SEPTEMBER’S HARVEST BROUGHT us to Thanksgiving and London’s year-over-year price increase stands at 30 per cent. The average price of a home has doubled in five years.
Even with prices at record highs, volume also peaked, with more transactions in September than in recorded history. At this peak of price and volume, let us take a breath and imagine what comes next.
“The market is not expected to cool in the near future, but the value increases seem to have slowed in the last two weeks”
This ascent cannot continue unabated. At the A Team, we are already seeing signs that we are approaching a peak. The market is not expected to cool in the near future, but the value increases seem to have slowed in the last two weeks.
No one can predict the future, but the present is a tremendous selling opportunity. A calmer market will mean more buying opportunities in the future ― this is inevitable, but timing is everything.
That being said, we’re talking about your home and not just an investment. Downsize, upsize, right size, but be sure to talk to someone who can guide you through that change for the market we’re in.
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: 303-1176 Hamilton Road
MLS number: 40029194
List price: $119,900
Days on market: 5
Size: 1 bedroom, 1 bathroom, 620 square feet
Listing agent: Rhonda Langren, Sales Representative, and Craig Thomas Langren, Sales Representative, Royal LePage Triland Realty
High
Address: 1010 Wellington Street
MLS number: 40024091
List price: $1,927,700
Days on market: 15
Size: 4 bedrooms, 4 bathrooms
Listing agent: Richard Clinton Cane, Sales Representative, and Scott Purdy, Sales Representative, Royal Lepage Triland Premier Brokerage
London North
Low
Address: 1011-600 Grenell Drive
MLS number: 40028501
List price: $229,900
Days on market: 5
Size: 1 bedroom, 1 bathroom, 926 square feet
Listing agent: Christie Bedford, Sales Representative and Janice Mcalister-Ross, Sales Representative, Royal LePage Triland Realty
High
Address: 4-756 Riverside Drive
MLS number: 269169
List price: $2,300,000
Days on market: 103
Size: 4 bedrooms, 7 bathrooms
Listing agent: Jeffrey House, Sales Representative, Prime Real Estate Brokerage
London South
Low
Address: 605-95 Baseline Road West
MLS number: 40028914
List price: $188,888
Days on market: 3
Size: 1 bedroom, 1 bathroom, 663 square feet
Listing agent: Doug Galbraith, Sales Representative, Re/Max Centre City Realty Inc., Brokerage
High
Address: 91 Commissioners Road East
MLS number: 40027324
List price: $2,690,000
Days on market: 7
Size: 5 bedrooms, 4 bathrooms
Listing agent: Angela Wilson, Broker, and Linda D Wilson, Sales Representative, Sutton Group – Select Realty
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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