Photo: 3074 Westminister Drive is listed for sale at $2,700,000
IT’S NOW THE end of April, 2021, and at this time the rise in market value seems to have hit the peak. We can’t be sure this pause will persist, but it has lasted a few weeks and may hold.
Why is this happening? For a start, the persistent climb can’t last forever. Many Londoners have listed their homes, causing a spike in inventory and taking the pressure off buyers. Policy makers are threatening action to “cool” the market, and just the threat has influence on buyer confidence. The main reason seems to be that we’ve run out of irrational buyers endlessly bidding up properties.
“Managing in a slowing market is just as stressful and complicated as in a heated market”
Managing in a slowing market is just as stressful and complicated as in a heated market. Being careful not to overpay, but also securing the properties your clients “must have” is a delicate and nuanced dance. Planning for an increasingly vaccinated population with an economy experiencing slow and gradual opening is new for all of us. Be careful, deliberate and, above all else, pay attention to your real estate agent’s advice.
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: 302-1174 Hamilton Road
MLS number: 40100223
List price: $129,000
Days on market: 1
Size: 2 bedroom, 1 bathroom, 642 square feet
Listing agent: Scott Vannoord, Sales Representative, Sutton Group-Select Realty
High
Address: 7 Gibbons Place
MLS number: H4100586
List price: $1,398,000
Days on market: 40
Size: 4 bedrooms, 3 bathrooms, 2,589 square feet
Listing agent: Sarah Butler, Sales Representative, Re/Max Escarpment Realty Inc.
London North
Low
Address: 102-1600 Adelaide Street North
MLS number: 40075786
List price: $279,900
Days on market: 1
Size: 2 bedroom, 1 bathroom, 900 square feet
Listing agent: Nathan Brooks, Sales Representative, Sutton Group-Select Realty
Address: 215 Pebblecreek Walk
MLS number: 40100785
List price: $1,799,900
Days on market: 7
Size: 5 bedrooms, 4 bathrooms, 5,139 square feet
Listing agent: Drew Johnson, Broker of Record, Coldwell Banker Power Realty, Brokerage
London South & West
Low
Address: 605-1104 Jalna Boulevard North
MLS number: 40102585
List price: $199,900
Days on market: 4
Size: 2 bedroom, 1 bathroom, 827 square feet
Listing agent: Heather Gunn, Sales Representative. Derek Christopher Moore, Sales Representative. Allen Fayad, Broker of Record, Century 21 First Canadian Corp A Team Inc.
High
Address: 3074 Westminister Drive
MLS number: 400744617
List price: $2,700,000
Days on market: 4
Size: 4 bedrooms, 3 bathrooms, 3,683 square feet
Listing agent: Robert Ure, Sales Representative. Alexis Day, Sales Representative, Century 21 First Canadian Corp., Brokerage
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.
Flim London manager Andrew Dodd chats about the art of attracting film production to London, building a hometown location library…
YXU is going to be home to Canada’s only purpose-built indoor beach volleyball facility. It’s not as strange as you…
The number of tall buildings in London has shot up over the past few years. And all those windows need…
821 Colborne Street: $1,149,900 for a stylish cottage charmer in sought-after Old North
A summary of recent commercial real estate activity in London