Residential market analysis and a sampling of high- and low-priced listings in London last week
Photo: 513 Warner Terrace is listed for sale at $1,698,000
DATELINE: JANUARY 2017: In that month, GTA investors flooded the London new home market and bought out the inventory. That flood of investment lasted only about eight weeks, until the Ontario government put the brakes on by taxing foreign real estate investment in Toronto.
The market in the GTA cooled immediately, and those same investors couldn’t offload their Toronto inventory. They stopped coming to London, but they’d already secured all the inventory in the city. It took a year before the builders caught up.
Fast-forward to January 2021. In addition to out-of-town investors, there is an exodus of families leaving Canada’s big cities during Covid ― 50,000 from the GTA in 2020. London need only see a few of those buyers making their way down the 401 to have an enormous impact on our housing market.
We tend to have approximately 11,000 transactions per year here in London. And sellers often ask, “What can we do to attract Toronto buyers to our listing?” The answer is a strong marketing program, effective pricing strategy and a well-timed listing. Those elements will ensure GTA buyers find your listing and influence your selling price.
Address: 24-3920 Dundas Street East
MLS number: 40040316
List price: $99,000
Days on market: 78
Size: 1 bedroom, 1 bathroom, 980 square feet
Listing agent: Brian Barfoot, Broker of Record, Peak Premier Realty & Auctions Inc. Brokerage
Address: 1988 River Road
MLS number: 40056057
List price: $1,600,000
Days on market: 8
Size: 3 bedrooms, 3 bathrooms, 2,600 square feet
Listing agent: Simon A Farrugia, Sales Representative, Sutton Group – Preferred Realty Inc.
Address: 601-1600 Adelaide Street
MLS number: 40057075
List price: $269,900
Days on market: 4
Size: 2 bedroom, 1 bathroom, 945 square feet
Listing agent: Jennifer Los, Sales Representative, Re/Max Centre City Realty Inc.
Address: 513 Warner Terrace
MLS number: 40023002
List price: $1,698,000
Days on market: 124
Size: 4 bedrooms, 4 bathrooms, 3,700 square feet
Listing agent: Ravel Mullan, Sales Representative, Sutton Group – Select Realty
Address: 19-198 Springbank Drive
MLS number: 40046347
List price: $105,000
Days on market: 61
Size: 2 bedroom, 1 bathroom, 880 square feet
Listing agent: Karen Greason, Broker, Re/Max Centre City Realty Inc.
Address: 467 Commissioners Road East
MLS number: 40044892
List price: $2,100,000
Days on market: 56
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.