Yoing man keeping open hands with house model in shirt and looking hopeful. front view.
During that period, 2,387 homes sold ― 29.4 per cent of homes available for sale in the first half of 2025 sold; 70 per cent of homes did not sell or have not sold.
I’m often asked if we’re seeing the “market starting to turn”. While I appreciate the need for all of us to benefit from some good news now and then, I truly believe this is a question that should be deferred ― possibly for years.
“When the market bottoms and for how long is a fool’s game to predict. One thing I’m confident of ― the “turnaround” will be measured, incremental and barely noticeable ― like the changing of the seasons, only slower”
The real estate market is healthy ― much healthier when demand dramatically exceeded supply and bidding wars were the norm. Back when too many buyers competed for too few listings, it was unhealthy and led to rampant price appreciation and an eventual correction.
With a healthy supply of houses on the market now, buyers and sellers can date one another without having to marry the first potential spouse that comes along with all their teeth and hopefully most of their faculties.
This calm, healthy and seemingly slow market is here to stay for the foreseeable future. We have inventory that easily grows every month and still a strong number of transactions ― averaging about 140 per week in July.
There’s little solace for a seller who has cleaned, decluttered, staged, threatened the kids to not touch anything, priced right and is anxiously waiting for viewings while the dog has been sent to Uncle Jerry’s farm for two weeks.
Their concern that “no one is coming” is heartfelt. They’re ready to move on with their lives, and the sellers of the home they bought conditionally on their sale are equally anxious, and so on and so on. Its hard, really hard.
Tariffs, trade, recessions, interest rates, mortgage rates, unemployment rates, interprovincial trade, new construction incentives, GTA condo market meltdown, seasonal slowdowns ― pick a topic and we can discuss the risks holding back a real estate market turnaround.
Four years ago, owning and investing in real estate was a lottery win. All the market effects were positive. Now, most market effects are “calming” the market and limiting demand. It’s a cycle and we seem to be slipping down a very shallow curve. When the market bottoms and for how long is a fool’s game to predict. One thing I’m confident of ― the “turnaround” will be measured, incremental and barely noticeable ― like the changing of the seasons, only slower.
Market analysis provided by Marcus Plowright, Partner, A Team London. Marcus can be reached at 519-872-8326 or marcus@ateamlondon.ca.
High- and low-priced real estate listings around town this week
London East
Low
Address: 79 Glass Avenue
MLS number: X12281104
List price: $499,900
Days on market: 17
Size: 3+2 bedroom, 3 bathroom, 700-1,100 square feet
Listing agent: Sandeep Sharma, Salesperson, StreetCity Realty Inc., Brokerage
High
Address: 1839 Parkhurst Avenue
MLS number: X12250574
List price: $1,599,900
Days on market: 32
Size: 4 bedrooms, 4 bathrooms, 2,000-2,500 square feet
Listing agent: Carol Turnbull, Salesperson, Re/Max Centre City Realty Inc.
London North
Low
Address: 353 Cheapside Street
MLS number: X12186516
List price: $475,000
Days on market: 59
Size: 2 bedroom, 1 bathroom, 700-1,100 square feet
Listing agent: Susan Tanton, Broker, Century 21 First Canadian Corp.
High
Address: 1577 Gloucester Road
MLS number: 40745787
List price: $3,485,000
Days on market: 32
Size: 5 bedrooms, 3 bathrooms, 6,837 square feet
Listing agent: Steve Bailey, Broker, The Agency
London South & West
Low
Address: 239 Commissioners Road West
MLS number: X12235263
List price: $499,900
Days on market: 39
Size: 3 bedroom, 2 bathroom, 700-1,100 square feet
Listing agent: Myra Hueniken, Salesperson, Re/Max Advantage Realty Ltd. Brokerage
High
Address: 9385 Elviage Drive
MLS number: X12002246
List price: $3,490,000
Days on market: 146
Size: 5 bedrooms, 7 bathrooms, 3,500-5,000 square feet
Listing agent: Ashley Winder, Salesperson, Sutton Group – Select Realty
Disclaimer: London Inc. does not guarantee the accuracy of the statistical data on this page. The data does not represent the listings of any one agent or agency but represents the activity of the real estate community in the area. Any real estate agent’s ad appearing is separate from the statistical data provided, which is in no way a part of their advertisement.
Gen Z is quietly redefining phone etiquette, leaving generational gaps at the dial tone
1797 Phillbrook Court: $899,900 for a two-storey yellow brick home in one the city’s most coveted family neighbourhoods
A summary of recent commercial real estate activity in London
According to a new report, AI-based salary research is driving up salary expectations
London Inc. Weekly: A summary of regional business news from the past week