Here's an updated on what's happening in Wilmot Creek for April 2026. As in many areas, the nicely updated & well priced, move-in ready homes are selling.
To find out more about why inventory is building in Wilmot Creek, read on below the sales update for some thought-provoking information. Also I share a personal story about a home I had listed didn't sell.
Sales Activity in Wilmot Creek
2 homes was sold from March 18 - April 20
There are currently 16 homes for sale, ranging in price from $449,000 - $749,900
Least expensive and most expensive homes in Wilmot Creek today
The nicest Wilmot Creek bungalow on the market today is this fully updated ranch bungalow; it's been on the market for 187 days:
The home I fell represents the best value in Wilmot Creek today is this bungalow at an unbelievable price:
Here's a link to a complete list of homes currently for sale in Wilmot Creek; including several of the popular "newer style" bungalows: HOMES FOR SALE IN WILMOT CREEK
As always, you can text/call me at 416-562-5002 to tour these homes anytime.
Why inventory may be building:
I just read an interesting story in Real Estate Magazine. The survey highlights a key issue: a lack of places to go for those considering making a move. Re/Max Canada just published a study about trends in downsizing.
“Downsizing is an important factor in the natural churn of the housing market, and headway will depend on improving access to appropriate housing options for older Canadians,” said Don Kottick, president of Re/Max Canada. “Without it, our research indicates that many homeowners may delay or abandon their moving plans entirely, further constraining the flow of inventory into the market.”
The report suggests Canadians are mixed on the benefit younger buyers would see from the older population putting their homes on the market. About 34 per cent of Canadians believe increased downsizing among older homeowners would make it easier for younger buyers to enter the market. Meanwhile, 26 per cent think it would make it harder, and 29 per cent expect little impact.
About 49 per cent of Canadians report low availability of downsizing housing in their communities, while another eight per cent say there are no options at all. Among those aged 65 and older, the challenge is even more pronounced, with 65 per cent reporting low or no availability.
As a result, relatively few Canadians say they plan to downsize in the near term. Just 10 per cent expect to move to a smaller home within the next decade. That figure rises to 16 per cent among seniors, while nearly half — 46 per cent — say they plan to stay where they are.
Even among those considering a move sooner rather than later, many have doubts. The survey found 73 per cent are concerned about their downsizing options, including 32 per cent who say they are very concerned.
“We’re seeing many homeowners who would consider downsizing, but they’re struggling to find suitable options in their communities,” says Kottick. “Without sufficient inventory to support these transitions, many are choosing to stay in their homes longer, which limits movement of younger buyers across the market.
With many people staying in thier homes longer, inventory in retirement friendly communities stalls. This also affects condo sales in popular buildings.
Is this holding you back from downsizing? With the gap in the prices between freehold sale and Wilmot Creek properties widening in favour of the sale, and great turnkey properties available, now may be a smart time to move.
Link to full article here: 65% of Canadians 65+ report few downsizing options
Why didn't this home sell?
I don't have many of these stories, because luckily most of my sellers are reasonable. But I just had a home that didn't sell. Despite recieving multiple offers when we were first on the market, the sellers felt their home was worth more & didn't accept any. As is their right, of course. Then over the next 4 months and 60 showings we recieved NO other offers, not even a lowball.
The homeowners had lived there 40 years and attributed the love they felt for the home and area translated into a dollar figure. The problem is that buyers don't know your area or street is 'the best' which is a subjective measure. They are trying to make a decision based on the best value for them, which includes condition of the home as well as neighbourhood.
Why didn't we even get a low offer?
The home had many things that didn't work for buyers:
- electric baseboard heat
- no central ac or ductless ac
- a flat (commercial style) roof
- mansard type shingles that needed replacing - they were original (and mansard style roof, while the homeowners loved it most people do not)
- no updates inside
- worn hardwood & kitchen cabinets
- no coat closets
The biggest issue is that with no ac & electric heat - the conversion needed to be done up front. So the renovations & conversion would require a substantial cash outlay before a buyer could move in.
Staging and marketing brought the buyers in. But the work required held them back. And only price would fix that. Of the other homes in the area that sold while the house was for sale only 2 agents saw this house as well. And that's over 60 showings in total!
What's the learning here:
- buyers don't necessarily pay for what you value. This is called an 'endowment effect'
- if you don't update your home in 40 years, don't expect to get what other homes sell for
- if there is a lot of work needed up front your buyer pool drastically shrinks. Price is the only incentive that will overcome that
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Q&A's about buying in Wilmot Creek
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