Real Estate Recap: August 10 to 16, 2020

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

COUNTRYWIDE, CANADA’S REAL estate market is on fire, catching up for lost volume from March and April. Upward pricing pressure remains constant, as the inventory of houses for sale is at an all-time low.

Chatham, Woodstock, St. Thomas, Kitchener and, of course, Toronto, all have strong markets. This means the relative value of London real estate continues to be affordable.

New home sales are very strong, leading to product shortages and dramatic price increases in raw materials and supplies. Builders are having to hold off pricing and selling 2021 house builds because they can’t effectively predict their costs.

The big question? How long will this booming real estate market last? Given the universality of the demand from strong demographic growth over the last for years, it may be some time before there is a level 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: 506-573 Mornington Avenue
MLS number: 280404 
List price: $159,900
Days on market: 7 
Size: 1 bedroom, 1 bathroom
Listing agent: Rick Pritchard, Broker, and Jennifer Franco, Sales Representative, EXP Realty

High

Address: 397 St. George Street
MLS number: 266289
List price: $1,999,900
Days on market: 56  
Size: 6 bedrooms, 3 bathrooms
Listing agent: Sherry Farid, Sales Representative, Re/Max Centre City Realty Inc.

London North

Low

Address: 812-600 Grenell Drive
MLS number: 274123
List price: $203,900
Days on market: 34  
Size: 1 bedroom, 1 bathroom, 658 square feet
Listing agent: Christopher Brendan Mooney, Broker of Record, FSBO Real Estate Inc. Brokerage

High

Address: 10-756 Riverside Drive
MLS number: 275834
List price: $2,750,000
Days on market: 24 
Size: 4 bedrooms, 5 bathrooms
Listing agent: Brittany Wurfel, Sales Representative, Royal LePage Triland Realty

London South

Low

Address: 77-198 Springbank Drive
MLS number: 267011
List price: $110,000
Days on market: 62
Size: 2 bedroom, 1 bathroom, 800 square feet  
Listing agent: Karen Greason, Sales Representative, Re/Max Centre City Realty Inc.

High

Address: 1918 Kilgorman Way
MLS number: 274844
List price: $2,550,000
Days on market: 23
Size: 5 bedrooms, 4 bathrooms
Listing agent: Dean Soufan, Broker of Record, Century 21 First Canadian Corp. Dean Soufan 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.