The latest statistics from the London and St. Thomas Association of REALTORS® September 2025 Market Update reveal that the region’s housing market is continuing its steady path toward balance. While overall activity has slowed from the highs of previous years, both buyers and sellers are adjusting to a market that now offers more stability, predictability, and choice.
Overview Of September 2025 Market Update
In September 2025, a total of 534 homes changed hands across the region, a 6% decline from August but still up 7% compared to the same time last year. The number of new listings rose to 1,701, an increase of nearly 14%, bringing the total active listings to 3,222, up more than 19% from 2024. This surge in available inventory has pushed months of supply to six—the highest level seen since 2015—indicating a market that has shifted firmly in favour of buyers. The average home price settled at $622,805, a modest 2.7% decline year-over-year, while the median price was $585,000. Homes sold for an average of 97% of their listing price, and the typical property spent 29 days on the market, up from 22 days a year earlier.
Single Family Homes - September 2025 Market Update
Single-family homes remained the most active category, with 437 sales recorded in September. Prices in this segment continued to moderate, with the average single-family home selling for $656,788, down just over 5% compared to last year, and the median price at $609,900. Inventory for detached homes climbed to 5.3 months, providing buyers with a wider range of options. While the pace of sales has slowed, demand for well-maintained family homes in desirable neighbourhoods continues to hold steady.
Townhomes - September 2025 Market Update
Townhouse activity, on the other hand, experienced a more noticeable decline. Sales dropped by 44% year-over-year, yet prices showed resilience, with the average townhouse selling for $532,372, an increase of almost 4% from last year, and a median price of $530,250. With 9.3 months of inventory now on the market, buyers are gaining significant negotiating power, though well-priced units are still attracting interest from first-time buyers and downsizers seeking affordable, low-maintenance living.
Apartment Condos - September 2025 Market Update
The apartment condominium segment also saw slower activity, with only 28 units sold in September, a 35% drop from last year. The average condo price fell 5.9% to $338,664, and the median price decreased to $283,750, representing a 14% decline. Inventory has expanded dramatically, with the number of active condo listings up over 75% year-over-year, giving prospective buyers far more choice than in recent years.
The MLS® Home Price Index (HPI), which provides a more stable indicator of value, showed that the composite benchmark price across the region was $562,300 in September. This represents a slight 1.8% decline from August and an 8% drop compared to last year, but values remain roughly 23% higher than they were five years ago. Breaking it down by housing type, the benchmark price for single-family homes sat at $611,400, townhouses at $467,300, and apartments at $357,000.
Within the City of London, 351 homes sold in September, down 15% from the previous year, with an average price of $615,015. Surrounding areas followed similar trends: St. Thomas and Elgin County both saw declines in sales and average prices ranging from 5% to 10%, while Middlesex County reported an average price of $768,544, down nearly 10%, with inventory reaching eight months, the highest level among local regions.
Overall, the September 2025 data suggests that the London and St. Thomas market is entering a new phase of balance. For buyers, rising inventory levels mean greater selection, less competition, and more room to negotiate favourable terms. For sellers, the key to success lies in realistic pricing, strategic presentation, and patience. Homes that are priced competitively, well-maintained, and move-in ready continue to attract serious buyers, while overpriced listings are sitting longer on the market.
The market’s current pace offers both sides an opportunity to make confident decisions without the pressure that defined the pandemic-era housing boom. As inventory continues to build and prices stabilize, London and St. Thomas are moving toward a more sustainable and predictable real estate environment.
If you’re considering buying or selling a home in this evolving market, guidance from an experienced local expert can make all the difference. For personalized insights, home evaluations, and current listings, contact Austin D. Titus, Broker at CENTURY 21 First Canadian Corp., Brokerage, or visit austindtitus.ca