‘Many potential buyers remain on the sidelines’: Home sales flatline during month of November, LSTAR says

New data shows a period of stagnation for home sales during the month of November.

November was much of the same when it came to housing sales across the region with fewer than 500 homes exchanging hands, according to the newest data from LSTAR.

According to a news release from the London and St. Thomas Association of Realtors (LSTAR), 492 homes exchanged hands during the month of November, marking a decrease of 19.2 per cent compared to the same month a year ago, but up 15.5 per cent from November 2023.

“Although down from the previous November, sales were on par with activity in the last four years,” said 2025 LSTAR Chair Dale Marsh. “Based on the economic climate across the country and the uncertainty in the marketplace, many potential buyers remain on the sidelines. This is evident by the 5.7 months of inventory in November, which is the highest inventory level recorded in the month, over the past 10 years.”

LSTAR says the average sales price also remained “virtually unchanged” from the previous month, with November’s average price of $604,994 compared to October’s average sales price of $605,560.

While housing sales typically slow down in the winter months, Marsh says with the current amount of inventory on the market it might be an opportune moment for buyers.

Here is the average price of a home across the region for November 2025

• Central Elgin - $658,179
• London East - $472,913
• London North - $651,863
• London South - $625,514
• Middlesex Centre - $968,464
• St. Thomas - $572,799
• Strathroy-Caradoc - $595,768

According to a study by Altus Group, the average housing transaction in Ontario generated an average of $124,200 in spin-off spending per transaction between 2022 and 2024. These expenses include legal fees, appraisers, moving costs, new appliances, and home renovation expenses.

“In November, more than $61 million in spin-off spending was potentially generated,” Marsh said. “This reinforces why housing is so important as an economic engine to our entire community.”

The average benchmark for price for a home in Canada is $663,900, whereas Vancouver remains top of the list at $1,123,700. London St. Thomas ranked 18^th on the list, out of a total of 25 regions across the country.