Real estate experts in London

The London real estate market — Apr 2026

London is one of the largest cities in Ontario outside the Greater Toronto Area, home to roughly 422,000 residents, Western University and a diversified economy spanning health care, education, insurance and advanced manufacturing. In 2026 its housing market has tilted clearly toward buyers. The average sale price was $618,665 in April 2026 — down from $627,112 in March — while the MLS Home Price Index benchmark for a typical home stood at $563,000 in March, down 7.4% year-over-year (source: London & St. Thomas Association of REALTORS / CREA).

The clearest signal is the balance of supply and demand. London's sales-to-new-listings ratio was about 36% in April 2026 — well below the roughly 45% threshold the Canadian Real Estate Association associates with a balanced market — with close to five months of inventory. In plain terms: more homes are coming to market than are selling, prices have softened, and buyers have regained negotiating power they did not have during the frenzied years.

That matters because London remains far more affordable than the GTA. A benchmark home in the mid-$500,000s is a fraction of Toronto-area prices, which is exactly why London keeps drawing buyers priced out of the GTA, remote workers and families seeking more space. Western University and Fanshawe College also sustain steady rental demand, which keeps investor interest alive even as resale prices cool. The city's economy — anchored by major hospitals, the university, insurance and a growing tech and manufacturing base — gives the market a stability that single-industry towns lack.

For a buyer, this is a window. With prices easing and inventory ample, you have room to include a proper inspection condition, to negotiate the closing date, and to avoid the blind overbidding of the boom. But "room to breathe" is not "no urgency": the best-priced, move-in-ready homes still attract attention. The buyer who wins is pre-approved, has financing arranged, and can act decisively when the right property appears — not the one still "checking with the bank."

Financing is where a local broker earns their keep. On a typical London home, the minimum down payment follows the federal tiers — 5% on the first $500,000, then 10% on the portion above — and any purchase under 20% down requires mortgage default insurance. Buyers must also clear the federal stress test, qualifying at a rate above the contract rate. One London advantage worth knowing: unlike a purchase in the City of Toronto, there is no municipal land transfer tax here, only the provincial one — and first-time buyers can claim the Ontario land transfer tax rebate of up to $4,000. Confirm current rates and thresholds with a licensed professional, as they change.

For a seller, a buyer's market rewards realism. With a 36% sales-to-listings ratio, an optimistic asking price tends to sit and then cut, while a home priced to recent comparable sales — and well presented — still sells. Pricing to today's market, not last year's peak, is the single biggest lever on your outcome, and a clear-eyed local valuation beats a flattering one that lingers.

London is also a city of distinct neighbourhoods, and a single citywide average says little about any one street. Old North and Wortley Village (Old South) hold sought-after character homes; Byron and Hyde Park offer family suburbs to the west; Masonville anchors the north near the university; and downtown is its own condo-and-rental market. Each follows its own price and inventory pattern, so local knowledge matters more than a headline figure — for pricing an offer, for spotting an over-improved listing, or for reading which streets hold value.

In Ontario, closing is handled by a real estate lawyer — not a notary as in Quebec — who manages the title search, the land transfer and the mortgage, under the Law Society of Ontario. Payotte lists one verified professional per profession for London — real estate broker, mortgage broker, home inspector, real estate lawyer and appraiser — each ranked on a transparent 100-point grid (Google reviews, experience, an active licence on the regulator's register with RECO, FSRA, the Law Society of Ontario or the Appraisal Institute of Canada, local presence and a small bonus). One verified reference per profession — free, ad-free and commission-free, never a paid placement.

How Payotte selects

For every sector, Payotte publishes a single professional per profession — the highest-scoring on its 100-point grid (Google reviews 35, experience 30, active provincial licence 15, local presence 15, bonus 5). No paid placement, no ads, no commissions.