Real Estate Recap: June 15 to 21, 2020

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

THE PACE AT which we accelerate towards normalcy is impressive.

More than $100,000,000 in residential sales were completed in the third week of June! That’s 243 home sales in seven days. This is right on pace with the average for the last five years.

“More than $100,000,000 in residential sales were completed in the third week of June!  That’s 243 home sales in seven days. This is right on pace with the average for the last five years”

Sales exceeded listings, so inventory continues to tighten. Multiple offers continue to be the norm as buyers outpace sellers. It will likely take several months to work through the pent-up demand from transactions delayed due to Covid-19. This will keep prices rising and therefore increase the cost of waiting to get into the market.

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: 397 St. George Street
MLS number: 266289
List price: $1,999,900
Days on market: 1  
Size: 6 bedrooms, 3 bathrooms
Listing agent: Sherry Farid, Sales Representative, Re/Max Centre City Realty Inc.

London North

Low

Address: 511-600 Grenell Drive
MLS number: 258600
List price: $247,900
Days on market: 40  
Size: 2 bedroom, 1 bathroom, 1,000 square feet
Listing agent: Joan Butler, Sales Representative, Sutton Group Preferred Realty Inc.

High

Address: 67 Tetherwood Boulevard 
MLS number: 266381
List price: $1,995,000
Days on market: 1  
Size: 8 bedrooms, 7 bathrooms, 5,966 square feet
Listing agent: Michael Leff, Broker, Royal LePage Triland Realty

London South

Low

Address: 77-198 Springbank Drive  
MLS number: 267011
List price: $132,900
Days on market:  7
Size: 2 bedroom, 1 bathroom 
Listing agent: Karen Greason, Broker, Re/Max Centre City Realty Inc.

High

Address: 467 Commissioners Road East
MLS number: 265857
List price: $2,450,000
Days on market:  3
Size: 5 bedrooms, 6 bathrooms, 5,300 square feet
Listing agent: Bradley Gleed, Broker, Century 21 First Canadian Corp A Team Inc.

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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.