Residential market analysis and a sampling of high- and low-priced listings in London last week
Photo: 966 Richmond Street is listed for sale at $1,499,000
CONGRATULATIONS, WE’VE PUT 2020 behind us. But in real estate, the market is likely to tighten even more.
It is forecast this year will be a “super seller’s market”. Demand will continue to rise for a number of reasons, and supply will remain short as builders struggle to catch up with demand and homeowners stay put.
How tight is the market? As an example, there are a total of three resale houses listed for sale in all of White Oaks, one in Westmount, two in Oakridge, none in Sherwood Forest and one in Kipps Lane. That’s seven resale homes available for all those neighbourhoods combined.
Recommendations for the new year:
- Buy before you list.
- Work with a real estate professional to best navigate this market.
- View properties immediately after they come on the market.
- Arrange for preapproved financing in advance.
- Do pre-inspections where possible if one is warranted.
The coming year may be the tightest real estate market in London’s recent history. Be ready, get prepared and buy early ― prices will continue to rise.
Market analysis provided by Marcus Plowright, Sales Representative, A Team London. Marcus can be reached at 519-872-8326 or [email protected].
Address: 24-3920 Dundas Street East
MLS number: 40040316
List price: $99,000
Days on market: 64
Size: 1 bedroom, 1 bathroom, 980 square feet
Listing agent: Brian Barfoot, Broker of Record, Peak Premier Realty & Auctions Inc. Brokerage
Address: 966 Richmond Street
MLS number: 40048557
List price: $1,499,000
Days on market: 35
Size: 5 bedrooms, 4 bathrooms, 3,146 square feet
Listing agent: Kim Mullan, Broker, Sutton Group – Select Realty
Address: 221-1 Jacksway Crescent
MLS number: 40045014
List price: $319,900
Days on market: 53
Size: 2 bedroom, 2 bathroom, 900 square feet
Listing agent: Edward J P Milani, Sales Representative, Sutton Group – Select Realty
Address: 2712 Torrey Pines Way
MLS number: 40041356
List price: $1,699,000
Days on market: 62
Size: 5 bedrooms, 3 bathrooms, 2,443 square feet
Listing agent: Natalie French, Sales Representative, Sutton Group – Select Realty
Address: 19-198 Springbank Drive
MLS number: 40046347
List price: $105,000
Days on market: 47
Size: 2 bedroom, 1 bathroom, 880 square feet
Listing agent: Karen Greason, Broker, Re/Max Centre City Realty Inc.
Address: 1939 Kilgorman Way
MLS number: 40043054
List price: $2,250,000
Days on market: 40
Size: 5 bedrooms, 4 bathrooms, 5,107 square feet
Listing agent: Dean Soufan, Broker of Record, Century 21 First Canadian 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.