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
ACCORDING TO PROMINENT economists, we shouldn’t expect a dramatic downturn in the real estate activity country-wide. A generally robust market is expected to continue.
Although new construction represents less than a quarter of our activity locally, that market is expected to tighten even further. Developers and builders generally sold out last year, and due to Covid-related delays, much of what sold remains to be built in 2021. The local construction sector is a huge economic driver in our local economy.
“It is imperative that the local municipal government put more resources into managing and approving the backlog of permits and development applications that have accumulated”
As we try to climb out of the Covid slowdown, it is imperative that the local municipal government put more resources into managing and approving the backlog of permits and development applications that have accumulated. This is the single greatest influence we can have on keeping real estate inflation manageable in 2021. Approve lots, approve permits, motivate young people into the trades, expediate transit improvements and you’ll see just what the local building industry is capable of!
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: 85
Size: 1 bedroom, 1 bathroom, 980 square feet
Listing agent: Brian Barfoot, Broker of Record, Peak Premier Realty & Auctions Inc. Brokerage
High
Address: 966 Richmond Street
MLS number: 40048557
List price: $1,499,000
Days on market: 8
Size: 5 bedrooms, 4 bathrooms, 3,164 square feet
Listing agent: Kim Mullan, Broker, Sutton Group – Select Realty
London North
Low
Address: 1099 Oxford Street West
MLS number: 40059666
List price: $225,000
Days on market: 1
Size: 2 bedroom, 2 bathroom, 1,150 square feet
Listing agent: Blair Patton, Sales Representative, Sutton Group Preferred Realty Inc.
High
Address: 513 Warner Terrace
MLS number: 40023002
List price: $1,698,000
Days on market: 131
Size: 4 bedrooms, 4 bathrooms, 3,700 square feet
Listing agent: Ravel Mullan, Sales Representative, Sutton Group – Select Realty
London South
Low
Address: 903-45 Pond Mills Road Unit
MLS number: 40057528
List price: $199,900
Days on market: 6
Size: 2 bedroom, 1 bathroom, 900 square feet
Listing agent: Daniela Schmidt, Sales Representative, Keller Williams Lifestyles
High
Address: 700 Westmount Hills Drive
MLS number: 40036825
List price: $1,880,000
Days on market: 98
Size: 5 bedrooms, 5 bathrooms, 6,795 square feet
Listing agent: Christopher Brendan Mooney, Broker of Record, FSBO Real Estate 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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