Timing the real estate market to sell or buy a house or a condo in London, Ontario is a guessing game. If anybody tells you differently, run, don’t sign anything!
The market doesn’t care when we want to sell or buy, which is why so many quality and well-located homes end up on the market longer, or, heaven forbid, unsold!
I learned a long time ago there are things I can control and things I cannot, and the market is not in your or my control.
You are the market.
There may be five like you or a hundred, but they are not the market.
Since we can’t control what others think, feel, or do, we can control what we do. You control your mindset, the strategies you set, and the knowledge you have or think you have.
Circumstances happen.
If you are a Snowbird and want to sell your place in Florida in 2025, you may face the situation of ten or more of your neighbours who also want to sell. You cannot control their motivation on price and risk, only yours. If you are committed to getting out, commit and pay the price.
You decide to list your condo for sale at a price you feel is justified. A week later, another one gets listed for 15% higher or lower. What can you control?
When interest rates were below 2%, you waited because you thought they would go lower. When they were 4.5%, too high, you waited, and on and on it goes. Merry-go-rounds are for children, not you.
The greatest opportunity expense is time.
Yes, I am a Realtor and cannot control the market. Timing the real estate market is not in my realm of expertise. If I have an opinion, in reality, it is a guess. What I can control is my work ethic, values, learning, adapting and patience.