This is a historical snapshot — London, Ontario, for May 2025. Markets move month to month. For current stats and my honest read on where each part of the city is actually heading, see my London neighbourhood market updates — ten neighbourhoods, refreshed monthly. Or for what your specific home is worth in today's market, reach out for a personal analysis. No pressure, no pitch.

What a great time for home buyers in London, Ontario, and the surrounding area. With a 15.3% increase in new listings, active listings increased 26.5% in May!

I say this because prices rose by 1.4% in May, which is below the inflation rate.

We have all read about people buying when everyone else is selling and selling when everyone else is buying. When the stock market plunged, smart money bought or averaged out their investments.

Some will say it takes nerves to do that; it is risky. What if prices go down, interest rates go up, it will be too warm tomorrow, or it might rain, or, worst of all, not everybody is doing that, so I will stick with the herd, but not try to look and behave like the sheep!

The May 2025 London, Ontario & Surrounding Area Real Estate Market

The table below displays May’s average prices and MLS® HPI Benchmark Prices in LSTAR’s (London St. Thomas Association of Realtors) central regions.

The HPI benchmark price reflects the value of a “typical home” for buyers in a given area, based on various housing attributes. In contrast, the average sales price is calculated by summing the sale prices of all homes sold. Dividing that total by the number of homes sold. The HPI benchmark price helps gauge trends over time, as averages may fluctuate due to changes in the mix of sales activity from month to month.

In May 2025, the MLS® Home Price Index Benchmark Price for the London and St. Thomas area showed varied trends. The composite benchmark price was $593,900. Reflecting a slight increase of 0.8% from the previous month. A decrease of 4.5% over three months and 2.2% over twelve months.

Single-family homes had a benchmark price of $651,500, up 1.6% from last month. A 13.6% decline over the past three years!

One-storey homes saw the most significant monthly increase, up 3.5% to $602,700. Two-storey homes rose modestly by 0.6% to $691,700.

If You Are Thinking of Buying, This is a Great Time

Townhouses and apartments experienced declines. The benchmark prices of $488,200 and $369,500, respectively, indicate a challenging market for these property types.

Over the past five years, one-storey homes have grown the fastest, up 55.9%, highlighting long-term appreciation in this segment.

The following table displays May’s benchmark prices for all housing types within LSTAR’s jurisdiction. Showing how they compare with those recorded in the previous month and three months ago.

In summary, what to do? To Sherlock Holmes: “The world is full of obvious things which nobody by any chance observes”!

What Prudent Home Buyers Do

Also find me at tylacroix.com and Totally Preachless

Before buying or selling a home in London, Ontario, most people try to understand the market through Realtor.ca, open houses, economists, news headlines, and opinions from anyone they trust. None of those sources give you what actually works: firsthand experience of the market itself. We call it market education — viewing three or four properties similar to what you're buying or selling, with no obligation, no pressure, and no chequebook in sight. Past clients consistently say it was the single thing that made their eventual decision clearer and less stressful. Ty Lacroix and Michael Theisen, with The Envelope Real Estate Group, have offered this approach to London buyers and sellers for years — because an informed client makes a better decision, every time.

Would you like to better understand the London, Ontario real estate market — and stop being swayed by opinions from well-meaning people who don't actually know?

Here's a partial list of where most buyers and sellers try to get their market intelligence:

Scrolling through Realtor.ca or a real estate website. Attending open houses. Listening to what economists say or predict. The local newscast or newspaper. National averages, or what's happening in the GTA or Vancouver. Your parents. Your children. Your relatives, coworkers, pickleball friends, golf buddies, church members, and neighbours. Your bank representative, mortgage broker, realtor, financial advisor, lawyer, doctor, hairdresser, barber, plumber, or electrician. The doom-sayers. And anyone else you've decided has their act together.

Some of these sources are useful for context. None of them tell you what the London market actually feels like — what homes in your price range and neighbourhood really look like in person, how they compare to each other, and what a realistic expectation should be before you're sitting across from a seller with a deadline on an offer.

What We Actually Do — And Why It Works

We call it market education, and it looks like this: before you buy, sell, or commit to anything, we take you out to view three or four properties similar to what you're looking for — or similar to your current home if you're selling.

Not to make an offer. Not to buy anything. Just to learn.

The goal is simple: when you're ready to act, you'll already know what to expect. You'll have seen the market with your own eyes, not through someone else's filter. You'll be able to clarify what you actually want versus what you thought you wanted — and you'll be genuinely prepared to make a good decision rather than a reactive one.

Here's what market education is not:

No obligation on your part — no signing anything, just an old-fashioned face-to-face meeting that past clients consistently say helped them more than anything else in the process.

No chequebook required — you're here to learn, not to buy.

No "we're number one, we sell gazillions of homes" performance.

No miracle promises about finding your dream home for half the price.

No pressure, no coffee-and-a-pitch, no "buy from me, I'm a neighbour, a friend, I'm honest" routine. You're not bringing your chequebook, and we're not bringing ours.

Does It Work?

