Why Did Exeter’s Average Home Price Jump $35,000 in One Month?

If you saw a report claiming Exeter home prices jumped nearly nine percent between July and August you might feel like you missed your chance. Here is what actually happened. Exeter had exactly three freehold sales in July with an average close price of $405,000. In August that number rose to seven sales averaging $440,857. That swing was not a sudden boom in the market. It was the natural result of a small sample size. When only a handful of homes sell in a month the average gets pulled around by whichever properties happen to close, whether that is a modest starter bungalow or a larger family home with a double garage. The actual value of real estate in Exeter held steady through the summer. Understanding this low volume illusion matters because it stops buyers from panicking and overpaying based on a headline number that does not reflect what is really happening on the ground. It also means a lower month should not be read as a discount either. Three sales one month and seven the next tells you more about which homes happened to close than where prices are actually headed.

What Is Happening With Freehold Inventory Across Our Small Towns?

The real story of late summer 2026 is not price. It is inventory. Through August buyers pulled back to enjoy the last weeks of summer while sellers kept listing their homes and that combination built up available inventory across the region. In Lucan freehold inventory climbed from 0.58 months of supply in July to 1.32 months in August, more than doubling the number of homes on the market for buyers to consider. Strathroy saw a similar shift, moving from 0.54 months of inventory in July to 0.95 months by August. Both towns are still moving faster than London, which sat at 1.60 months of inventory in August, but the gap has narrowed and that means real choice for buyers who have been waiting on the sidelines. A rising month of inventory number is not a warning sign in these towns. It simply means there are more homes to walk through and fewer other buyers competing for each one.

Why Is September the Best Window of Opportunity This Year?

More listings and fewer active buyers add up to real leverage for anyone ready to move now. Sellers who listed in August and have not sold yet are watching the summer market slip away, and that motivates them to negotiate on price, closing dates and conditions rather than wait for a slower fall market. Entry points in these towns remain far more attainable than in the city. Exeter’s median close price sat at $467,000 in August, well below what a comparable freehold home costs in London. If you have been holding off on a freehold home in Lucan, Strathroy, Exeter or another small town near London, this is the window with the most selection and the least competition we have seen all year.

If you’re weighing a move from London to a small town nearby, our City to Small Town page walks through what to expect.

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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.