London, Ontario Home Prices

Curious about London, Ontario home prices? Whether you’re looking to buy a home in London or are hoping to sell your London, Ontario property, this post contains a lot information that you’ll want to know, including:

• Average home appreciation in London, Ontario & St. Thomas region since 2005

• Average home price by style of home (single family, townhouse, apartment etc).

• Information on whether home prices have dropped (spoiler: yes, they have, but it’s complicated)

• Is now a good time to buy?

• Is now a good time to sell?

Information About the London, Ontario Home Price Data

Data in this post has been pulled from the Canadian Real Estate Association (CREA) Home Price Index Tool. 

It’s worth noting that the way that home price data is rolled up by real estate board makes it so that London, Ontario home market includes home prices from St. Thomas. This catchment area for reporting is also called the London St. Thomas Real Estate board or LSTAR). 

What this means for you is that the prices can vary a lot by area.

According to an August 2025 CBC article, the average price of a St. Thomas home, (according to LSTAR stats), is just over $550,000. While homes in LSTAR's east London region are less at $517,000, St. Thomas is much more affordable than homes in north London ($740,000) and south London ($657,000). 

Because of this price variability, the information in this post should be understood as general data. 

For information on specific neighbourhoods within London and St. Thomas, always contact a realtor. 

London & St. Thomas Home Appreciation Surpasses Major Markets

It might be surprising to hear, but home appreciation in London, Ontario has surpassed famously pricier markets such as Toronto, Vancouver and Montreal.

Source: CREA Home Price Index Tool

Put another way, the investment required to buy a home in London, Ontario is far less than buying in other major Canadian cities.

According to census data, London, Ontario sits at number 15 in the list of Canada’s largest cities, but is growing quickly. In the five year period from 2016-2021 the city grew 10 percent, which exceeds all but one other city on the top 15 list.

Source: CREA Home Price Index Tool (data is for all housing types from single family homes to townhouses and apartments).

Appreciation for London, Ontario Homes by Housing Type

Source: CREA Home Price Index - London-St. Thomas home prices. Note “SFH” = single family home.

Across the board, home prices have increased quite a bit.

However, when you look at the data to find the best return on investment - there’s a surprising winner. Townhome/Row style homes have increased by a whopping 346 percent, which is the most out of any housing type over this 20 year period.

Why?

This could be because of increasing demand for this style of house by first time buyers or downsizers, given their relative affordability compared to other forms of housing, while still maintaining more of a ‘house’ feel (instead of an apartment/stacked living).

Source: CREA Home Price Index Tool

Have Home Prices Dropped?

While overall home prices are significantly up over the last 15 years as demonstrated by this data, London’s home prices have actually come down substantially (25%) over the last three (2022-2025). 

Since 2022’s average unprecedented high of $843,100 (on average for single family homes), when supply was incredibly restricted the average price for this same housing type in London-St. Thomas has fallen to $632,800 - a drop of $210,300 or 25%, which is substantial.

Is Now a Good Time to Buy a Home?

The overall price drop that’s occurred over the past three years is good news for people who may be hoping to enter the market and buy their first home, or downsize. However, the investment is still substantially higher than 15 years ago, making home ownership a challenge for many.

Luckily, London, Ontario also appears to be in a buyer’s market (2025). Gone are the pandemic days when a home would barely get the ‘for sale’ sign up before the sold sign showed up, as a flood of no-condition offers came in. Nowadays, it is more than reasonable to negotiate on a house deal again.

Get more information on Buying a Home, including a free downloadable buyer’s guide.

Is Now a Good Time to Sell a Home?

If you want to sell your home, you may be feeling some hesitation over a sense of ‘not getting what your home is worth’ if you sell now. 

However, the real answer as to whether now is a good time to sell a home (or not) is dependent on many variables, such as:

• How long ago did you buy your home? If you bought five or more years ago, the truth is that your value is up substantially overall. But if you bought in the last 3 years, you’re likely to see no or little return.

• What is your life situation? Sometimes, the most important aspect of whether or not to sell is not actually financial but personal. From moving for a new job to selling an estate, you may have to make the best of the market in order to get ahead in life overall.

• Can you wait? In following with the above, we know that most often, home values tend to appreciate. This is especially true when you take a longer term view. Waiting to sell can net you more money overall the longer you wait, but of course, sometimes you just need to sell and move on.

Get more information on Selling a Home, including a free home seller’s guide.

Home Ownership is a Great Investment

Overall, whether you’re motivated by financial reasons or personal ones, home ownership is a worthwhile investment that’s likely to pay off in spades.

From the joy of having your own space, to having enough room to grow you family, to creating a sense of pride of ownership knowing that your financial investment is paying off - there are many great reasons to buy a home.

If you’re interested in investigating buying or selling in London, Ontario, St. Thomas or beyond, don’t hesitate to reach out to me.