Here's what two past clients said after going through it:

"Ty, your market education system is wonderful!" — Marilyn Cuthbert

"Ty, you made our decision so much easier with your market education, thank you." — Philip Rosenburg

Market education requires a commitment of time and energy from both sides — from you and from us. We take it seriously because clients who arrive at a transaction informed and clear-eyed consistently have better experiences and outcomes than those who are figuring it out under pressure.

Michael Theisen, Sales Representative with The Envelope Real Estate Group, was trained in this approach and offers the same market education for buyers working with him. The same standard, the same no-pressure format, the same goal: clarity before commitment.

If you're trying to understand what the London market actually looks like before you make a move — with no obligation and nothing to sign — that's exactly the conversation to start with.

Ready to see the market for yourself before you decide anything? Book a private, no-obligation market education session — no pressure, no pitch, no chequebook required.

Also find me at tylacroix.com and Totally Preachless

In a buyer's market, many buyers and their agents use a blanket low-offer strategy regardless of a home's actual value — and it's costing them. Not every home in London, Ontario is overpriced. Some are genuinely well-priced, upgraded, and sitting on the market simply because buyers are comparing them to inferior sales from months earlier rather than properly reading the current comparable data. A real example: a buyer who refused to pay $650,000 for a superior townhouse ended up paying $595,000 two weeks later for an older, lesser unit with $285 higher monthly condo fees. The market offers real opportunity right now — but only to buyers who can tell the difference between an overpriced home and one that's genuinely worth what it's asking. Ty Lacroix, Broker at The Envelope Real Estate Group, has spent 24 years helping London buyers find that difference before it costs them.

Not all homes in London, Ontario are overpriced. Yes, we're in a buyer's market — but that doesn't mean every seller will or should reduce their price, and treating the market as if they all should is costing buyers real money.

Some sellers have genuinely overpriced their homes. That's true. But comparing those listings to ones that are priced correctly, and applying the same low-offer logic to both, is what economists might call throwing the baby out with the bathwater — and it's distorting buyer decision-making in a way that consistently leads to worse outcomes for buyers themselves.

Here's a concrete example.

A Tale of Two Units

A townhouse condo is listed for sale at $650,000. It's the only available unit in its enclave. Five months earlier, one sold in the same complex for $565,000.

The immediate reaction from most buyers and their agents is that the $650,000 unit is overpriced.

Before accepting that conclusion, I looked at what the $565,000 sale actually was:

The seller was in financial difficulty and needed to sell quickly or risk losing the property to the mortgage holder. The listing had nine photos, no video, and no floor plans. No status certificate was provided — the buyer was responsible for ordering one themselves. It had been listed at $639,000 originally, cancelled, reduced, and expired three times before finally selling. Everything inside was original from the builder with no upgrades. The listing agent was based in the GTA, and the only way to book a showing was through a brokerage switchboard — usually an answering service — then waiting hours for a callback, sometimes days by email. The unit was vacant and dusty, with a stale odour. The rugs were slightly soiled and the walls needed paint.

Now the $650,000 unit:

Upgraded throughout — high-quality flooring, lighting, window coverings, and appliances, professionally decorated. One additional bathroom. A backyard view of green space rather than a six-foot concrete wall.

Other units that sold in that enclave through 2024 ranged from $619,000 to $640,000. The $650,000 unit, with its extra bathroom and full upgrades, was priced at a premium over that range — but a defensible one when the comparables were read properly.

What Actually Happened

A buyer viewed the $650,000 unit, appreciated it, but concluded it was overpriced because a unit there had sold five months earlier for $565,000. An offer of $575,000 was made and refused — the seller and their agent considered it insulting given the unit's condition and upgrades. A verbal counter of $589,000 was declined.

Two weeks later, that same buyer purchased a unit in a different part of London for $595,000. It was older, in lesser condition, and carried monthly condo fees $285 higher than the unit they'd walked away from.

Who came out ahead?

The buyer paid more per month, got less quality, and walked away from a genuinely superior asset because they applied a blanket low-offer strategy without reading what actually drove the earlier $565,000 sale. The "overpriced" unit wasn't overpriced. It was correctly priced for what it was — and the buyer who understood that would have gotten the better home at a comparable net cost.

What This Means Right Now

The current London market is a genuine opportunity for buyers. There is real softening, and there are homes that are genuinely overpriced. Those sellers, if they're serious about selling, will eventually have to adjust.

But there are also sellers whose homes are priced accurately, who are not in a hurry, and who have no reason to negotiate below market value just because the broader market has softened. Those sellers will wait for the buyer who does their homework. And they'll find that buyer — while the buyers playing a blanket low-offer game miss the value that was right in front of them.

I see well-priced homes and condos sitting on the market regularly, waiting for the buyer with enough market knowledge to recognize value when it's there. If you want to be that buyer — the one who identifies real opportunity instead of chasing inferior alternatives at a comparable price — that's exactly the kind of guidance worth having before you write your next offer.

Oh, by the way, I sold that $650,000 unit for $649,000!

Want to know the difference between a home that's overpriced and one that's genuinely worth it? Reach out for a private conversation — no pressure, no pitch.

