Understanding the London ON market helps you buy at the right time, in the right neighbourhood, at the right price. Here's what the numbers look like in 2025.
The London Ontario real estate market in 2025 reflects a more balanced environment compared to the frenzied peak of 2021–2022. Buyers have more choice, conditions are more commonly accepted, and homes are spending longer on the market before selling. This is good news for buyers who felt priced out or pressured during the peak years.
Average residential prices in London ON have stabilized in the $600,000–$640,000 range for all home types. Detached homes in established neighbourhoods like Old North and Byron remain in the $700K–$900K range, while condos and townhomes provide entry points in the $380K–$550K range.
London's market offers meaningful variety across property types — from entry-level condos to luxury detached homes. Understanding which type fits your budget and lifestyle is the first step to narrowing your search.
London's neighbourhoods vary significantly in price. Here's a general comparison to help you understand where your budget lands geographically.
For buyers, the 2025 London market is meaningfully better than 2021–2022. Inventory is higher, competition is less intense, and conditions are more commonly accepted. Interest rates remain elevated compared to pre-2022 levels, but variable rates have been declining and many analysts expect further reductions through 2025–2026.
The key principle for London buyers: the best time to buy is when you are financially ready and have found the right home in the right neighbourhood for your life — not based on trying to time the market perfectly. London's long-term fundamentals — population growth, university presence, infrastructure investment, and GTA affordability gap — remain very strong.
One of London's strongest selling points is its value relative to other Ontario cities. The average home in London costs roughly half of what the same home would cost in Toronto, and significantly less than Hamilton, Kitchener-Waterloo, or Guelph. For buyers who can work remotely or commute occasionally, London represents exceptional value.
Most forecasts for the London Ontario market suggest modest price appreciation of 3–6% through 2025 and into 2026, driven by continued population growth, improving affordability as rates ease, and sustained demand from GTA buyers seeking better value. The rental market remains tight, supporting investment property fundamentals for those buying with rental income in mind.
As always, local market conditions shift quickly. For the most current data on active listings, recent sales, and neighbourhood-specific trends, connecting with a local agent who tracks the London MLS daily is the most reliable approach.
Rayna Elabed tracks the London ON market daily and can give you the most current picture of any neighbourhood you're considering.
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