Photo: 467 Commissioners Road East is listed for sale at $2,100,000
THE DECEMBER-JANUARY REAL estate market is the slowest seasonal period of the year. Add to that a surging pandemic ― when we’re all being extra cautious and being warned to stay home and socially distant ― and the result is an inventory of homes for only those sellers who absolutely have to sell on a timely basis.
Consequently, inventory is at an all-time low, leading to what appear to be irrational pricing and bidding conditions. This week, a Summerside townhouse secured 69 offers! That’s 68 buyers who were active enough to be searching and bidding but were unsuccessful. It will take many months, if not years, to find a balanced market in London. Be diligent, prepared and realize that, in a rising market, every day that goes by where you’re unsuccessful at buying a home is costing you money – a lot of money. Be well!
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: 24-3920 Dundas Street East
MLS number: 40040316
List price: $99,000
Days on market: 71
Size: 1 bedroom, 1 bathroom, 980 square feet
Listing agent: Brian Barfoot, Broker of Record, Peak Premier Realty & Auctions Inc. Brokerage
High
Address: 1988 River Road
MLS number: 40056057
List price: $1,600,000
Days on market: 1
Size: 3 bedrooms, 3 bathrooms, 2,600 square feet
Listing agent: Simon A Farrugia, Sales Representative, Sutton Group – Preferred Realty Inc.
London North
Low
Address: 27 Andrew Street
MLS number: 40047412
List price: $369,900
Days on market: 41
Size: 3 bedroom, 1 bathroom, 1,004 square feet
Listing agent: Kevin Schokaert, Sales Representative, Re/Max Centre City Realty Inc.
High
Address: 2712 Torrey Pines Way
MLS number: 40041356
List price: $1,699,000
Days on market: 69
Size: 5 bedrooms, 3 bathrooms, 2,443 square feet
Listing agent: Natalie French, Sales Representative, Sutton Group – Select Realty
London South
Low
Address: 19-198 Springbank Drive
MLS number: 40046347
List price: $105,000
Days on market: 54
Size: 2 bedroom, 1 bathroom, 880 square feet
Listing agent: Karen Greason, Broker, Re/Max Centre City Realty Inc.
High
Address: 467 Commissioners Road East
MLS number: 40044892
List price: $2,100,000
Days on market: 49
Size: 5 bedrooms, 6 bathrooms, 6,544 square feet
Listing agent: Bradley Gleed, Broker, Century 21 First Canadian Corp A Team 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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