Also find me at tylacroix.com and Totally Preachless

The moment a house starts feeling like too much — too many rooms, too many stairs, too much garden, too much upkeep — is the moment worth paying attention to. Most people who downsize say they wish they'd started thinking about it earlier. The clients who plan two to three years ahead consistently have better outcomes, more choices, and less stress than those who wait until circumstances force a decision. Ty Lacroix, Broker at The Envelope Real Estate Group, has helped hundreds of London families navigate this transition — and knows the difference between a move that goes smoothly and one that doesn't comes down almost entirely to when you start the conversation.

Are you finding your house too big? Do you no longer need all that space — or is the upkeep and cleaning becoming more of a chore than a comfort?

Maybe it's something more specific. The stairs are becoming a challenge. The garden that used to bring you joy now feels like an obligation. The carrying costs — property tax, maintenance, utilities — are climbing while the rooms sit empty. Long-time neighbours have moved, and the street feels different. Or you're simply ready to free up the equity you've spent decades building and put it toward travel, family, or a simpler life.

These are the things clients tell me. And what almost always holds them back isn't the logistics — it's the emotional weight of a home that holds memories and feels deeply familiar, even when it no longer quite fits.

Noah did not begin building the ark while it was raining.

When to Start Thinking About It

I won't add to the million-plus articles already on Google about the social and financial options available when your house feels too big. You also don't need more opinions from your children, relatives, accountant, financial advisor, church group, golf buddies, or the unwashed. What you need is a clear, honest process — started at the right time.

As a broker, I strongly recommend beginning to think seriously about a move within a six- to twelve-month timeframe. But my most satisfied clients — the ones who feel genuinely good about the outcome — are the ones who started the conversation two to three years before they actually moved.

That timeline gives you room to make decisions without pressure. You can prepare the home at your pace, not under a deadline. You can explore your options — bungalow, townhome, condo, a different neighbourhood — without the anxiety of an urgent timeline. And you can make sure the financial picture is clear before you commit to anything.

What a Planned Move Looks Like vs. a Rushed One

I've guided hundreds of London families through this transition. The moves that go smoothly share one common thread: they were planned. The ones that don't — where sellers leave money on the table, or end up in a situation that wasn't quite right for them — almost always started too late.

A proven process works far better than winging it. That's not grandstanding — it's just what the pattern shows, consistently, over 24 years.

If you're thinking about a move now, or sometime in the next few years, the best time to have a first conversation is before anything feels urgent. You're under no obligation when you reach out. Nothing to sign, no pressure — just a brief, honest conversation to see whether we're on the same page and what a timeline might look like for your specific situation.

Thinking about downsizing in London — now or down the road? Reach out for a private conversation — no obligation, nothing to sign, no pressure.

For the complete downsizing framework: Downsizing Your Home in London, Ontario →

Also find me at tylacroix.com and Totally Preachless

Every home purchase has three sides: price, location, and features. The conventional wisdom — repeated by most buyers and most agents — is that you can only satisfy two of the three. Pick the right location at the right price and sacrifice features. Get the features and location you want and pay more than you planned. Most buyers accept this trade-off as a given. After 24 years in this market, I don't. A motivated, patient buyer working with someone who knows the market and has systems in place can often get to 90% or better on all three sides — which beats settling for two every time. Ty Lacroix, Broker at The Envelope Real Estate Group, and Michael Theisen have spent 24 years helping London buyers find homes that don't ask them to give up what matters most.

Every home purchase has three sides. Price. Location. Features. The conventional wisdom — accepted by most buyers and repeated by most agents — is that you can only satisfy two of them. The third always gives way.

I strongly disagree with that as an absolute rule. A motivated, patient buyer working with a broker who knows the market and has proper systems in place can often satisfy all three — maybe not 100% on each, but 90% across all three beats 100% on two and nothing on the third every time. As a buyer in London, Ontario, I suspect you'd agree.

Here's how each side actually works in practice.

Price

Price is what you're qualified for — not what you wish you could spend, and not what a seller wishes you'd pay. If you're approved to buy up to $800,000, looking at homes priced at $900,000 leads to one of two outcomes: you discourage yourself before finding anything you can actually have, or you end up making an offer that requires $80,000 to $100,000 off the asking price, which most sellers at that price point will find insulting regardless of market conditions.

That said, I've seen sellers with unrealistic expectations drop their price by $100,000 or more after months of no showings and no offers. A reasonable buyer working with a reasonable seller can make the price side of the pyramid work. The key word on both sides is “reasonable”.

Location

Location may be the most important side of the pyramid for most buyers — and the one least worth compromising. Regardless of price or features, if you don't feel right about where a home sits, you won't buy it, and you shouldn't. Your comfort with the neighbourhood, the street, the commute, the proximity to family or amenities — these things don't improve after you move in. They're fixed. Get them right.

The good news is that London's established neighbourhoods — Byron, Westmount, Riverbend, Old South, Sunningdale, Lambeth, and others — offer genuine variety across different price points and feature profiles. Location doesn't have to be the side that breaks the pyramid. It has to be the side you're clearest about before you start looking.

Features

What are your must-haves? What would be nice? What genuinely doesn't matter? Most buyers arrive at this conversation with a long list that hasn't been ranked — and then spend showings reacting to homes emotionally rather than measuring them against what actually matters.

