Real Estate Recap: October 5 to 11, 2020
Residential market analysis and a sampling of high- and low-priced listings in London last week
THE PANDEMIC HAS had far reaching effects on real estate in and around the city of London.
Our population will increase due to those evacuating more heavily populated areas, such as the GTA. Property improvements are at an all-time high, with commensurate building material shortages systemwide.
Vacation and resort properties are in peak demand, given travel restrictions. Sadly, commercial vacancies will spike as work habits change and the economic impacts are absorbed.
We will see a ramping up of development and permit applications as builders try to catch up to the strong demand and upward pricing pressure we’ve been experiencing.
“Alternatives to road widenings are expected, with increased cycling and transit infrastructure likely in the years ahead”
An example of this is the recently announced development planned for south London. A partnership project between Auburn Development and Drewlo Holdings, the development, consisting of five high-rise apartments as well as commercial and retail space, is located next to White Oaks Mall and along the rapid transit expansion line.
Alternatives to road widenings are expected, with increased cycling and transit infrastructure likely in the years ahead.
Pandemic change is coming… are you ready?
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: 203-1830 Dumont Street
MLS number: 40029986
List price: $159,900
Days on market: 19
Size: 1 bedroom, 1 bathroom, 552 square feet
Listing agent: Jennifer Cvetkovski, Sales Representative, Keller Williams Referred Realty Brokerage
High
Address: 1010 Wellington Street
MLS number: 40024091
List price: $1,927,700
Days on market: 29
Size: 4 bedrooms, 4 bathrooms, 3,345 square feet
Listing agent: Richard Clinton Cane, Sales Representative, and Scott Purdy, Sales Representative, Royal Lepage Triland Premier Brokerage
London North
Low
Address: 305-1 Jacksway Crescent
MLS number: 40035600
List price: $269,900
Days on market: 1
Size: 2 bedroom, 1 bathroom, 885 square feet
Listing agent: Frank Roland Clarke, Sales Representative, Oliver & Associates Real Estate
High
Address: 4-756 Riverside Drive
MLS number: 269169
List price: $2,300,000
Days on market: 117
Size: 4 bedrooms, 7 bathrooms
Listing agent: Jeffrey House, Sales Representative, Prime Real Estate Brokerage
London South
Low
Address: 605-1105 Jalna Boulevard
MLS number: 40033440
List price: $182,500
Days on market: 7
Size: 1 bedroom, 1 bathroom, 500 square feet
Listing agent: Frank Roland Clarke, Sales Representative, Oliver & Associates Real Estate
High
Address: 1918 Kilgorman Way
MLS number: 274844
List price: $2,499,000
Days on market: 87
Size: 5 bedrooms, 4 bathrooms, 5,291 square feet
Listing agent: Dean Soufan, Broker of Record, Century 21 First Canadian Corp.
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.