Real estate fence sitting in Canada seems like a pastime for anybody thinking of buying or selling a home. Why? Is it a buyer’s market or a seller’s market? Are prices too high? Are they unaffordable? Interest rates going up or down?

If Numbers Do Not Lie, Is It How The Numbers Are Created or Interpreted That Is Wrong?

I talk to buyers and sellers, Realtors, and mortgage brokers daily about the London, Ontario real estate market. At the end of most conversations, I ask, “Where did you get this information from?”

Now, perceptions of reality come to the forefront, reminding me of a quote from Miles Kington: “knowledge is knowing that a tomato is a fruit. Wisdom is not putting it in a fruit salad.”

• Opinions are not facts.

• Biases are not facts.

• Are perceptions facts? Beliefs? Emotions? A gut feeling? Social media? Dreamers?

Where Do The Real Real Estate Facts Come From?

• In London Ontario, The London Ontario St. Thomas Association of Realtors (LSTAR).

• For Canada and all the Provinces: Canadian Real Estate Association (CREA).

• However, from the two above, the numbers are at least one to two weeks old and are history. What was, is, today?

• Your local Realtor, if he or she is in the market every day, talks to a minimum of 10 people a day about real estate and will tell you what is for sale today, what the prices are today, what sold today, and what did not.

Where Not To Base a Decision About Real Estate

• Social media.

• Your neighbours, your co-workers, your mechanic, your hairdresser, your pickleball friends or your golf friends.

• Economists.

• Provincial or Federal Government Forecasts.

• Bank of Canada Forecasts.

• Your financial advisor or pastor.

Now, you may think I am biased as I am a Realtor in London, Ontario. Nope, I am a realist. I know where the majority of people get their advice from, and when that advice is wrong, it is the real estate market’s or the Realtor’s fault.

In summary, real estate fence sitting could end up being a pain in the butt! Or not!

There are many opinions on where the London, Ontario real estate market is heading. There are the pessimists and the optimists, the fearmongers, the “the sky is falling” crowd, and the “I don’t care” crowd!

I have included below a few facts (the truth) about the London and area market as of April 30. Briefly explain the facts and how to respond to them. Predictions are for those with nothing valid to say; hence, verbal diarrhea.

Average home price

• North London: $724,739

• South London: $684,335

• East London: $514,004

• St. Thomas: $574,887

• Central Elgin: $641,445

• Strathroy-Caradoc: $682.149

April 2025

• Sales: 653, down 14.3% from 2024

• Dollar amount: $427 million, down 14.8%

• New listings: 1,523, down 10.1% 

• Active listings: 2,891, up 19.6%

• Average price: $654,147, down 0.5% 

• Months of Inventory: 4.4, up from 3.2

• Days on the market: 21, up from 16

Year-to-date 2025

• Sales: 2,107, down 19.2% from 2024

• Dollar amount: $1.3 billion;, down 18.4%

• New listings: 5,190, up 1.5%

• Active listings: 2,417. up 22.5%

• Average price: $645,593, up 1.1%

• Months of inventory: 4.6, up from 3.0

• Days on Market: 24, up from 18

The table below displays April’s benchmark prices for all housing types within LSTAR’s jurisdiction and compares them with those recorded in the previous month and three months ago.

Meaning?

For Sellers:

• With 2,891 properties for sale, buyers have choices. Most can read, listen to, or watch the news and feel they have an advantage in the price they are willing to pay.

• It behooves a home seller to understand that other homes compete with yours. You may feel your place is a castle, but buyers won’t.

• Buyers know prices. They view 6-10 homes, price, condition, and location matter.

• There are buyers out there; attract the right buyer. How? My home seller guide has quite a few tips and ideas.

For Buyers:

• Know what is out there and what you can expect for your budget.

• Fully understand that over 60% of homes listed for sale are priced right, and the only loser in lowballing a seller is you.

• Yes, there will be sellers who must sell, have to sell, but they are in a minority.

• Remember, you are buying a home, a place you can come home to and live in; real estate property is not a commodity. A few home buyer ideas in this market.

The chart below shows the most recent HPI benchmark prices across Canada. Vancouver has now overtaken Oakville with the highest home price in Canada, with a MLS® Home Price Index Benchmark Price of $1,184,500.

According to a recent study1 by Altus Group,

Have you considered who would buy your home in London, Ontario, if you were to sell? How could you attract the right buyer who would love your place and pay your desired price?

One of the biggest downfalls I see when selling a house or a condo in London, be it through a real estate brokerage or a For Sale by Owner (FSBO) company, is that most marketers & Realtors  think that if they do the following:

Why am I not getting any offers on my home in London Ontario?

• Put a for-sale sign up?

• Put it on MLS, Kijiji, or Facebook?

• Take pretty pictures (or doctor them)?

• Make up some fancy brochures?

• Maybe run an ad in a glossy magazine that is one month too late, a newspaper ad ( called tombstone ads for a reason), or a giant ad with the Realtor’s picture larger than the home?

• Do an Open House? (Less than 1% of houses sold are through an open house!)

  Who is going to buy your home? Marketing to that group, in other words, focusing on the type of buyer your home will attract, is beneficial and works!

Don’t Worry About How, It is Who!

  For example, if you have a four-bedroom, two-car garage house close to good schools, of course, you would market it to families, not to empty nesters or single people. Or, if you have a one-floor, two-bedroom condo in an upscale London neighbourhood, you would not market it to a family of four!

   Focus, narrow down, focus, focus, & clarify!

  Most homebuyers view between 10 and 16 homes in London, Ontario. They are aware of other homes’ prices and conditions similar to yours. If they have a top-notch Realtor helping them, they laser-focus on the house that fits their client’s budget and criteria. They do not get lost in the bling and shine of properties that do not meet their client’s profile.

You can have the fanciest billboard in the world, but if it is in the middle of the Sahara desert, who will see it? If they did, how many miles and hours will it take to get to London, Ontario, to see it? (I googled it, 9519 KM)

  I hope this and other tips are helping you get your home ready to sell. Your thought processes should be clearer. Though selling a home creates anxiety, if systems are in place and your what-ifs are covered, your home will sell!

All you have to do next is choose wisely who will help you make it all happen.

House Seller Tips Condo Seller Tips