Here's the practical approach: draw a line in the sand on your true must-haves. One bathroom or two. Main-floor bedroom or not. Garage or no garage. These are non-negotiable. Everything else — the kitchen style, the basement finish, the backyard size — belongs on a separate list, one you can trade against without compromising what you actually need.

I have yet to find a home that checks 100% of anyone's boxes. The buyers who do best are the ones who know which boxes are load-bearing and which ones aren't.

Why All Three Are More Achievable Than Most Buyers Think

The reason buyers are told to accept two out of three is usually one of two things: either the search is being run too narrowly, or the buyer hasn't been clear enough with themselves about what's truly non-negotiable versus merely preferred. When price, location, and features are defined properly — not as a wish list, but as a ranked set of real priorities — the number of homes that satisfy all three expands meaningfully.

If you're finding it genuinely difficult to locate the right home in London, one of the three sides isn't aligned. That's the honest diagnostic. And fixing it almost always starts with a conversation that clarifies which side, and why.

Still looking for the home that checks the boxes that actually matter? Reach out for a private conversation — no pressure, no pitch.

For the complete buyer framework: London Ontario Home Buying Strategy →

Also find me at tylacroix.com and Totally Preachless

Most homes that struggle to sell in London, Ontario have one or more of the same identifiable problems: condition, pricing, marketing, communication, or curb appeal. None of these are mysteries, and none of them are unsolvable — but they require an honest assessment before the sign goes up, not after the listing has been sitting for 60 days. Every home will sell. The question is at what price, in what timeframe, and whether the result reflects what it was actually worth. Ty Lacroix, Broker at The Envelope Real Estate Group, has spent 24 years telling sellers the truth about what's standing between their home and a sale — before it costs them.

Many homeowners in London, Ontario worry they may have difficulty selling their home. Usually, they're right to wonder — and almost always, there's a specific, identifiable reason. Here are the most common ones, and what to do about each.

Older Home Without the Features Today's Buyers Expect

Older character homes have real appeal — roughly 20% of buyers actively seek them out for location, lot size, or architectural character. But many older homes also carry features the other 80% of buyers will quietly pass on: small bedrooms, no walk-in closet, no primary ensuite, a single-car garage. These issues can eliminate a listing from a buyer's consideration before they ever book a showing.

It's worth noting the flip side: sometimes a well-built character home with genuine features is easier to sell than a newer home built with contractor-grade materials that shows its shortcuts under close inspection.

The solution: identify which features of your home don't meet today's buyer expectations. Sometimes a targeted renovation makes sense. Sometimes the right approach is precise marketing to the specific buyer who values what your home actually offers. And sometimes the answer is to adjust the price to honestly reflect the gap rather than pretend it doesn't exist.

Visible Maintenance Issues

Many buyers walk away from homes that appear to need work — even when the work is minor. Flaking paint, a tired lawn, worn carpets, broken fixtures: individually small, collectively they send a signal that the home hasn't been cared for. Larger issues — awkward layout, outdated plumbing or electrical, deferred maintenance — can make selling genuinely difficult regardless of price.

The solution: don't bury your head in the sand. Walk through comparable homes listed in your price range and look at what you're competing with. Or work with a broker who will tell you the truth about what a buyer will see — not what you want to hear.

Price

Overpricing a property deters qualified buyers and leaves the listing sitting on the market, at which point every subsequent showing comes with the question already in the buyer's mind: "What's wrong with it?" For condos specifically, high monthly fees or pending special assessments compound the pricing challenge by directly affecting what a buyer can afford to carry each month.

The solution: price correctly the first time. For condos, consider whether offering a concession toward condo fees makes the monthly cost of ownership more competitive. A strategically priced home from day one almost always nets more than one that starts high, sits, and reduces.

All Homes Will Sell — On These Conditions

Every home will sell. It comes down to price, condition, the buyer's financial position, their comfort with the location, and occasionally third-party noise — fear-mongering from people who've read one too many doom-and-gloom headlines.

I tell every client the same thing: I have no control over the market. But I have complete control over understanding it, positioning your home correctly within it, and taking consistent, appropriate action until the result is achieved.

Poor Communication

Lack of communication is one of the most common — and most preventable — reasons a listing stalls. You and your realtor should not be operating like you're in the witness protection program.

The solution: weekly feedback between you and your broker, minimum. If the same issue keeps surfacing — whether it's a pricing objection, a condition concern, or something specific that buyers mention after every showing — address it. Letting the same problem repeat itself week after week without adjusting is how listings go from stale to expired.

Poor Marketing

If your home isn't getting showings, marketing is the problem. But here's the important qualifier: if the home is overpriced, in poor condition, or poorly located, no marketing can fix that. The outcome will be diddly-squat regardless of how good the photos are.

That said, when the other factors are right, marketing matters enormously. Cell phone pictures won't compete. Professional photography, video, and floor plans outshine the competition nine times out of ten — and reaching the right buyer means knowing who they are, where they search, and how they make decisions, not just blasting a listing at everyone.

The solution: accurate information, no embellishment, and marketing built around the specific buyer your home is actually right for.

Curb Appeal

You have ten seconds — sometimes less — to make a first impression. I've shown hundreds of homes where a buyer lost interest within the first minute of arriving at the property. Whatever happens inside is irrelevant if the outside doesn't invite them in.

