Ontario

London Retail Market Report 2025 — Prices, Cap Rates & Trends

In the London retail market, the median recorded sale price is $2,145,000, across 139 recorded transactions, between 2021-09-24 to 2025-12-25.

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$2.1M

Median sale price

139

Recorded transactions

-15.8%

YoY change in median

Price distribution

Where London retail sale prices sat across 139 recorded transactions.

Median sale price by year

5 of 5 years in the window carried enough recorded sales to plot a median for London retail.

Recorded transaction volume by year

Year	Recorded transactions
2021	3
2022	14
2023	33
2024	40
2025	49

This market vs. Ontario overall

Metric	London	Ontario
Median sale price	$2,145,000	$2,194,500
25th percentile	$1,383,050	$1,325,000
75th percentile	$5,756,250	$4,750,000
Recorded transactions	139	29,749
Year-over-year change	-15.8%	-5.5%

Asset classes in London

Asset class	Median price	Transactions
Industrial	$2.7M	115
Land	$3.3M	94
Multifamily	$2.2M	198
Office	$2.4M	71
Other	$1.8M	188
Retail	$2.1M	139

Retail across Ontario markets

Market	Median price	Transactions
Barrie	$2.6M	52
Belleville	$1.4M	26
Brantford	$1.7M	47
Greater Sudbury	$1.9M	37
Guelph	$2.4M	39
Hamilton	$1.7M	223
Kingston	$2M	57
Kitchener-Cambridge-Waterloo	$2M	158
London	$2.1M	139
Oshawa	$2.2M	72
Ottawa	$2.6M	199
Peterborough	$2.2M	27
St. Catharines-Niagara	$1.6M	151
Thunder Bay	$1.3M	25
Toronto	$2.1M	1,287
Windsor	$1.6M	102

Rental market context

The CMHC Rental Market Survey reports a 4.0% purpose-built rental vacancy rate for London (2025). This is residential rental context, not a commercial metric.

Recent recorded sales

Month	Area	Price band	Type
2025-12	London, ON	$3.5M–$4.0M	Retail
2025-12	London, ON	$1.0M–$1.5M	Retail
2025-11	London, ON	$7.0M–$8.0M	Retail

Municipality, month and price band only.

Common questions

What is the median retail sale price in London?

$2,145,000, across 139 recorded transactions in our dataset.

Are London retail prices rising or falling?

The median recorded sale price changed -15.8% year over year in the most recent full comparison.

Methodology

This page draws on 139 recorded commercial transactions in London between 2021-09-24 and 2025-12-25, from the EVALUAITE Market Intelligence dataset. A city and asset class is published only once it carries at least 50 recorded transactions.

Too few of these sales reported a cap rate to publish a range, so none is shown. All 5 years in the window carried enough sales to plot a median. The year-over-year comparison had enough sales on both sides to compute. CMHC rental context is available for this market.

Prepared by the EVALUAITE Market Intelligence team.