September 2026 in London, Ontario: Sales Climbed, Prices Softened — and Your Segment Decides What It Means

September in London was busier — and softer — than August. LSTAR's September numbers tell a clear story: 371 homes sold across London, up 10.1% from August's 337 and 3.6% more than last September. The median sale price came in at $540,000, down 1.8% from August and 6.6% from a year ago.

But the citywide average is, once again, not the whole story.

Two segments, two speeds

Detached homes sold 247 units in September at a median of $610,000, with 12% selling at asking and about five months of inventory — balanced territory. Well-priced detached homes are still drawing competition.

Condos told a different story: 91 sales at a median of $437,000, only 7% at asking, and about six and a half months of inventory — buyer-favoured. A quarter of active condo listings have already cut their price.

The pricing lesson of September

On average, London homes sold at 96.9% of their final list price — but only 95% of their ORIGINAL list price. Of 371 sales, 140 closed more than 5% below the first asking price.

Translation: homes that started at the right price sold close to it. Homes that started high got there anyway — weeks later and thousands less. Pricing from day one is still the biggest factor in how a sale goes, more than staging, timing, or marketing.

What this means for buyers

If you're buying a detached home, move with purpose when the right listing appears — balanced doesn't mean easy. If you're buying a condo, you have real choice and room to negotiate right now. Either way, check your pre-approval: fixed rates moved up in late September as the five-year bond yield hit a 52-week high near 3.73%, and your rate hold may not stretch as far as it did.

What this means for sellers

October is usually when buyer activity picks up after the September reset — but buyers are paying fair value, not more. Price for YOUR segment's data, not last year's headlines. As we say in the office: our job isn't to tell sellers what the London market is doing — it's to tell them what THEIR market is doing.

The rates wildcard

The Bank of Canada has held its policy rate at 2.25% since October 2025 — seven straight holds — but the tone is shifting. With inflation at 3.0% in August, right at the top of the Bank's control range, the Bank says the risks of higher inflation have increased and that it's prepared to adjust. Markets are starting to price in a hike rather than a cut. The next decision lands October 28.

The bottom line

Fall 2026 in London, Ontario rewards precision: the right segment, the right price from day one, and financing that's actually current. We run the numbers for every segment — so your decision is based on your home, not the headline.

— Paola Cano & Jose Ramirez, Thrive Realty Group Inc., Brokerage, London, Ontario.