For practical guidance on which improvements actually pay off before selling — and which ones quietly cost you money — I have a report that covers exactly that.

The Three Ps That Replace "Location, Location, Location"

That old real estate tagline has had its day. The three things that actually determine whether your home sells — and for how much — are Price, Product, and Promotion. You control the first two. A good broker delivers the third.

If you're thinking about selling in London and want an honest assessment of where your home stands on all three before you commit to anything, that's the conversation worth having first.

Want the honest read on what might be standing between your home and a sale? Reach out for a private conversation — no pressure, no pitch.

For the complete selling framework: Selling Your Home in London, Ontario →

Also find me at tylacroix.com and Totally Preachless

A savvy home buyer isn't the one who moves fastest or knows the most opinions — it's the one who knows what they don't know, gets the right advice before they start looking, and treats buying a home as a process rather than an event. In London, Ontario's current market, the buyers who consistently come out ahead are the ones who did the boring preparation work first: met with their lender, their lawyer, and their broker before walking into a single showing. That preparation is what separates a confident, well-positioned buyer from one who's winging it under pressure. Ty Lacroix, Broker at The Envelope Real Estate Group and Michael Theisen have spent 24 years watching exactly where the difference shows up — and it shows up at the offer table.

Have you ever wondered what a savvy home buyer actually is? Or isn't? Fair warning: I may ruffle a few feathers here.

You Don't Know Everything — And That's Fine

Wise buyers know what they don't know. They then spend the energy to get factual, qualified advice from people who do know — not opinions, advice. You can ask 50 people for their opinion, read 50 articles, or scroll 50 social media feeds and end up with 150 opinions that mostly contradict each other. That's not information. That's noise with a confidence problem.

The Market Isn't as Hard as People Make It

As David Greenspan wrote, the real estate market is hard "because too many people are operating with false expectations, and not enough honest conversations are happening to fix it." Buyers chasing homes they can't afford. Sellers anchored to prices from three years ago. The market itself isn't complicated — the expectations people bring to it are.

Stop Trying to Time the Market

Timing the real estate market is a guessing game. Anyone who tells you otherwise is either misinformed or selling something. The market doesn't care when you want to buy or sell. It moves according to supply, demand, and economic conditions, none of which have anything to do with your preferred timeline.

What you can control is your preparation, your positioning, and the quality of the decisions you make within whatever market exists when you're ready to move. The market is not in your control. Your readiness is.

Understand the Process — Don't Wing It

Buying a home is a process, not an event. It can be exciting, nerve-wracking, hopeful, and stressful — sometimes all within the same 24 hours. That's normal. What's not normal is going into it without understanding how it works.

Realtors, lenders, lawyers, home inspectors, and condo management companies all have their own mandated processes, timelines, and obligations. If you don't understand how those pieces connect before you start looking at properties, you'll be learning them under pressure — which is the most expensive time to learn anything.

The single best thing you can do: meet with everyone who will be involved in your purchase before you walk into a single showing. Your realtor, your lender, your lawyer. Understand the process, the timeline, and what's expected of you at each step. Do that, and you'll walk into your first showing with a genuine advantage over most of the buyers you're competing with.

Be Boring

Talking to professionals before you start looking isn't as enjoyable as driving around visiting properties. It's slower. It feels like preparation rather than progress. It's also the reason some buyers consistently make good decisions while others consistently regret theirs.

Remember the turtle and the hare. Boring wins. Your time invested now comes back to you when you need it most — at the offer table, when decisions are made quickly and the consequences last years.

What to Do When You're Actually Viewing Homes

Once the preparation is done and you're ready to look, here's how to make each showing count rather than letting them blur together.

Bring a notepad. Write down your impressions of each home — what worked, what didn't, what surprised you. After six showings, your memory will start mixing them up. Notes don't.

Bring a measuring tape. Does your furniture fit? Your couch, your dining table, your exercise equipment? Knowing before you make an offer is significantly better than finding out on moving day.

Check out the street and the area. Do the neighbouring homes look well-maintained? What's the noise level at different times of day? Is there a park, a school, or a commercial strip nearby that would affect your daily life? The home is only part of what you're buying.

Know your compromises in advance. Two bathrooms instead of three — can you live with that? No garage? A smaller kitchen? Decide before you're standing in the home, not while you're standing in it. Emotion makes compromise feel bigger or smaller than it actually is.

Know your desirables too. A fenced backyard, good sun exposure, a dining room, a particular neighbourhood feel — these are preferences, not requirements. Keep them separate from your must-haves so one doesn't crowd out the other.

Keep your budget in mind throughout. The right home isn't the most impressive one you see — it's the one that fits your life and leaves room for the updates and repairs every home eventually needs.

The savvier you are as you walk into each showing, the more clearly you'll recognize the right home when it appears.

Ready to approach your home search as a prepared buyer rather than a hopeful one? Reach out for a private conversation — no pressure, no pitch.

