Real Estate Recap: July 6 to 12, 2020
Residential market analysis and a sampling of high- and low-priced listings in London last week
IT’S DÉJÀ-VU… all over again. Four short years and an eternity ago, the London real estate market was a feeding frenzy. Multiple offers were becoming the norm and prices were steadily rising. First-time homebuyers were feeling squeezed out of the market.
We’re back there again.
“When 25 offers are presented for a property, 24 buyers are unsuccessful and remain in the market. Prices inevitably rise in this environment”
But what’s different? Back then, the average sale price of a home in London was about $200,000 less than today. Will this last? Yes, for the foreseeable future.
When 25 offers are presented for a property, 24 buyers are unsuccessful and remain in the market. Prices inevitably rise in this environment. Now more than ever, a trusted professional is key to navigating towards success. We wish everyone the very best!
Market analysis provided by Marcus Plowright, Sales Representative, A Team London. Marcus can be reached at 519-872-8326 or [email protected].
London East
Low
Address: 306-1176 Hamilton Road
MLS number: 261572
List price: $115,000
Days on market: 53
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: 22
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: 61
Size: 2 bedroom, 1 bathroom, 1,000 square feet
Listing agent: Joan Butler, Sales Representative, Sutton Group Preferred Realty Inc.
High
Address: 4-756 Riverside Drive
MLS number: 269169
List price: $2,300,000
Days on market: 19
Size: 4 bedrooms, 7 bathrooms
Listing agent: Jeffrey House, Sales Representative, Prime Real Estate Brokerage
London South
Low
Address: 77-198 Springbank Drive
MLS number: 267011
List price: $127,900
Days on market: 28
Size: 2 bedroom, 1 bathroom
Listing agent: Karen Greason, Sales Representative, Re/Max Centre City Realty Inc.
High
Address: 6501 Westminster Drive
MLS number: 268945
List price: $2,480,000
Days on market: 18
Size: 5 bedrooms, 4 bathrooms, 3,147 square feet
Listing agent: Myra Hueniken, Sales Representative, Re/Max Advantage Realty Ltd.
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.