London Ontario Real Estate 2026: Prices & Neighborhoods

Anyone browsing London, Ontario home listings online has probably noticed a strange thing: the same house hunt looks different depending on which website you use. That’s not an illusion — different platforms report different numbers of homes for sale, and even the “average price” changes depending on which source you check. This guide cuts through the conflicting data to give you the real picture of London’s housing market in mid-2026, covering prices, the best neighborhoods, and what to expect next.

Listings on REALTOR.ca: 2,287 ·
Listings on Zillow: 1,651 ·
Listings on Zolo: 2,548

London’s real estate numbers look different depending on which dataset you open. Three snapshot facts from recent reports show the spread.

The catch: two tier-1 sources don’t agree on April’s average price — CREA says $618,665, nesto.ca says $567,400. That $51,265 gap shows that methodology and scope matter when comparing London home prices.

Ontario’s average resale price is projected to decline slightly in 2026, driven mainly by weakness in the Greater Toronto Area and plentiful resale supply.

Are London Ontario house prices falling?

To answer directly: yes, prices have dropped year over year, but the picture is more layered than a simple “falling” label. In April 2026, the average selling price across all property types in London was $567,400, a 4% decrease from the same month in 2025, according to nesto.ca market analysis. Single-family homes averaged $621,700, down 3.7% year over year.

Year-over-year price changes

• April 2026 average: $567,400 – down 4% from April 2025 (nesto.ca)
• March 2026 average: $627,112 – down from $636,942 in late 2024 (ElevateLondon)
• April 2026 CREA average: $618,665 – down from $627,112 in March (CREA Statistics)

Month over month, April prices were up 0.8% from March according to nesto.ca, which suggests the market may be finding a floor. The pattern: prices are lower than a year ago, but the rate of decline appears to be slowing.

Factors influencing price drops

• CMHC’s Housing Market Outlook 2026 attributes Ontario’s projected average price decline mainly to weakness in the Greater Toronto Area and plentiful resale supply.
• Elevated inventory across the region means sellers have less leverage — more listings mean more competition among sellers, which softens prices.
• Higher borrowing costs (the lowest 5-year fixed rate in London was 4.14% in late May) continue to squeeze buyer budgets, particularly for first-time buyers.

Current market conditions

• ElevateLondon describes the market as “transitioning to a more balanced state” after several years of rapid change.
• Sales activity increased 4.1% in March 2026 compared with March 2025 (ElevateLondon), indicating buyer activity is holding up.
• CMHC projects modest price increases returning later in the forecast period as inventory crests and demand strengthens gradually.

London’s market is transitioning to a more balanced state after several years of rapid change.

What this means: London isn’t in a crash — prices are correcting from pandemic peaks, and the market is recalibrating to a more normal balance between buyers and sellers.

What is the average cost of a home in London, Ontario?

The answer depends on which property type and which data source you trust. Here’s the breakdown across the main categories.

Price ranges by property type

• Average all-property-type selling price (April 2026): $567,400 (nesto.ca)
• Average single-family home (April 2026): $621,700 (nesto.ca)
• CREA’s April average for all properties: $618,665, which likely includes more condo/townhouse data than the single-family figure (CREA Statistics)
• Average rent: $1,925 per month (April 2026), with a low estimate of $1,680 and high of $2,055 (nesto.ca)

Four price estimates, one pattern: the spread is wide. The $618,665 CREA figure is $51,265 higher than nesto.ca’s $567,400. Different methodologies — CREA’s data includes all MLS transactions including condos and townhouses, while nesto.ca’s figure may reflect a different mix of sold properties.

Average price by neighborhood

Public data on neighborhood-level averages is sparse, but listings on REALTOR.ca (national real estate listing platform) show clear trends: detached homes in West London often exceed $700,000, while East London and South London offer more entry-level options under $500,000 for townhouses. Prices in central neighborhoods like Old North and Wortley Village tend to cluster between $550,000 and $750,000 for single-family homes, reflecting their desirable location and character.

Comparison with Ontario averages

• London’s $567,400 average is well below the Ontario average of approximately $800,000–$900,000 (depending on month and source).
• CMHC projects Ontario’s average resale price will decline slightly in 2026, driven mainly by weakness in the GTA (CMHC Housing Market Outlook).
• London offers a 30–40% discount compared to the Toronto area, with much of that difference driven by land values.

The implication: for buyers priced out of Toronto or the GTA, London is one of the most accessible mid-sized cities in Ontario, especially for those who can work remotely or commute two to three days per week.

Is London, Ontario expensive to live in?

Compared to Toronto, yes, it’s significantly cheaper. But “cheap” is relative — housing still consumes a large share of household income.

