Wondering where London and Madison County home prices and inventory are heading this year? If you plan to buy or sell, it is normal to feel unsure after the rapid shifts of the last few years. This guide explains what is driving today’s local market, how timing affects your results, and the practical steps that help you win. Let’s dive in.

What drives London’s market

Mortgage rates steer demand

Mortgage rates remain the biggest driver of buyer activity. After rates rose in 2022 and stayed elevated through mid‑2024, the buyer pool became more selective. According to the weekly averages in the Freddie Mac Primary Mortgage Market Survey, rate changes can quickly impact affordability and urgency. In London, that means fewer frenzied bidding wars than 2020–2021, but well‑priced homes in commuter‑friendly spots still attract quick offers.

Inventory stays tight

Central Ohio has faced low for‑sale inventory compared with pre‑pandemic norms. Months of supply is a helpful way to read the market: less than 3 months signals a seller’s market, 3–6 is balanced, and more than 6 is a buyer’s market. Smaller cities like London often see tighter supply simply because fewer homes list at once. For current county snapshots, review the Columbus REALTORS market statistics.

Prices are steady, not surging

Annual price growth has cooled from 2021–2022 peaks across many Central Ohio areas. Small town markets near the metro, like London, tend to follow the larger metro with a slight lag. You should not count on double‑digit appreciation to carry your sale. Smart pricing and strong presentation matter more than ever.

Days on market normalize

Homes no longer sell at the lightning pace of 2021, but good‑condition properties priced to the market can still move fast. Buyers are more rate‑sensitive and selective, so sellers who list clean, updated, and at a realistic price often see the best offers early.

Local factors in London and Madison County

Commuting and location

London sits along I‑70 between Columbus and Dayton, which appeals to commuters who want small‑city living with access to metro jobs. If you are hybrid or remote, factor your commute frequency, fuel costs, and time. Many buyers value larger lots and overall affordability when daily commuting is limited.

Home types and what to expect

You will find a mix of historic homes, established subdivisions, new single‑family builds, and rural acreage across London and Madison County. New construction often carries a higher price per square foot but lowers near‑term maintenance. Older homes can offer character and value but may need updates. Your approach to repairs and staging should match the property type.

Schools, taxes, and utilities

School assignment, property taxes, and utility setup can affect your monthly costs and timing. In rural areas, wells and septic systems require more evaluation before purchase. During your search, request tax history, utility types, and current school assignment maps early. To research parcel details and tax records, use the Madison County Auditor.

New construction and land

When a builder becomes active in a price band, it can add inventory and ease pressure on similar resale homes. Where buildable lots are limited, supply stays tighter. If you are selling, watch local builder activity to understand your competition.

Best timing: seasonality and prep

When the market is most active

In Central Ohio, spring typically brings the most new listings and buyers, followed by a steady summer and a quieter late fall and winter. This seasonal pattern is consistent with broad trends tracked by the National Association of Realtors. Spring maximizes exposure, while late fall and winter can help you avoid heavy bidding competition.

Seller prep timeline

• Weeks 12–8 before listing: Consider a pre‑listing inspection, gather warranties and manuals, review comparable sales, and schedule any contractors.
• Weeks 8–4: Complete repairs, declutter, deep clean, refresh paint and flooring where needed, improve curb appeal, and book professional photography.
• Weeks 4–0: Finalize pricing with your agent and prepare marketing materials.

If you aim for a spring listing, start prep in January or February so you can hit the market in March or April.

Buyer readiness timeline

• Weeks 12–8 before your target move: Check credit, compare lenders, and get a full pre‑approval. Define preferred neighborhoods and set budget bands.
• Weeks 8–0: Tour active listings, write offers, and coordinate inspections and financing steps.

If you want to be competitive in spring, lock in lender conversations early in the year so you can move quickly when the right home appears.

New construction timeline

Build timelines vary. Securing a lot or a move‑in‑ready spec home can take months. Plan on 3–9 months or more depending on the builder and weather.

Strategies that work now

For sellers

• Price to the market. Overpricing slows momentum and can reduce your net. A slightly aggressive but well‑supported price often draws the most attention.
• Fix the right things. Prioritize safety and major systems, then focus on high‑impact visuals like paint, flooring, lighting, and landscaping.
• Prepare for inspections. Offer flexibility on repair credits or consider a pre‑inspection to reduce surprises.
• Compete with new builds by highlighting mature trees, character details, lot size, and any recent system updates or warranties.

For buyers

• Lead with a strong pre‑approval and use fast underwriting if available. Lock a rate when it aligns with your budget and timeline.
• Be selective with contingencies. Do not waive appraisal or title contingencies without careful guidance. Inspection protections are especially important for older homes and rural properties.
• Make clean, compelling offers. Consider flexible closing dates, solid earnest money, and escalation language only when recent comparable sales support the value.
• Budget for all costs, including property taxes, possible well and septic servicing, and any special assessments.

Appraisals and pricing

In smaller markets, appraisals may lag when recent comparable sales are scarce. If there is appraisal gap risk, have a plan, whether that is extra down payment, renegotiation options, or updated comps from your agent.

Condition checks for rural and older homes

Pay close attention to septic systems, well water quality and pump condition, roof age, heating systems, and any floodplain or stream setback on acreage. Build inspection time into your offer so you can evaluate these items thoroughly.

Where to track local data

• Weekly mortgage rate trends: Freddie Mac PMMS
• Monthly market snapshots for Central Ohio and counties: Columbus REALTORS market statistics
• National trends and affordability context: NAR Research and Statistics
• Property records, parcel maps, and tax details: Madison County Auditor
• County profile information: U.S. Census QuickFacts

The bottom line

Rates shape demand, inventory remains limited, and pricing strategy makes or breaks results. If you prepare well and price to the market, you can still sell quickly in London. As a buyer, early prep and clear terms help you win without overpaying. If you want a step‑by‑step plan for your move in London or nearby towns, reach out to Keli Fisher for local guidance, pro marketing, and tools like instant valuation and home search.

FAQs

Is it a good time to sell in London, OH?

• If your home is in good condition and priced to current comps, spring brings the most buyer traffic, but well‑prepared listings can perform any season when inventory is limited.

How long will it take to sell my Madison County home?

• Days on market have normalized from 2021 lows; a clean, well‑priced home can often go under contract in a few weeks, while overpricing typically lengthens timelines.

How much should I budget for pre‑listing repairs in London?

• Focus on safety and major systems first, then update paint, flooring, and landscaping; many sellers spend from a few hundred to a few thousand dollars depending on condition.

Should I buy new construction or a resale in Madison County?

• New builds offer warranties and modern systems but can cost more and take longer; resales may provide character and faster move‑in, so weigh price, location, and timing.

How can I compete as a buyer in London without overpaying?

• Get a strong pre‑approval, write clean terms, use recent closed comps to set a firm limit, and consider escalation or appraisal gap coverage only when values support it.