Downtown London, Ontario Real Estate Market Update: Late Summer 2026

If you've been watching the Downtown London Ontario real estate market this summer, here's the short version: prices have cooled, inventory has grown, and buyers finally have some breathing room. I'm Gloria Roman, a London REALTOR® with Century 21, First Canadian, and I spend a lot of time in the core with clients weighing condos against detached homes farther out. This update walks through where the numbers stand right now and what's coming next for downtown.

Key Takeaways

• London-area home sales rose 1.6% year-over-year to 753 units in June 2026, while the average sale price fell 6.7% to $606,614, according to the London and St. Thomas Association of REALTORS® (LSTAR).
• Condos have softened the most: the average condo selling price in London dropped 8.7% year-over-year to $324,100 in June 2026, per LSTAR data.
• Months of inventory sit around 4.6, and the sales-to-new-listings ratio eased to 41.6% — both signs of a market that favours buyers over sellers right now.
• London City Council has endorsed “Downtown Reimagined,” a 10-year downtown plan with 58 actions aimed at revitalizing the core, alongside completion of an $18-million sewer infrastructure project that clears the way for future development.
• Condos currently make up roughly 23% of active listings citywide, giving buyers more selection in and around the downtown core than they've had in recent years.

Where Prices and Inventory Stand Downtown

LSTAR’s most recent reporting shows the broader London market moving toward balance, and that shift shows up clearly in the condo segment that dominates downtown living. The average condo sale price in London fell to $324,100 in June 2026, down 8.7% from the year before. For buyers who’ve been priced out of the core over the past few years, that softening — combined with months of inventory near 4.6 — means more negotiating room than we’ve seen in a while.

I want to be clear about one thing: these are city-wide LSTAR figures, not a downtown-only breakdown, since granular neighbourhood-level pricing isn’t published separately. If you want a read on what’s actually listed and selling on specific downtown streets right now, that’s where a conversation with me is more useful than any market report — reach out and I can pull current listings for you.

What “Downtown Reimagined” Means for Buyers and Investors

The bigger downtown story this year isn’t just price — it’s what’s being built. London City Council has endorsed the Downtown Plan, branded “Downtown Reimagined,” alongside a companion economic development strategy for 2026–2030. Together, they lay out 58 actions for the core, including a “Big Move” to build a River District that better connects downtown to the Thames River, upgrades to public spaces, and a push to build on London’s UNESCO City of Music designation.

On the infrastructure side, an $18-million sewer project running beneath the Thames wrapped up in June 2026. That kind of underground capacity work isn’t glamorous, but it’s exactly what needs to happen before new mid-rise and high-rise projects can move forward downtown. For investors and buyers thinking long-term, this is the kind of groundwork that tends to precede a wave of development — not overnight, but over the coming decade.

Who Downtown London Still Works Best For

Downtown living isn’t for everyone, and I say that as someone who’s helped clients on both sides of that decision. It tends to work well for buyers who want to walk to work, restaurants, and Budweiser Gardens events without relying on a car, and for downsizers who are trading yard maintenance for a lock-and-leave condo lifestyle. It’s also worth a look for investors eyeing rental demand near Fanshawe College’s downtown campus and the hospital network.

It tends to work less well for buyers who need a large yard, multiple parking spaces, or top-rated school catchments — those needs are usually better served in neighbourhoods like Byron, Lambeth, or North London, which I’ve covered in other guides.

A Note on Mortgage Costs

A recent national survey found many homeowners are managing higher mortgage payments despite ongoing concerns about affordability. If you’re weighing a downtown purchase against rising carrying costs, it’s worth having a detailed conversation with a mortgage professional before you start touring units — I’m happy to connect you with people I trust in the London market.

FAQ

Is now a good time to buy a condo in Downtown London? With months of inventory near 4.6 and prices down year-over-year, buyers currently have more selection and negotiating leverage than in recent years. Whether it’s the right time for you depends on your timeline and financing — let’s talk specifics.

Why did condo prices drop more than detached home prices in London? Condos have seen the softest pricing in the current market cycle, with LSTAR reporting an 8.7% year-over-year decline in the average condo sale price as of June 2026, compared to a 6.7% decline for the overall market average.

What is the Downtown Reimagined plan? It’s a 10-year downtown revitalization plan endorsed by London City Council, covering 58 actions including a River District along the Thames, public space upgrades, and long-term development groundwork like the recently completed sewer infrastructure project.

Are there new condo developments planned for Downtown London? The city’s downtown planning work and recently completed infrastructure upgrades are aimed at enabling future development in the core. I track new project announcements closely and can update you as specific buildings come to market.

How do I find out what’s actually for sale in Downtown London right now? City-wide statistics only tell part of the story. Contact me directly and I’ll pull current downtown listings so you’re working with real-time, street-level information rather than averages.

Ready to Explore Downtown London?

Whether you’re a downsizer looking for a lock-and-leave lifestyle, an investor eyeing long-term growth near the core, or simply curious what your budget gets you downtown right now, I’d love to help you make sense of this market. Schedule a free consultation with me at (647) 883-7135 or visit 519propertyfinder.com/contact, and let’s figure out your next move together.