Housing affordability ratio

• Average rent of $1,925 per month requires an annual pre-tax income of roughly $77,000 at the 30% housing-cost rule.
• A $567,400 home at 4.14% fixed over 5 years with a 20% down payment results in monthly mortgage payments around $2,200–$2,400, depending on amortization.
• Median household income in London (2021 Census) was approximately $76,000 — meaning the median household can just afford a median-priced home, but with little margin for savings or emergencies.

Utility and transportation costs

• Hydro, water, and gas for a typical single-family home run $200–$350 per month in London.
• Transit costs for London Transit Commission: adult monthly pass ~$90.
• Gasoline costs are comparable to other Southwestern Ontario cities.

Comparison to other Ontario cities

• Toronto average home price: ~$1.1 million – London is roughly half the price.
• Kitchener-Waterloo average: ~$700,000 – London is 15–20% cheaper.
• Windsor average: ~$500,000 – London is slightly more expensive, offering more amenities and a larger job market.
• Ottawa average: ~$650,000 – London is similar but with a smaller economy and lower transit infrastructure.

Why this matters: London sits in a sweet spot — significantly cheaper than Toronto or the GTA, but with a broader job market and more amenities than Windsor or smaller towns. For families and remote workers, it’s one of the most cost-effective mid-sized options in Ontario.

What is the nicest neighborhood in London, Ontario?

Four neighborhoods consistently stand out in community feedback and local media. Each has a distinct character, and the right choice depends on lifestyle priorities.

Old North

• One of London’s most walkable neighborhoods, with tree-lined streets and historic homes.
• Close to downtown, Western University, and the Thames Valley Trail.
• Homes typically range from $550,000 to $1 million+ depending on size and condition.
• User reviews on community forums highlight its blend of character, proximity, and quiet livability.

Old North appeals to professionals and academics who want an urban feel without the noise of downtown.

Wortley Village

• A compact, community-focused neighborhood with independent shops, cafes, and a strong neighborhood association.
• Known for its annual Wortley Village Street Fair and active community events.
• Home prices typically range $500,000–$800,000 for single-family homes.
• Rated highly for walkability and sense of community on platforms like Zillow (real estate listing portal) and local forums.

Byron

• A west-end suburban neighborhood with larger lots, good schools (Thames Valley District School Board), and access to the Thames River.
• Popular with families looking for space and safety.
• Home prices typically range $600,000–$900,000 for detached homes.
• Commute to downtown is approximately 15 minutes by car.

Masonville

• North London neighborhood anchored by Masonville Place mall and Western University.
• Mix of condos, townhomes, and single-family homes, with good access to public transit along Richmond Street.
• Home prices range $350,000–$700,000, with condos starting around $350,000.
• Popular with students and young professionals due to proximity to Western University and Fanshawe College.

The trade-off: Old North and Wortley Village offer charm and walkability at a premium. Byron and Masonville offer more space and newer developments but require a car for everyday errands.

What is the best area to live in London, Ontario?

The “best” area depends on personal priorities — there is no single winner. Here’s a framework for deciding based on what matters most.

Criteria: schools, commute, recreation

• For top-rated schools: West London (Byron, Oakridge) and South London (White Oaks) are served by highly rated schools in the Thames Valley District School Board and London District Catholic School Board.
• For walkability and public transit: Old North, Wortley Village, and downtown core score highest. London Transit’s bus network centers on Richmond Row and Dundas Street.
• For recreation and green space: Byron along the Thames River, and the west end near Springbank Park offer the most parkland access.

Top-rated suburbs

• Byron (west) — consistent top choice for families in community surveys.
• Westmount (west) — established, with good schools and larger lots.
• White Oaks (south) — newer developments, more affordable, growing rapidly.
• Stoney Creek (northwest) — suburban feel with access to the university.

Downtown vs. suburban living

• Downtown: condo living, walkability, nightlife, proximity to Budweiser Gardens and the London Farmers’ Market. Rental costs are $1,500–$2,500 per month for a one-bedroom.
• Suburban (West, South, Northwest): single-family homes with yards, better school ratings, quieter streets. Commute times of 15–25 minutes by car.

The pattern: for young professionals and students, downtown or Old North offers convenience. For families with children, West and South London deliver space and school access. For downsizers and empty nesters, Wortley Village or Byron balance character with practicality.

The question for London’s market isn’t whether it’s crashing — it’s not. It’s whether the current correction is the right moment for buyers to act. Prices have fallen 4% year over year, supply is healthy with over 2,500 listings across platforms, and the Canada Mortgage and Housing Corporation projects that Ontario’s average resale price will decline slightly in 2026 before returning to modest growth. For buyers priced out of Toronto, the decision is clear: the current market gives you leverage you haven’t had since early 2021. Wait too long for a perfect bottom, and you risk missing the window while inventory is high and competition is low. For sellers, the calculus is different — list at a realistic price, or watch your home sit against the competition of 2,287 other listings on REALTOR.ca alone.

Frequently asked questions