Real Estate Recap: March 31
Residential market analysis and a sampling of high- and low-priced listings in London last week
Photo: 1185 Richmond Street is listed for sale at $1,495,000
REGIONALLY ― SOUTH TO Port Stanley, west to Strathroy, north to Lucan and east to Ingersoll ― there are approximately 500 residential properties for sale. This represents about a two-week supply of housing inventory.
New homes outside and inside the city continue to be swallowed up by eager buyers. How eager? A newly renovated lovely house in Old South sold for $630,000 in 2015. That same house sold for exactly double that price this week ― a 100 per cent increase in value in six years. We recognize the bulk of that gain was in the last six months, but it doesn’t take away from the unprecedented climb in valuation.
“The simple truth is this: for virtually every property, there appears to be a buyer who is willing to pay a record price to secure it”
Many economists, agents and market watchers want to make predictions about the real estate market, but the simple truth is this: for virtually every property, there appears to be a buyer who is willing to pay a record price to secure it. Now is the time to list your home, provided you’ve got somewhere to go.
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: 210-1174 Hamilton Road
MLS number: 40078426
List price: $150,000
Days on market: 13
Size: 1 bedroom, 1 bathroom, 500 square feet
Listing agent: Matthew Regan, Broker, and Jeff Nethercott, Broker, Royal LePage Real Estate
High
Address: 1185 Richmond Street
MLS number: 40086074
List price: $1,495,000
Days on market: 47
Size: 6 bedrooms, 7 bathrooms, 5,100 square feet
Listing agent: Jan Lesser, Broker, Sutton Group – Select Realty
London North
Low
Address: 206-600 Grenfell Drive
MLS number: 40086392
List price: $199,900
Days on market: 6
Size: 1 bedroom, 1 bathroom, 700 square feet
Listing agent: Scott Vannoord, Sales Representative, Sutton Group – Select Realty
High
Address: 235 Pebblecreek Walk
MLS number: 40081208
List price: $2,149,900
Days on market: 15
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: 117-148 Conway Drive
MLS number: 40086810
List price: $269,900
Days on market: 5
Size: 2 bedroom, 1 bathroom, 856 square feet
Listing agent: Ken Patpatia, Broker, Century 21 First Canadian Corp
High
Address: 228 Commissioners Road East
MLS number: 400744617
List price: $2,500,000
Days on market: 28
Size: 5 bedrooms, 6 bathrooms, 4,890 square feet
Listing agent: Danny Gole, Sales Representative, and Daniel Louis Polakovic, Sales Representative, The Agency Real Estate
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.