Real Estate Recap: June 16, 2021

Residential market analysis and a sampling of high- and low-priced listings in London

Photo: 867 Zaifman Circle is listed for sale at $1,998,988

THE MARKET HAS gone through a second month of holding steady in terms of average selling price. The upward trajectory seems to have levelled off for now. We remain in a seller’s market with only about a week’s inventory on hand, but price has stabilized.

The drift of buyers coming down the 401 appears to have slowed, and certainly buyer attitudes towards competing for homes has diminished.

With this stabilization, the task of pricing listings for multiples is becoming a minefield for agents and sellers. I feel we were here a year ago, wondering what the future held for the real estate market.

Vaccination pace, especially in our community, is rapid and escalating. Our economy is just starting the reopening phase for stores and patios. Buyers should start to enjoy a more normalized market, with the frenzy at an end, but it remains to be seen where we go from here.

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: 108-1174 Hamilton Road
MLS number: 40122383
List price: $144.900
Days on market: 7
Size: 1 bedroom, 1 bathroom, 505 square feet
Listing agent: Steve Wiggett, Sales Representative, Royal LePage Triland Realty

High

Address: 151 Travelled Road
MLS number: 40120910
List price: $2,800,000
Days on market: 15 
Size: 11 bedrooms, 5 bathrooms, 6,120 square feet
Listing agent: Geoff Mitchell, Sales Representative, ReMax Centre City Realty Inc., Brokerage

London North

Low

Address: 607-600 Grenfell Drive
MLS number: 40123365
List price: $199,900
Days on market: 12
Size: 1 bedroom, 1 bathroom, 700 square feet
Listing agent: Scott Vannoord, Sales Representative, Sutton Group- Select Realty Inc., Brokerage

High

Address: 867 Zaifman Circle
MLS number: 40120456
List price: $1,998,988
Days on market: 14
Size: 7 bedrooms, 6 bathrooms, 3,250 square feet
Listing agent: Angie Reeves, Broker, Remax Centre Cty Realty Inc., Brokerage

London South & West

Low

Address: 33-198 Springbank Drive
MLS number: 40125291
List price: $189,900
Days on market: 8
Size: 2 bedroom, 1 bathroom, 1,500 square feet
Listing agent: Ev Threadgould, Sales Representative, The Realty Firm Inc., Brokerage

High

Address: 3074 Westminister Drive
MLS number: 400744617
List price: $2,700,000
Days on market: 53
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

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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.