London & St Thomas March Market Stats 2025

London & St. Thomas March 2025 Real Estate Market Update

The London and St. Thomas real estate market has seen some significant shifts this past month. With sales continuing to slow and inventory on the rise, we’re seeing a more balanced market emerge. But what does this mean for buyers and sellers? Let’s break it down.

Home Sales Drop by 33.5%

One of the most notable changes is the significant drop in sales compared to last year. Only 508 homes were sold in March, a 33.5% decrease from the same time in 2024. This suggests that buyers are either waiting on the sidelines due to economic uncertainty or higher borrowing costs.

For sellers, this means that properties aren’t moving as quickly, and pricing strategies are more important than ever. Gone are the days when homes would sell in just a few days with multiple offers. Sellers need to adjust expectations and work with a knowledgeable agent to market their homes effectively.

Average Sale Price Holds Steady at $643,159

Despite the slowdown in sales, prices have remained relatively stable. The average sale price for March was $643,159, a slight 0.6% decrease from last year. This indicates that while demand has cooled, there’s still enough buyer interest to keep prices from dropping significantly.

If you’re a buyer, this means you may not see drastic price reductions, but you have more negotiating power. With fewer bidding wars and homes sitting longer, you might be able to secure a better deal.

Active Listings Up 21.1% – More Choices for Buyers

A key factor shaping the market right now is the increase in active listings. There were 2,442 homes available in March, up 21.1% from last year.

More inventory means more choices for buyers, leading to less competition and more room to negotiate. However, for sellers, this means more competition. To stand out, pricing competitively and ensuring your home is well-presented (think staging and professional photography) is crucial.

Fewer New Listings – Down 11%

Interestingly, new listings were down 11%, with only 1,224 homes hitting the market in March. This suggests that some sellers might be hesitant to list their homes, possibly waiting for better conditions. However, with sales slowing and inventory growing, the market still favours buyers overall.

Months of Inventory Rises to 4.8 – A More Balanced Market

The months of inventory (MOI) jumped to 4.8 months, an increase of 2.2 months compared to last year. This is a significant shift toward a balanced market.

• A seller’s market typically has less than 3 months of inventory.

• A balanced market falls between 4-6 months of inventory.

• A buyer’s market starts at 6+ months of inventory.

With inventory levels rising, we are moving away from the intense seller’s market of previous years. This is great news for buyers who have been frustrated by low supply and high competition.

What This Means for Buyers & Sellers

For Buyers:

✅ More inventory = more choices.

✅ Prices are stable but could soften if inventory keeps growing.

✅ Less competition means stronger negotiating power.

✅ Interest rates remain a key factor – securing a good mortgage rate is crucial.

Advice: Take advantage of the increased supply and slower sales. You may not see drastic price drops, but you’ll have more room to negotiate.

For Sellers:

✅ Pricing is more important than ever – overpriced homes will sit on the market.

✅ Homes that show well (staging, marketing, professional photos) will attract more buyers.

✅ Be prepared for longer days on market – patience is key.

✅ If you’re thinking of selling, consider listing now before inventory grows further.

Advice: Work with an experienced real estate agent who understands the current market. Pricing your home correctly and ensuring it’s marketed well will help it stand out.

Final Thoughts

The London & St. Thomas real estate market is transitioning into a more balanced phase. While home sales have dropped, prices remain relatively stable, and inventory is increasing. Buyers have more opportunities, while sellers must adjust their strategies to stay competitive.

If you’re thinking of buying or selling, now is the time to consult with a professional to navigate these changing conditions. Feel free to reach out if you’d like a personalized strategy for your real estate goals!