Residential market analysis and a sampling of high- and low-priced listings in London last week
Photo: 91 Commissioners Road East is listed for sale at $2,990,900
HALLOWEEN ARRIVES IN a few days – another tradition is disrupted and another reminder that nothing is near normal in our pandemic world, and that the future remains clouded.
Despite the uncertainty in the world, the local real estate market seems a sure thing.
A balanced market, where the number of buyers equals sellers, on a one to 10 scale, would be considered a five. The London market has been operating at an 11 since June.
And despite the fact that the number of offers per property is falling somewhat, prices remain elevated and rising. The imbalance in the market is softening, but only slightly; one could consider we’ve moved from 11 to nine.
New house inventory has been largely sold out, with new sales not likely getting into the ground until April, and an enormous backlog of sold but unbuilt product.
The recent announcement by the federal government to invest billions to fuel rapid housing starts is great news and certainly the right kind of stimulus. Let’s hope it helps to normalize our heated market in 2021.
Market analysis provided by Marcus Plowright, Sales Representative, A Team London. Marcus can be reached at 519-872-8326 or [email protected]
Address: 203-1830 Dumont Street
MLS number: 40029986
List price: $159,900
Days on market: 26
Size: 1 bedroom, 1 bathroom, 552 square feet
Listing agent: Jennifer Cvetkovski, Sales Representative, Keller Williams Referred Realty Brokerage
Address: 1010 Wellington Street
MLS number: 40024091
List price: $1,927,700
Days on market: 36
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
Address: 205-1 Jacksway Crescent
MLS number: 40038112
List price: $269,900
Days on market: 4
Size: 2 bedroom, 2 bathroom, 900 square feet
Listing agent: Steve Wiggett, Sales Representative, Royal LePage Triland Realty
Address: 4-756 Riverside Drive
MLS number: 269169
List price: $2,300,000
Days on market: 124
Size: 4 bedrooms, 7 bathrooms
Listing agent: Jeffrey House, Sales Representative, Prime Real Estate Brokerage
Address: 605-1105 Jalna Boulevard
MLS number: 40033440
List price: $194,500
Days on market: 14
Size: 1 bedroom, 1 bathroom, 500 square feet
Listing agent: Bob Pauley, Sales Representative, Homelife London Realty Inc.
Address: 91 Commissioners Road East
MLS number: 40027324
List price: $2,990,900
Days on market: 87
Size: 5 bedrooms, 4 bathrooms, 4,840 square feet
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.