio
- 32.7%
- 29.7% in September 2025
Also in September 2026: 2,181 active listings (up 4.3% from September 2025), and a median of 33 days on market (27 in September 2025).
What kind of market are we in?
Two figures help describe the balance between buyers and sellers: the sales-to-new-listings ratio and months of inventory. Neither tells the whole story on its own, so it helps to read them together.
- Below 45%buyer’s marketSeptember 2026: 32.7%
- 45% to 65%balanced market
- Above 65%seller’s market
The balanced range follows the Canadian Real Estate Association (CREA), which describes national readings roughly between 45% and 65% as generally consistent with balanced housing market conditions. Source: CREA housing market statistics (opens in a new tab)
In September 2026, the sales-to-new-listings ratio in the City of London was 32.7%, below 45%, the range often described as a buyer’s market. A year earlier it was 29.7%. Months of inventory was 5.7, compared with 6.0 in September 2025.
These are city-wide figures. Conditions can be quite different for a particular price range, property type or neighbourhood.
The last three months
Recent months side by side. Three months is a short window: figures move with the seasons and from month to month, so this shows recent movement, not a long-term trend.
| July 2026 | August 2026 | September 2026 | |
|---|---|---|---|
| Average sale price | $596,617 | $580,525 | $591,927 |
| Homes sold | 448 | 337 | 381 |
| New listings | 1,072 | 955 | 1,165 |
| Months of inventory | 4.9 | 6.4 | 5.7 |
| Sales-to-new-listings ratio | 41.8% | 35.3% | 32.7% |
| Median days on market | 30 | 27 | 33 |
London home prices by area
A city-wide average can hide real differences across London. The figures are reported for three areas: North, East and South London.
Simplified drawing; area boundaries are approximate.
What the September 2026 figures show
September's figures changed somewhat from a year ago, but the overall market picture didn't change much. By the measures on this page, London remains a buyer's market. The sales-to-new-listings ratio was 32.7%, compared with 29.7% in September 2025. Looking at the last three months, the ratio has moved lower each month, from 41.8% in July to 35.3% in August and 32.7% in September. Months of inventory was 5.7, compared with 6.0 a year earlier.
Sales increased from last September, but activity remains relatively subdued. There were 381 home sales in the City of London in September. That's an increase from a year ago, but it doesn't suddenly make this a busy market. With 2,181 active listings and 5.7 months of inventory, buyers continue to have considerable choice.
Median days on market also increased, from 27 to 33 days, another indication that many homes are taking longer to find a buyer.
These are city-wide figures for one month. What you see for a particular home can differ with its location, property type, condition and price range, the other homes for sale around it, and your own circumstances.
About these figures
- Average sale price
- The average sale price of homes that sold during the month. It can change based on the mix of homes that sell and does not represent the value of any particular home.
- Homes sold
- The number of sales reported for the month.
- New listings
- Homes newly listed for sale during the month.
- Active listings
- The number of active, unsold homes listed for sale, as reported for the month.
- Months of inventory
- Roughly how long it would take to sell all active listings at the month's pace of sales.
- Sales-to-new-listings ratio
- Homes sold as a percentage of new listings in the same month.
- Median days on market
- Half of the homes that sold took less time than this, and half took longer.
Source: Canadian MLS® Systems, CREA. Figures from the Royal LePage® Triland Realty, Brokerage Market Snapshot, September 2026. The underlying statistics are from Canadian MLS® Systems, not HomeWiseman.com. Checked against the brokerage snapshot on .
Related
- Monthly market perspectiveA monthly look at the wider LSTAR-region market, explained.
- Selling a home in London, explainedThe costs, preparation and process of selling.
- Buying a home in London, explainedThe costs, steps and decisions of buying.
- HomeownersUnderstanding your home, your options and what it may be worth.
This page is general information about the London real estate market. It isn't legal, tax, mortgage or financial advice. Your own agreements, your lender and the professionals you work with determine the figures and obligations that apply to you.
Questions about the London market?
If you're trying to understand what these figures could mean for a particular home or decision, ask Jonathan.