Real Estate Recap: March 1 to 7, 2021
Residential market analysis and a sampling of high- and low-priced listings in London last week
Photo: 235 Pebblecreek Walk is listed for sale at $2,249,900
ON TWO SEPARATE occasions in the last 20 days, a local builder launched an online registration for new townhomes being built in the north end. Each time, literally within seconds of the site going live, all the units were sold.
Sixteen townhomes in less than 20 seconds. Most buyers were from the GTA.
Our market feels overvalued to everyone operating within it, but when viewed from higher-valued markets, London continues to be great value. Single family homes in the Kitchener-Waterloo market now average over $900,000.
“Within seconds of the site going live, all the units were sold. Sixteen townhomes in less than 20 seconds”
Our relative value will continue to drive migration down the 401, and our capacity as a city to keep up with demand will define whether affordability and growth continue to define our future.
The building industry is London’s largest employer, and it can be the engine that fuels growth and pulls the city out of the Covid slowdown.
Market analysis provided by Marcus Plowright, Sales Representative, A Team London. Marcus can be reached at 519-872-8326 or [email protected].
London East
Low
Address: 204-1174 Hamilton Road
MLS number: 40067682
List price: $150,000
Days on market: 20
Size: 1 bedroom, 1 bathroom, 437 square feet
Listing agent: Nikki Morris, Sales Representative, Century 21 Heritage House
High
Address: 966 Richmond Street
MLS number: 40069861
List price: $1,499,000
Days on market: 18
Size: 5 bedrooms, 4 bathrooms, 3,164 square feet
Listing agent: Kim Mullan, Broker, Sutton Group – Select Realty
London North
Low
Address: 210-15 Jacksway Crescent
MLS number: 40074886
List price: $319,900
Days on market: 12
Size: 2 bedroom, 2 bathroom, 900 square feet
Listing agent: Steve Wiggett, Sales Representative, Royal LePage Triland Realty
High
Address: 235 Pebblecreek Walk
MLS number: 40075646
List price: $2,249,900
Days on market: 4
Size: 4 bedrooms, 4 bathrooms, 4,358 square feet
Listing agent: Richard Clinton Cane, Sales Representative, and Scott Purdy, Broker, Royal LePage Triland Premier Brokerage
London South & West
Low
Address: 43-198 Springbank Drive
MLS number: 40070676
List price: $110,000
Days on market: 14
Size: 1 bedroom, 1 bathroom, 780 square feet
Listing agent: Vincent James Mitchell, Broker, Royal Lepage Triland Realty
High
Address: 812 Gideon Drive
MLS number: 40064387
List price: $2,795,000
Days on market: 25
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.