Why Do We Use Median Prices Instead of Averages?

When you see average home prices in a real estate report, you are not seeing what a typical buyer actually paid. The average is calculated by adding up every sale price and dividing by the total number of transactions. One high-end rural estate or luxury new build closing at the top of the market can pull that number significantly higher, making a community look far more expensive than it actually is.

The median is the middle of the market. If you lined up every freehold sale from the lowest price to the highest, the median is the home right in the centre. Half of all homes sold for more, and half sold for less. It is the most honest number to plan a real buying budget around.

The difference is most visible in smaller communities where sales volume is lower. In Komoka and Kilworth during June 2026, the average close price was $1,011,583 while the median was $874,911. That is a gap of over $136,000. A buyer looking only at the average might rule out a market they could actually afford.

How Did the Four Markets Actually Compare This Summer?

All data below is drawn from MLS freehold sales for June, July and August 2026.

Community	June Median	July Median	August Median	3-Month Avg. MOI
London	$605,000	$613,500	$620,000	1.25 months
Komoka / Kilworth	$874,911	$843,000	$934,000	0.81 months
Strathroy	$610,000	$551,400	$555,000	0.62 months
Exeter	$605,000	$425,000	$467,000	0.88 months

London held steady across the summer, with the median freehold price rising from $605,000 in June to $620,000 in August. Inventory climbed alongside it, reaching 1.60 months by August, which gave buyers more time to evaluate options and more homes to choose from than earlier in the year.

Komoka and Kilworth carried the premium price point in this group. The August median reached $934,000 and inventory averaged just 0.81 months across the summer, meaning homes moved quickly. This market draws buyers looking for newer builds and a premium lifestyle within easy reach of the city.

Strathroy delivered the most compelling value story. The August median was $555,000, a savings of $65,000 compared to London in the same month. Despite that price advantage, Strathroy ran the tightest average inventory of the four communities at 0.62 months across the summer. The town has its own hospital, major shopping and larger freehold lot sizes. More for less, and buyers clearly know it.

Exeter was the most accessible market in the comparison. The July median sat at $425,000 and August came in at $467,000. That entry point draws intense competition. Exeter finished the summer with just 0.52 months of inventory in August, the tightest single-month reading of any market in this group. If you are looking in Exeter, being pre-approved and ready to move is not optional.

What Do Months of Inventory Tell You About Your Timeline?

Months of inventory (MOI) measures how long it would take to sell every active listing at the current pace of sales, assuming no new homes came to market. It is the most direct signal of how competitive a market is right now.

Below one month is a seller’s market. Buyers are competing and conditions are tight. Between one and four months is balanced. Above four months begins to favour buyers.

Every community in this comparison spent most of the summer below one month of inventory. Even London, the largest market of the four, averaged 1.25 months across the period. The clear takeaway is the same in all four communities: preparation matters more than hesitation.

Which Community Fits Your Budget and Buying Strategy?

Budget is the starting point but it is not the only factor. A market with a lower median price and 0.52 months of inventory may demand faster decisions than a higher-priced market where you have more room to think. Understanding both what you can afford and how quickly you need to act in a given community is the foundation of a smart fall game plan.

Exeter fits buyers who need to stay under $500,000 and are ready to move when the right home appears. Strathroy suits buyers who want community amenities, meaningful savings over London prices and larger lot sizes. Komoka and Kilworth work for buyers who want a premium suburban lifestyle and are comfortable with a higher price point. London gives buyers the widest inventory and the most time, though the city premium is real and consistent.

If you are thinking about leaving London for one of these small towns, our City to Small Town guide walks through what to expect from the process, community by community.

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Written by Shawn and Angela Westerik | Shawn and Angela have been helping buyers and sellers across London and Southwestern Ontario for over 45 years combined. They run Community Real Estate Group, brokered by eXp Realty, and are known for their deep local knowledge of the region’s small towns.