Is Now a Good Time to Buy in London, Ontario?

Here’s What the Experts Are Saying

📍 May 2025 Housing Update | Elevate Real Estate Group

If you’ve been waiting for the right time to buy a home in London, Ontario, this might be your moment. According to recent insights from CBC News, the city’s housing market is offering more choice, flexibility, and negotiation power than it has in years.

🔽 Watch our quick video breakdown below:

📉 Why London’s Market Has Slowed Down

Local market data from www.LSTAR.ca, the London and St Thomas Association of Realtors, reports that homes are no longer flying off the market. While properties used to sell in under 20 days, buyers now have up to 30–45 days to make a decision. This means:

1. More time to book showings
2. More opportunities to negotiate price and conditions
3. Less pressure to waive key clauses like home inspections

Condos have been impacted more than other segments: condo sales are down, with apartment sales dropping 28% and townhomes down 25% year-over-year. That translates to a market with more supply and slightly softer pricing.

🧾 Affordability Is Still a Challenge

While prices have plateaued, averaging $516,000 for townhouses and $381,000 for condos, many buyers are still hesitant due to high living costs. Overall, affordability remains a key driver in many people’s decision-making process every day.

How much are groceries? Has my [car/boat/trailer] price gone up with interest rate fluctuations? For many, home ownership still seems closer to a dream than reality.

That said, if you’re financially ready, experts agree: now is the time to buy.

🏡 Buyer Behaviour Is Changing

With more inventory and longer selling timelines, buyers have the chance to take a more careful approach. The market has shifted where people are now bringing home inspectors, contractors, and even their in-laws to view homes—something that wasn’t always possible during the fast-paced market of recent years.
For sellers, the story is different. Pricing your home correctly is more important than ever to stand out in the face of increased competition.

🕒 So, Should You Wait?

Not necessarily. While some are holding off to see if the market drops further, others are using this unique moment to invest while competition is low. As Jie Dan put it, “If you’re a first-time buyer and can afford it, you need to make that investment.”

📊 Our Take at Elevate Real Estate Group

We’re seeing what we’d call a “cautious buyer’s market.” There’s less FOMO, more negotiation leverage, and more listings to choose from. That means opportunity for the right buyers.

💬 Let’s Talk About Your Buying Strategy

Everyone’s situation is different. If you’re wondering whether it makes sense to enter the market now, let’s have a real conversation.

📩 Contact us for a no-obligation buyer consultation.
📍 Or explore our featured homes for sale in London, Ontario.

The Elevate Real Estate Group ( Brittany, Victoria, Stewart, Jeremy, and Caitlyn)

Why Choose Elevate Real Estate Group?

At Elevate Real Estate Group, we understand that buying a home is a significant decision. That’s why having the right team by your side is essential. Our experienced realtors—Stewart Blair, Jeremy Odland, Brittany Wurfel, and Caitlyn Ford—bring unmatched expertise and dedication to every client.

Additionally, our in-depth knowledge of the London, Ontario, market allows us to confidently guide you through every step of the process. From the initial consultation to the moment you receive your keys, we’re committed to making your journey smooth and stress-free.

Learn more about Elevate here, Meet the Elevate Real Estate Team

Elevated Excellence in Real Estate

When you ask our clients, you’ll hear time and time again how we stand out in a competitive market. Our unwavering focus on Ethical Behaviour, providing the Best Client Experience Possible, and maintaining a Commitment to Excellence sets us apart.

Unlike others in the industry, we do not chase awards, focus on sales volume, or rush through deals to move on to the next client. Instead, we care about Every Client, Every Deal, Every Time. Whether you’re a first-time buyer or a seasoned investor, you can trust us to deliver the care and respect you deserve.

Get Our FREE Guides Today

Thinking of selling your home? Find out its true market value with our Free Home Evaluation! Get expert insights and a precise estimate to help you make confident, well-informed decisions.

Click here to access your free evaluation.

Ready to start your home-buying journey? Download our Home Buyers Guide today and get practical tips and expert advice to make your dream home a reality.

Click here to access the guide.

Contact Us

Do you have questions or need personalized advice? Call us at 519-933-6198. Let’s work together to find the perfect home for you! You can also use the Contact Us page.

More From The Elevate Real Estate Blog

Exploring real estate in London, Ontario? We’ve covered you with various blog posts designed to guide you through every step of the buying or selling journey. Whether you’re considering a move to London, preparing your home for showings, or looking for expert tips on navigating the real estate market, our curated resources are here to help. Dive into the posts below for actionable advice, local insights, and strategies to make your real estate experience seamless and successful. Each blog is tailored to provide you with valuable knowledge to make confident, informed decisions in the London, Ontario, real estate market.

10 Reasons To Consider Moving to London, Ontario 

The Importance Of Working With A Local Realtor

Your Essential Home Buyers Guide: Top 10 Tips for Buying a Home

How to Sell Your Home in Just One Week [A Free Guide]

Steps To Take Before Beginning Your Home Search

Elevates Concierge Real Estate Services

How To Prepare For Showings When Your Home Is On The Market

Find Us Online

Stay connected with the Elevate Real Estate Group and discover more tips, insights, and updates about the real estate market. Follow us on YouTube for informative videos, Instagram for property highlights and updates, and Facebook to stay informed about the latest listings and real estate news. You can also connect with us on LinkedIn to learn more about our team and professional services. Join our community today!