Home sales in the London–St. Thomas region slowed in January while inventory climbed to its highest level in the past decade, according to new data from the London and St. Thomas Association of Realtors (LSTAR).
LSTAR says 341 homes changed hands in January, down 10.3 per cent compared to the same month a year ago. The average sale price was $624,550, up more than $10,000 from December but down 0.6 per cent compared to January 2025.
MLS Home Price Index benchmark prices across Canada, January 2026. (Credit: LSTAR)
For buyers and sellers trying to time a move, the latest numbers suggest a market where shoppers have more selection and time, and where sellers may need to be strategic to stand out.
LSTAR chair Robin Tiller said economic uncertainty is one factor behind slower activity. She pointed to worries about affordability, job markets and broader housing policy. She said a harsher winter may also be making house-hunting harder than in recent years because buyers have fewer chances to see roofs, yards and other exterior details between snowfall.
Tiller said some homeowners are also more comfortable listing if they are downsizing and expect to buy into a lower-priced home. She said some buyers are stepping back into a watch-and-wait mode, partly because slower markets in other regions can make local buyers more cautious.
LSTAR says inventory stood at 6.6 months in January, up from 5.3 months a year earlier, and marks the most active listings seen in the past 10 years.
“My best advice for buyers and sellers right now is to contact a professional well in advance of what your plans are,” Tiller said. “So if you are thinking about buying or selling, contact a realtor, let them walk you through the process, have them show you the numbers and explain to you what the numbers actually mean for their situation.”
LSTAR’s report lists the MLS Home Price Index benchmark price for a typical home in London–St. Thomas at $558,000 in January, compared with $658,300 nationally.
Adam Miller is a real estate broker and sales manager with Royal LePage. (Credit: royallepagetriland.com)
Adam Miller, a broker and sales manager with Royal LePage Triland, told XFM News that January followed a stronger-than-expected December, and that buyers appear to be active but are taking more time because of the increased selection.
Miller said one challenge for sellers is patience. He said buyers may view a home early, then spend one or two weeks looking at other properties before circling back, which can feel like a lack of interest even when it is not.
On pricing, Miller said month-to-month averages can be misleading when the number of sales is lower. He said a few high-end sales can skew the average upward, and that does not necessarily mean all prices rose across the board.
“I think now is a great time,” Miller said. “And you know, for both buyers and sellers, what we have to really understand is that the market’s not as bad as we perceive it to be.”
