Photo: 2648 Woodhull Road is listed for sale at $2,499,900
THE LIGHTS WENT out! The real estate market is now as slow as the market was hot a short month ago.
Agents across the board are seeing listings not even get showings, let alone offers. Pricing for multiple offers is quickly becoming a thing of the past.
“The seller’s market has evaporated as the number of listings balloons. In a few days, we’ll find out if the average price in June trends lower for the second straight month”
Sellers are having to learn patience ― something unheard of for the last 36 plus months. The patios are open, school is out, golf courses are packed and the heat has arrived with intensity. Real estate historically slows in the summer months, as parents keep busy with kids out of school and vacation time trumps.
The seller’s market has evaporated as the number of listings balloons. In a few days, we’ll find out if the average price in June trends lower for the second straight month (I would not be surprised). These adjustments are not significant, but the trend certainly is. Consider the old adage: buy on the dip!
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: 40126181
List price: $144,900
Days on market: 21
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: 29
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: 160 Monmore Road
MLS number: 40133106
List price: $299,900
Days on market: 6
Size: 3 bedroom, 2 bathroom, 1,256 square feet
Listing agent: Kristina Bradley, Sales Representative, Century 21 First Canadian Corp., Brokerage
High
Address: 1382 Corley Drive
MLS number: 40129877
List price: $2,698,800
Days on market: 11
Size: 5 bedrooms, 5 bathrooms, 3,320 square feet
Listing agent: Kim Mullan, Broker, Sutton Group, Select Realty Inc., Brokerage
London South & West
Low
Address: 33-198 Springbank Drive
MLS number: 40125291
List price: $189,900
Days on market: 22
Size: 2 bedroom, 1 bathroom, 1,500 square feet
Listing agent: Ev Threadgould, Sales Representative, The Realty Firm Inc., Brokerage
High
Address: 2648 Woodhull Road
MLS number: 40122343
List price: $2,499,000
Days on market: 28
Size: 3 bedrooms, 4 bathrooms, 3,795 square feet
Listing agent: Warren Shantz, Broker, Judy A Robinson, Sales Representative, Mark Vieira, Salesperson, Sutton Group Preferred Realty Inc., 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.
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