In August, 616 homes exchanged hands via the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR), up 10.4% compared to the same month a year ago. Similar to July, August posted its strongest sales month since 2021.
“August recorded the highest inventory level in the last 10 years, with five months of inventory,” said Dale Marsh, 2025 LSTAR Chair. “New listings also reached a peak since 2015, with 1,347, and the sales-to-new listing ratio was 45.7%. According to the Canadian Real Estate Association (CREA), a sales-to-new listing ratio between 40% and 60% indicate a balanced market. When it drops below 40%, it starts to show signs of a buyers’ market.”
Average sales price was similar to July, at $651,329, up 3.3% compared to August 2024. Meanwhile, the Composite MLS® Home Price Index (HPI) Benchmark Price was $572,400, down 1.1% from a month ago.
“Since the beginning of the year, the average sales price has remained relatively consistent, fluctuating between a low of $639,486 in January and a high of $656,432 in May,” Marsh said. “And between June and August, the average price has seen less variation, ranging between $648,273 and $651,329. Again, every home is unique, and your local REALTOR® can help guide you through the numerous facets of the marketplace.”
The table below displays August’s average prices and MLS® HPI Benchmark Prices in LSTAR's main regions.
Area | August 2025 | August 2025 |
|---|---|---|
| Central Elgin | $616,800 | $534,544 |
| London East | $446,200 | $473,106 |
| London North | $651,900 | $754,073 |
| London South | $570,800 | $679,982 |
| Middlesex Centre | $793,400 | $922,033 |
| St. Thomas | $532,300 | $561,194 |
| Strathroy-Caradoc | $791,700 | $622,725 |
| LSTAR | $572,400 | $651,329 |
The HPI benchmark price reflects the value of a “typical home” as assigned by buyers in a certain area based on various housing attributes, while the average sales price is calculated by adding all the sale prices for homes sold and dividing that total by the number of homes sold. The HPI benchmark price is helpful to gauge trends over time since averages may fluctuate by changes in the mix of sales activity from one month to the next.
The following table displays August's benchmark prices for all housing types within LSTAR's jurisdiction and shows how they compare with those recorded in the previous month and three months ago.
MLS® Home Price Index Benchmark Prices | |||
|---|---|---|---|
| Benchmark Type | August 2025 | Change Over July 2025 | Change Over May 2025 |
| LSTAR Composite | $572,400 | ↓1.1% | ↓3.6% |
| LSTAR Single-Family | $624,900 | ↓1.2% | ↓4.1% |
| LSTAR One Storey | $567,900 | ↓1.0% | ↓5.8% |
| LSTAR Two Storey | $671,500 | ↓1.4% | ↓2.9% |
| LSTAR Townhouse | $467,400 | ↓1.2% | ↓4.3% |
| LSTAR Apartment | $365,400 | ↓0.2% | ↓1.1% |
The chart below shows the most recent HPI benchmark prices across the country, courtesy of CREA. “When compared to other provincial and national centres, LSTAR’s region presents a multitude of options for buyers,” Marsh said.
According to a recent study1 by Altus Group, an average housing transaction in Ontario generated an average of $88,966 in spin-off spending per transaction from 2020 to 2022. These expenses include legal fees, appraisers, moving costs, new appliances, and home renovation expenses.
“That means the sales activity in August could potentially generate more than $54 million into the economy across the region,” Marsh said.
Employment resulting from home sales is also significant, according to the Altus study. Resale housing activity created an estimated 106,565 jobs annually in Ontario from 2020 to 2022. Jobs include manufacturing, construction, finance and insurance.
1Economic Benefits Generated by Home Sales and Purchases Over MLS® Systems in Canada, Altus Group, 2023.
