Real Estate Recap: June 1 to June 7, 2020

Residential market analysis and a sampling of high- and low-priced listings in London last week

LONDON CONTINUES TO defy the national trends.

In May, the year over year average home price in our real estate market was up seven per cent to an average price of about $450,000. Another perspective on this: every month for the last year, the average home in London increased by $2,300. The average London homeowner earned an annualized tax-free gain of $28,000 ― it pays to be in the market, and it costs buyers to delay getting into the market.

“Every month for the last year, the average home in London increased by $2,300”

There is continued strength in demand as supply lags ― sellers are winners. We expect the province to open up for services in the coming days ― please continue to be safe so we can all enjoy the coming economic boom!

Market analysis provided by Marcus Plowright, Sales Representative, A Team London. Marcus can be reached at 519-872-8326 or marcus@ateamlondon.ca.

London East

Low

Address: 306-1176 Hamilton Road
MLS number: 261572
List price: $115,000
Days on market: 17
Size: 1 bedroom, 1 bathroom
Listing agent: Scott Vannord, Sales Representative, Sutton Group – Select Realty

High

Address: 77 Victoria Street
MLS number: 255889
List price: $1,799,000
Days on market: 45 
Size: 5 bedrooms, 4 bathrooms
Listing agent: Sallie A McFarlane, Sales Representative, Re/Max Advantage Realty Ltd.

London North

Low

Address: 1600 Adelaide Street
MLS number: 251565
List price: $210,000 
Days on market: 54 
Size: 1 bedroom, 1 bathroom
Listing agent: Chieme Pulon Mugford, Sales Representative, Anchor Realty

High

Address: 75 Tetherwood Boulevard
MLS number: 249317
List price: $1,749,800 
Days on market: 88 
Size: 5 bedrooms, 8 bathrooms, 5,000 square feet
Listing agent: Randy Goela, Sales Representative, StreetCity Realty Inc., Brokerage

London South

Low

Address: 20-198 Springbank Drive
MLS number: 240472
List price: $154,900
Days on market:  n/a
Size: 1 bedroom 1 bathroom 
Listing agent: Karen Greason, Broker, Re/Max Centre City Realty Inc.

High

Address:  458 Kains Road
MLS number: 230144
List price: $2,395,900
Days on market:  n/a
Size:  5 bedrooms, 5 bathrooms
Listing agent: Owen Price, Sales Representative, Keller Williams Lifestyles

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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.