April 2025 Market Snapshot: London & St. Thomas Real Estate Update
The latest stats are in—and they paint a dynamic picture of our local real estate market as we move into spring. Here’s a breakdown of what’s happening across the London and St. Thomas region as of April 2025.
🔻 Home Sales Cool, Inventory Builds
Home sales were down this April, with just 653 residential properties sold, a 14.3% decrease from April 2024. This continues a broader trend, as year-to-date sales are down 19.2% compared to the same period last year.
However, inventory levels are rising, giving buyers more options. April ended with 2,891 active listings, marking a 19.6% year-over-year increase. This translates to 4.4 months of inventory, up from 3.2 months a year ago—shifting the market gradually toward more balanced conditions.
📉 Average Home Prices Stabilizing
The average home price in April 2025 across the region was $654,147, showing only a slight dip of 0.5% from last April. The median price came in at $605,000, down 1.6% year-over-year. While prices are slightly softer, they remain significantly higher than pre-pandemic levels, reflecting long-term growth.
Single-family homes averaged $700,932 in April, while townhomes came in at $525,225, and apartments averaged $438,648—interestingly, the only segment to show a price increase (+6.8%) year-over-year.
📊 Market by Property Type
Single-Family Homes: Sales dropped 15.9%, while listings increased slightly. Average prices declined 1.3%compared to April 2024.
Townhouses: Sales fell 10.7%, but demand held firm with a strong sale-to-new-listings ratio of 52.4%.
Apartments: This segment saw the steepest sales decline (-15.9%) but the highest average price gain—suggesting growing interest in more affordable, lower-maintenance housing.
🏙️ Spotlight on London
London itself experienced a 16.4% drop in sales, with 422 homes sold. Inventory rose significantly (+26.4%), and the average home price in London sat at $652,745, up 0.7% from April 2024.
⚖️ Market Balance Is Shifting
The sale-to-new-listings ratio dropped to 42.9% in April 2025, a key sign that the market is becoming less competitive for buyers. The average home sold for 98.3% of list price, with homes taking a median of 21 days to sell—up from 16 days last year.
💡 What This Means for You
Buyers: More choices, less urgency. This could be a great time to explore the market with less pressure and more negotiating power.
Sellers: Pricing strategy is key. With longer days on market and fewer bidding wars, correct pricing and quality marketing matter more than ever.
