Move-Up Markets: Why Now Is the Perfect Time to Upgrade Your Home

The Market Is Shifting in Favour of Move-Up Buyers

If you’ve been waiting for the right moment to move into a larger home, the London and St. Thomas real estate market is presenting a rare opportunity. According to the London and St. Thomas Association of REALTORS® (LSTAR), new listings rose by 13.7% in September 2025, while sales slowed slightly — creating a buyer’s market for the first time in years.

This shift means more inventory, less competition, and greater negotiating power for buyers ready to take the next step.

Move-Up Markets

Why Larger Homes Are Seeing Bigger Price Reductions

While prices have eased across most property types, the most notable declines are occurring at the higher end of the market. Larger, detached homes — those typically priced above $1 million — are feeling the biggest corrections.

Let’s look at what that means in real terms:

• A 6% drop on a $1.2 million home equals a $72,000 price reduction.
• A 10% drop would mean $120,000 off the purchase price.

By contrast, smaller homes have seen milder adjustments:

• A 2% dip on a $600,000 home equals $12,000.
• A 3% dip equals $18,000.

So while some sellers are understandably cautious, move-up buyers have a major advantage. Even if you sell your current home for slightly less than last year’s value, you can more than make up for it when purchasing your next property at a steeper discount.

How This Benefits Homeowners Looking to Move Up

If you own a mid-range property, this is your opportunity to move into your next home with confidence. Here’s why:

✅ Your Current Home Holds Its Value

Smaller and mid-priced homes remain in high demand among first-time buyers and downsizers. You’re still positioned to sell well.

✅ Larger Homes Offer More Value

With price drops hitting the upper end harder, your next home — whether it’s in a premium neighbourhood or offers more space — may now fit comfortably within your budget.

✅ Interest Rates Are Stabilizing

The recent Bank of Canada rate cut is helping restore affordability, making financing for larger homes more attainable.

✅ More Choice, Less Pressure

A growing supply of listings means you can take your time, explore more options, and negotiate terms that suit your family’s needs.

Smart Tips for Move-Up Buyers

1. Evaluate your finances early. Get pre-approved for a mortgage to understand your full purchasing power.
2. Prepare your current home. Small upgrades and professional staging can maximize your sale price.
3. Plan your timing. Coordinate your sale and purchase strategically to minimize stress.
4. Work with an experienced local REALTOR®. The Elevate Real Estate Group can help you navigate both sides of the move seamlessly.

Ready to Explore Your Move-Up Options?

If you’ve been waiting for the right moment to find more space, better schools, or your dream neighbourhood — now could be the best time in years.

➡️ Download your FREE Home Seller Guide to prepare your property for a successful sale:
Get the Guide Here

➡️ Download your FREE Home Buyer Guide to learn how to navigate the market with confidence: Get the Guide Here

Elevate Real Estate Group

About Elevate Real Estate Group

At Elevate Real Estate Group, we help London-area homeowners make confident, informed moves. Whether you’re buying, selling, or both, our local expertise and proven results ensure you get the best possible outcome.

Now is the time to move up — and Elevate is here to help.

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