LET’S RUN THE regional home sales numbers from the London St. Thomas Real Estate Association
August transactions: 931 vs. 820 last year vs. 700-plus in previous years.
August year-to-date transactions: 5,951 vs. 6,302 last year and compared to 7,615 in 2017.
August active listings: 1,001 vs. 1,389 last year.
Months of inventory: 1.1 vs 1.7 last year and compared to 4.0-plus in previous years.
What do the stats tell us? Despite August record volume (and an average home price now above $500,000), we’re still lagging behind last year and well behind 2017. Inventory of houses available for sale is at a record low (33 days supply compared to 130-plus days in past years). Houses sell as fast as they list, the inventory problem is not going to be solved for months or years and prices will continue to climb as a result.
And among all of this, our city, our province and our country require a housing program that expedites construction to fuel the Covid-19 recovery and provide housing of all types for all income levels with corresponding transit solutions – our prosperity is at hand.
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: 308-1825 Whitney Street
MLS number: 40018636
List price: $139,900
Days on market: 6
Size: 2 bedroom, 1 bathroom, 725 square feet
Listing agent: Joan Butler, Sales Associate, and Lee J. Vangeel, Sales Associate, Sutton Group Preferred Realty Inc.
High
Address: 826 Colborne Street
MLS number: 280334
List price: $1,679,000
Days on market: 35
Size: 4 bedrooms, 6 bathrooms
Listing agent: Bill Vandeloo, Sales Associate, StreetCity Realty Inc.
London North
Low
Address: 812-600 Grenell Drive
MLS number: 274123
List price: $203,900
Days on market: 62
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: 52
Size: 4 bedrooms, 5 bathrooms
Listing agent: Brittany Wurfel, Sales Representative, Royal LePage Triland Realty
London South
Low
Address: 306-1590 Ernest Avenue
MLS number: 40018155
List price: $179,900
Days on market: 6
Size: 1 bedroom, 1 bathroom
Listing agent: Troy W. Hill, Sales Representative, Century 21 First Canadian Corp.
High
Address: 1918 Kilgorman Way
MLS number: 274844
List price: $2,550,000
Days on market: 51
Size: 5 bedrooms, 4 bathrooms
Listing agent: Dean Soufan, Broker of Record, Century 21 First Canadian Corp. Dean Soufan Inc.
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.
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