For the complete buyer framework: How Buying a Home in London Ontario Actually Works — From First Conversation to Keys in Hand

Also find me at tylacroix.com and Totally Preachless

Timing the real estate market in London, Ontario is a guessing game. Anyone who tells you otherwise is guessing too — they just sound more confident about it. The market doesn't care when you want to buy or sell. It moves according to forces that have nothing to do with your timeline, preferences, or plan. What you can control is your preparation, your mindset, and your decision to act when your circumstances call for it — not when the headlines say it's the right moment. Ty Lacroix, Broker at The Envelope Real Estate Group, has spent 24 years watching buyers and sellers wait for the perfect moment that never quite arrives.

The market doesn't care when you want to move. It doesn't adjust to your preferred timeline, your financial situation, or your comfort level. Quality, well-located homes end up sitting on the market longer than they should, or unsold entirely, not because the market is broken but because the seller's expectations didn't align with what the market was actually willing to pay at that moment.

Here's the most important thing to understand: you are the market. You, and five or fifty or five hundred other buyers and sellers making decisions at roughly the same time, each acting on their own situation, their own emotions, and their own financial position. Nobody controls the market. The market is just the aggregate of all those individual decisions happening at once.

Three Examples of What You Can't Control

The Florida snowbird. You've decided to sell your place in Florida. So have ten of your neighbours. You cannot control their motivation, their urgency, or what price they're willing to accept. Their decisions will affect yours whether you like it or not. What you can control is your own commitment to the outcome — and whether you're genuinely ready to pay the price the market sets, not the one you'd prefer.

The competing listing. You've listed your condo at a price you believe is fully justified by the comparables. A week later, another unit in the same building lists for 15% higher — or lower. You didn't see it coming. You can't undo it. What you can control is how quickly you read the new information and whether you adapt your strategy or dig in stubbornly.

The interest rate merry-go-round. When rates were below 2%, you waited — surely they'd go lower. When they hit 4.5%, you waited again — surely they'd come down. Meanwhile, the right home passed by twice. Merry-go-rounds are for children. At some point the waiting itself becomes the most expensive decision you've made, because the opportunity cost of time is real and it compounds quietly.

What You Can Actually Control

I'm a broker, not an economist, and timing the market is not something I can do. If I give you an opinion about where the market is heading, that opinion is, in reality, a guess dressed up in experience. What I can control — and what any good broker should be focused on — is work ethic, local knowledge, honest advice, and the patience to stay the course when the market doesn't cooperate with anyone's preferred timeline.

The clients who consistently make good real estate decisions aren't the ones who called the market correctly. They're the ones who understood their own situation clearly, made a decision based on their real circumstances, and acted on it without waiting for a certainty that would never arrive.

Ready to make a decision based on your situation rather than the headlines? Reach out for a private conversation — no pressure, no pitch.

Also find me at tylacroix.com and Totally Preachless

Selling a home in London, Ontario successfully comes down to four ingredients — location, condition, market, and price. Leave one out, or get one wrong, and the result falls short of what you were hoping for. The most important of the four is price, and the most common mistake sellers make is letting the wrong inputs drive that number: what they paid, what they need, what their neighbour thinks, or what another agent promised to get. None of those things determine what a buyer will pay. What comparable homes have actually sold for, recently, in your specific market, is what determines value. Ty Lacroix, Broker at The Envelope Real Estate Group, has used this formula across hundreds of London home sales over 24 years — and it works every time when all four ingredients are right.

Selling a home in London, Ontario is a lot like baking a cake. There are four core ingredients — and if you leave one out, or get the proportions wrong, the result won't be what you expected. You can add a personal touch here and there, but these four must form the foundation.

Ingredient 1: Location

The pricing has to reflect the location. A home in Byron doesn't price the same as a comparable home on a busy arterial road, even if everything else is identical. Location is the one variable no seller can change — which makes pricing to it accurately, rather than wishing around it, non-negotiable.

What that means for you: know what location is adding to your home's value, and what it might be limiting. A well-located home priced correctly moves quickly. An overpriced home in a great location still sits.

Ingredient 2: Condition

The pricing has to accurately reflect the condition — inside and out. A home that shows beautifully, has been well-maintained, and needs nothing from a buyer commands a premium. One with visible deferred maintenance, dated finishes, or obvious repair needs commands less — and if the price doesn't reflect that honestly, buyers will simply move on to something that does.

What that means for you: before you set a price, walk through your home as a buyer would. Not through your eyes — through theirs. What will they notice first? What will their inspector flag? What will their lawyer question? A realistic condition assessment before you list protects your price after you do.

Ingredient 3: The Market

The market is shaped by interest rates, mortgage availability, competing inventory, and buyers' views of the broader economy at any given moment. You can't control any of those things — but you can price to them.

What that means for you: if you need to sell, price and condition are your two levers. If you're fishing for a price the market isn't currently offering, you may not have enough compelling bait. According to current LSTAR data, London homes are selling at 97.4% of asking in a median of 26 days — which means the market is precise, not forgiving. Homes priced with that reality in mind move. Homes priced against it sit.

Ingredient 4: Price

Price is the single most important factor in selling a home. Get it wrong in either direction, and the consequences are real.

Price too low and you leave money in the buyer's pocket that should have been yours. Price too high and your home sits, accumulating days-on-market stigma, until buyers assume something is wrong with it — and by the time the price drops, you've lost the negotiating position you had on day one.

