Is Now a Good Time to Sell?

I hear the same question at almost every coffee shop and kitchen table in London lately. People want to know if they’ve missed the window or if they should keep waiting for something to shift. The reality is that the London market is finally catching its breath. After a few years of high-speed chaos, we are seeing a spring market that feels much more grounded.

Is now a good time to sell a house in our neck of the woods? The answer depends less on the national news and more on what is happening in neighborhoods like Wortley Village, Byron, or Stoney Creek. Right now, activity is picking up. We saw nearly 600 homes change hands last month. That tells me buyers are out there, they are just being more selective than they used to be.

Understanding the London market balance

We are currently sitting in what we call a balanced market. In March, the average sale price in London was around $627,112. While that is a slight climb from the winter months, it is still a bit lower than where we were this time last year. Look, the days of putting a sign in the yard and getting twenty offers by dinner are mostly behind us.

Here’s the thing: inventory is up. We have about 4.7 months of supply on the market right now. For a seller, this means you have more competition. Buyers have the luxury of taking a breath and comparing your home to the one down the street. That matters because your strategy has to change. You can’t just rely on market heat to carry the sale.

Pricing and patience in today’s climate

If you decide to list, you need to be prepared for a different pace. On average, homes are selling for about 2.6% below the asking price. That isn't a sign of a crash, but it is a sign of a correction in expectations. Most homes are sitting for about 25 days before they see a firm offer.

That isn't a long time in the grand scheme of things, but if you’re used to the three-day turnarounds of 2022, it can feel like forever. Success today comes down to two things: presentation and realistic pricing. If the house looks great and the price reflects the recent sales on your specific street, it will move.

There is no universally perfect time that applies to everyone. If you are looking to downsize or move to a different part of the city, the "loss" you might take on your sale is often made up by the "gain" you get on a more affordable purchase. It’s all relative. We can’t predict exactly where interest rates or inventory will be in six months, but we do know that the current market is stable and predictable. For many families in London, that stability is worth more than trying to gamble on a future peak.

Frequently Asked Questions

1. Are buyers still asking for home inspections in London?

Yes. In a balanced market, most buyers include an inspection condition. It is a standard part of the process again, and it’s a good thing for everyone's peace of mind.

2. Which property types are moving the fastest right now?

Single-family detached homes are still the most active, while the condo and apartment market has seen a bit more of a slowdown in pricing lately.

3. Should I renovate my kitchen before listing this spring?

Usually, a deep clean and fresh paint offer a better return than a full renovation right now. Buyers are looking for value, not necessarily luxury upgrades they didn't choose.

4. How does the 4.7 months of inventory affect my sale?

It means buyers don't feel "rushed." They will likely visit your home twice and look at three others before making an offer. Your home needs to stand out on value.

5. Is London seeing a lot of out-of-town buyers still?

We still see interest from the GTA, but it’s more balanced now with local families moving within the city. The "commuter" rush has leveled off into a more steady stream.

If you’re curious about what your specific home might be worth in today’s market, I’m happy to chat. No pressure and no sales pitch—just a look at the data in your neighborhood so you can make a decision that feels right for you.