Real Estate Recap: August 11, 2021

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

Photo: 1938 Kilgorman Way is listed for sale at $5,150,000

CONSIDER THE FOLLOWING London-area residential real estate trends since the region has ended the lockdown:

• Average Prices have fallen 4 per cent;
• New listings declined 30 per cent;
• Home sales declined 25 per cent;
• Days on market has increased by 40 per cent.

These statistics tell us that studying the market, searching for homes and investing in real estate have stopped being the most important activity of Ontario residents.

We’ve run from our homes in search of release, friendship, change and out-of-house experiences. Restaurants, resorts, campsites and beaches are packed. The lockdown saved tens of thousands of lives. It gave us time to achieve world-leading vaccination rates. And now we’re out enjoying the freedom this sacrifice afforded us. 

Remember our houses have value because they are part of a growing, successful and vibrant community. The value of community is driven by our mutual sacrifices ― watching over each other, enforcing laws, building sidewalks, providing transit, controlling sprawl, saving trees, etc. 

In pandemic times, to support our neighbours we wear masks, socially distance and most importantly, get vaccinated. If you are not vaccinated, you are a host and friend to the virus, perpetuating its existence. You help spread the virus, risking our children under the age of 12. You risk a fourth wave of the unvaccinated, once again putting all of us at risk for additional lockdowns, closed schools, challenged businesses and unnecessary illness.

The average London home has increased $250,000-plus in value over the last few years. That new wealth means nothing if your community isn’t healthy. It means nothing if the virus gets hold of you. Be a good neighbour, support our community, save yourself ― get vaccinated!

Market analysis provided by Marcus Plowright, Sales Representative, A Team London. Marcus can be reached at 519-872-8326 or marcus@ateamlondon.ca.

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London East

Low

Address: 79-2189 Dundas Street East
MLS number: 40138177
List price: $135,000
Days on market: 33
Size: 2 bedroom, 1 bathroom, 818 square feet
Listing agent: Danica Dixon, Sales Representative, EXP Realty, Brokerage

High

Address: 151 Travelled Road
MLS number: 40120910
List price: $2,800,000
Days on market: 71 
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: 50-70 Fiddlers Green Road
MLS number: 40151358
List price: $299,900
Days on market: 1
Size: 2 bedroom, 1 bathroom, 1068 square feet
Listing agent: Kevin Miller, Sales Representative, EXP Realty, Brokerage

High

Address: 1382 Corley Drive
MLS number: 40129877
List price: $2,698,800
Days on market: 53
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: 304-1100 Jalna Boulevard
MLS number: 40149206
List price: $199,900
Days on market: 11
Size: 1 bedroom, 1 bathroom, 600 square feet
Listing agent: Rob Rudell, Broker, Keller Williams Lifestyle Realty, Brokerage

High

Address: 1938 Kilgorman Way
MLS number: 40146198
List price: $5,150,000
Days on market: 15
Size: 6 bedrooms, 5 bathrooms, 4,285 square feet
Listing agent: Simon A Farrugia, Sales Representative, Sutton Group Preferred Realty Inc. 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.