Here's what doesn't determine your home's value — no matter how much weight people give these things:

What you paid for the property. The amount you need from the sale to fund what comes next. What you think it should be worth. What another agent said it was worth to win the listing appointment. What your uncle, your hairdresser, your parents, or your children think — even though they genuinely have your best interests at heart. And an appraisal doesn't always reflect open-market value either.

Here's what does: what a ready, willing, and able buyer will pay in the open market, based on recent closed sales of comparable properties. That's it. That's the whole formula on the price side — and every other input is noise.

When All Four Work Together

When location is understood, condition is honest, the market is read accurately, and price reflects all three — homes sell. Not always instantly, not always at the number a seller hoped for, but consistently and without the costly detours of a stale listing, a price reduction, and a negotiating position that's been quietly eroded by time.

If you're thinking about selling in London and want to know exactly where your home sits across all four ingredients before you commit to a number, that's the conversation worth having first.

Ready to put the formula to work for your home? Reach out for a private conversation — no pressure, no pitch.

A Home Seller’s Guide With Hundreds of Tips, Ideas and Solutions To Sell Your Home or Condo & Start Packing!

Also find me at tylacroix.com and Totally Preachless

Most people who are stuck in a real estate decision — whether to sell, downsize, or make a move they know they need to make — aren't dealing with a problem. They're dealing with a situation. The difference matters more than it sounds. A problem is something that can't be solved. A situation is something that can, once you stop denying it and start doing something about it. Ty Lacroix, Broker at The Envelope Real Estate Group, has spent 24 years watching people sit on the fence about a decision already made in their hearts — and helping them find the clarity to act on it.

Most of us have been in real estate denial at one time or another. We confuse our situation with a problem, and once something becomes a "problem," it feels unsolvable — so we stop trying to solve it.

Bear with me here while I try to explain this in a straightforward way.

Is It a Situation or a Problem?

There's a difference, and it matters.

You don't have enough saved for a down payment yet. That's a situation. Mortgage payments feel too high right now. That's a situation. You can't find a home you love in the area you want with every feature on your list. That's a situation. Your spouse or your children don't want to move. That's not a problem — that's a situation. Your house has too many stairs, but you love the garden and the neighbours and the street you've lived on for twenty years. That's a situation. Sitting on the fence while circumstances make the decision for you — also a situation.

A situation can be worked with. A situation has options, even when none of them feel comfortable yet. A "problem" — once you call it that — tends to become a reason to quit, blame someone else, or deny any responsibility for what's actually happening.

Albert Einstein put it plainly: using the same mindset that got you where you are won't get you somewhere different.

What Doing Something About It Actually Looks Like

Think about the single parent working two jobs — not comfortable, not easy, but moving forward. Or the couple saving every spare dollar toward a home while managing everything else life requires. They don't call their situation a problem. They call it something to solve, and they keep solving it one paycheque at a time.

The same applies to a homeowner who knows their house is too big, too much to maintain, too many stairs — but loves the garden and hasn't been able to face what the next step looks like. That's a situation. It has a solution. The solution starts with a conversation, not a commitment to anything.

The Denial Part

Denial in real estate looks like this: waiting for the market to be "better" before selling, even when the current market is workable. Waiting for the perfect home before listing yours, even when the right move is to start the process. Waiting for everyone in the family to agree completely before taking a first step, even when that agreement may never come unanimously.

As Marcus Aurelius wrote in Meditations: "You shouldn't give circumstance the power to rouse your anger, for they don't care at all."

Circumstances don't resolve themselves while you wait for the right moment. They just become a different set of circumstances — sometimes better, sometimes not.

The One Thing Denial Doesn't Do

Sticking your head in the sand doesn't change your situation. It just delays it — usually until circumstances have narrowed your options rather than expanded them.

If you know a move is coming, the best time to start thinking about it clearly is before you have to. Not when the stairs become impossible, or the maintenance becomes unmanageable, or the timeline becomes compressed by something outside your control. My most satisfied clients are the ones who started the conversation before urgency made it harder.

If your situation has been quietly becoming a decision you've been avoiding, that's worth a conversation. No obligation, nothing to sign — just a straight talk about what your options actually look like from where you are right now.

Is a real estate decision sitting in the back of your mind? Reach out for a private conversation — no pressure, no pitch, and nothing to sign. Just clarity.

Also find me at tylacroix.com and Totally Preachless

Almost every realtor advertises a free home valuation — all you have to do is click. What most sellers don't realize is that a free valuation is almost always a sales appointment in disguise, and roughly half of those valuations tell sellers what they want to hear rather than what the market will actually bear. A real Comparative Market Analysis — one built on current comparable sales, active competition, and homes that failed to sell — is a professional tool that takes time, knowledge, and honesty to produce properly. Free doesn't cover any of those things. Ty Lacroix, Broker at The Envelope Real Estate Group, has spent 24 years giving London sellers an honest picture of what their home is worth — because the price you set on day one determines almost everything that follows.

What are free home valuations actually worth — and why does almost every realtor offer one?

