A change is in the air
What will London’s spring housing market look like? Expect a jump in sales ― and a long-awaited increase in supply
THERE IS ANECDOTAL evidence that real estate market activity is increasing. Although we’ve been dumped on with snow, the spring market may be pushing up like early flowers in search of warmth and light.
Multiple offers and sales above the asking price are certainly not the norm again, but even infrequent competition is a strong new measure of market activity.
“Real estate professionals seem to be universally optimistic that the spring market will bring buyers to take advantage of strong housing inventory”
Open houses are bringing home shoppers out of hibernation. Real estate professionals seem to be universally optimistic that the spring market will bring buyers to take advantage of strong housing inventory.
We will very likely see a surge of listings in the coming 45 days as sellers lose patience waiting for a price recovery that remains elusive. That increased number of listings will likely coincide with an increase in buyer activity, thus maintaining the balanced market we’re currently experiencing.
Market analysis provided by Marcus Plowright, Sales Representative, A Team London. Marcus can be reached at 519-872-8326 or [email protected].
High- and low-priced real estate listings around town this week
London East
Low
Address: 312-563 Mornington Avenue
MLS number: 40377666
List price: $168,900
Days on market: 12
Size: 1 bedroom, 1 bathroom, 683 square feet
Listing agent: Scott Vannoord, Sales Representative, Sutton Group – Select Realty Inc.
High
Address: 1745 Kilally Road
MLS number: 40377971
List price: $3,250,000
Days on market: 18
Size: 3 bedrooms, 4 bathrooms, 4,050 square feet
Listing agent:James Hudson Smith, Sales Representative, Sutton Group – Select Realty Inc.
London North
Low
Address: 54-1220 Royal York Road
MLS number: 40365229
List price: $364,900
Days on market: 56
Size: 2 bedroom, 1 bathroom, 1,150 square feet
Listing agent: Jordan Smeltzer, Sales Representative, Oak And Key Real Estate Brokerage Inc.
High
Address: 565 Leyton Crescent
MLS number: 40328768
List price: $3,280,000
Days on market: 158
Size: 6 bedrooms, 5 bathrooms, 5,966 square feet
Listing agent: John H. Crosby, Sales Representative, Royal Lepage Triland Realty
London South & West
Low
Address: 32-198 Springbank Drive
MLS number: 40325975
List price: $135,900
Days on market: 166
Size: 2 bedroom, 1 bathroom, 640 square feet
Listing agent: Zahra Khawari, Sales Representative, PC275 Realty Inc.
High
Address: 75 Woods Edge Close
MLS number: 40351626
List price: $3,375,000
Days on market: 43
Size: 5 bedrooms, 7 bathrooms, 8,308 square feet
Listing agent: Owen Price, Sales Representative, Keller William Lifestyle Realty
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.