Residential market analysis and a sampling of high- and low-priced listings in London last week
Photo: A luxury home at 513 Warner Terrace is listed for sale at $1,698,000
THESE DAYS, ONTARIO homebuyers “drive until they qualify”.
Many homebuyers migrate from their relatively expensive home market (and away from their jobs, friends and family) until they find a market they can afford. This is bringing GTA buyers towards London, while at the same time pushing London families out into surrounding communities.
London has added 50,000 citizens in the last five years, basically a doubling of the rate from the previous five years. The trend to working remotely has only exacerbated the migration. In the last pandemic year, immigration into Ontario has fallen dramatically, but the federal government is increasing the numbers for the next few years to make up for this recent decline. Consequently, it is expected local population growth will continue.
Out-of-town buyers will continue to push our market up, and local buyers will continue to search for affordability in our neighbouring communities. Ilderton, Lucan, Thorndale, Dorchester, Belmont, Aylmer, St. Thomas, Port Stanley, Delaware, Dutton, Wyoming, Mt. Brydges, Strathroy ― all of these towns are experiencing a real estate boom like never before. No matter where you’re searching for property, the sooner you succeed, the better off you’ll be.
Market analysis provided by Marcus Plowright, Sales Representative, A Team London. Marcus can be reached at 519-872-8326 or firstname.lastname@example.org.
Address: 204-1174 Hamilton Road
MLS number: 40067682
List price: $150,000
Days on market: 6
Size: 1 bedroom, 1 bathroom, 437 square feet
Listing agent: Bill Mcleod, Sales Representative, and Nikki Morris, Sales Representative, Century 21 Heritage House
Address: 966 Richmond Street
MLS number: 40069861
List price: $1,499,000
Days on market: 4
Size: 5 bedrooms, 4 bathrooms, 3,164 square feet
Listing agent: Kim Mullan, Broker, Sutton Group – Select Realty
Address: 304-9 Jacksway Crescent
MLS number: 40065429
List price: $349,900
Days on market: 12
Size: 2 bedroom, 2 bathroom, 827 square feet
Listing agent: Scott Vannoord, Sales Representative, Suton Group Select Realty
Address: 513 Warner Terrace
MLS number: 40069847
List price: $1,698,000
Days on market: 4
Size: 4 bedrooms, 4 bathrooms, 3,700 square feet
Listing agent: Ravel Mullan, Sales Representative, and Kim Mullan, Broker, Sutton Group – Select Realty
London South & West
Address: 309-733 Deveron Crescent
MLS number: 40069185
List price: $259,000
Days on market: 5
Size: 2 bedroom, 1 bathroom, 1,150 square feet
Listing agent: Mirella Shreve, Sales Representative, Remax City Centre Realty Inc.
Address: 812 Gideon Drive
MLS number: 40064387
List price: $2,795,000
Days on market: 11
Size: 5 bedrooms, 5 bathrooms, 3,748 square feet
Listing agent: Dean Soufan, Broker of Record, Century 21 First Canadian Corp. 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.