The answer to the second question explains the first. When a realtor offers a free home valuation, they will gladly show up at your door with the primary purpose of hoping you'll list your home with them. It's a sales appointment with a professional-sounding name attached.

In my experience, roughly half of those valuations land in a reasonable range. The other half tell sellers what they want to hear, or avoid the honest conversation entirely because they don't want to risk losing the listing before they've won it. They bring the full presentation routine — the glossy materials, the impressive numbers, the enthusiasm — and leave the seller with a price that feels good but may have no relationship to what the market will actually pay.

You don't have to like a heart surgeon if you're having heart problems. You don't have to like a paramedic if you're in an accident. What you need is professionalism and someone who is genuinely looking out for you — nothing less. Real estate is no different.

Free has no real value. There will always be a price to pay — now or later. I don't know who first said it, but I've always liked this: "Pay the price once and only cry once."

What a Real Comparable Market Analysis Actually Is

A Comparative Market Analysis — a CMA — is the professional tool used to determine a property's correct selling price. The correct selling price is the best price the current market will bear, based on evidence rather than optimism.

A proper CMA is built on three categories of comparable homes, and all three matter.

Currently active listings. These are the homes your buyer will compare yours to the moment your listing goes live. Reviewing them tells you what alternatives a serious buyer has right now — and makes sure you're not underpricing your home relative to current competition.

Recently sold homes. Comparable sales from the past few months show what the market has actually paid for homes like yours. This is the most important data in the analysis. It's also what lenders use to determine how much they'll advance to a buyer — which means an overpriced home can cause financing problems even after an offer is agreed upon.

Homes that failed to sell. This is the category most free valuations ignore entirely. Homes that expired unsold or required significant price reductions before selling tell you where the market's ceiling actually is — and where your price needs to stay below to avoid the same outcome.

When all three are read together, you get an honest picture of where your home sits in today's market and what it will realistically attract. That picture may not be what you were hoping for. But it's what protects you from a stale listing, a price reduction, and a final sale number below what you would have achieved if you'd priced correctly from day one.

Now — what do you think a free home valuation is worth?

Ready for an honest picture of what your home is worth in today's London market — not just what you want to hear? Reach out for a private conversation — no pressure, no pitch.

For the complete selling framework: Selling Your Home in London, Ontario →

Also find me at tylacroix.com and Totally Preachless

When couples decide to sell a home in London, Ontario, the process is rarely a perfectly aligned, frictionless agreement between two people who want the same things at the same time. Research consistently shows that getting the home ready to sell — the cleaning, the repairs, the decluttering — is where the most friction surfaces, not the price. Understanding the full before, during, and after of a home sale, knowing who does what and when, and having someone in your corner who keeps both parties informed reduces the anxiety significantly. Ty Lacroix, Broker at The Envelope Real Estate Group, has spent 24 years navigating the full range of issues that arise when two people are selling the same house — and not always seeing it the same way.

Are you aware that spouses can differ in how they sell a home? If not, you may not be married — and if you remain unaware, your life together may not be easy.

When couples are surveyed about their home sale experience, one finding consistently surprises people: determining the list price is among the least difficult parts of the transaction. Couples don't wake up one morning and land on a number out of thin air. By the time they're ready to list, they've been thinking about selling for months — often 9 to 12 months from the first real conversation to a live listing. The price range has been discussed, adjusted, and discussed again long before anyone calls a broker.

What creates the most friction? Getting the home ready to sell. The painting, the repairs, the cleaning, the decluttering — this stage scores significantly higher on the difficulty scale than pricing does, and by a meaningful margin. You can probably guess how that work tends to get divided.

Paperwork and disclosures landed close to equal in difficulty for both partners — which surprised me initially, until I remembered that not everyone has a system for organizing documents or tracking what needs to be signed by when. Thoroughly understanding the process before signing anything is the single best thing any seller can do to make that stage less stressful.

Before, During, and After

Selling a home has three distinct phases, and the anxiety in most transactions stems from not understanding what to expect in each.

Before — the preparation phase: what needs to be done to the home, in what order, and by when. Who's managing the trades? Who's handling the decluttering? What does the timeline to listing look like?

During — the active listing phase: how showings are scheduled and communicated, what feedback looks like, how offers are presented and negotiated, and what happens if the first offer isn't the right one.

After — the period between an accepted offer and closing: conditions, lawyer timelines, what's included and excluded, and what moving arrangements need to be in place before possession day.

When both partners understand all three phases before the listing goes live — who does what, who's informed when, and what the process actually looks like from start to finish — there's significantly less anxiety and significantly fewer disagreements along the way.

The Rest of the Family

Of course, it's rarely just the two of you. There's always the rest of the family — your adult children with strong opinions, and Aunt Thelma, and your third cousin on your first husband's mother's side — all of whom have thoughts on what the house is worth and when you should list it.

The best thing you can do for all of them, including yourself, is to understand the process well enough that you're making decisions based on information rather than whoever made the most convincing case at the last family dinner.

If you're thinking about selling in London and want to walk through the full before, during, and after before you commit to anything, that's exactly where to start.

Ready to understand the full process before anything is signed? Reach out for a private conversation — no pressure, no pitch, and no Aunt Thelma required.

Also find me at tylacroix.com and Totally Preachless