What is the Action on Condos in London, Ontario What are condos selling for in London, Ontario? As I write this on October 19, 2009, I see that the condo market is doing quite well in London.
The average days it took for a condo to sell in London up to September 2009 and the days on the market for October has shown an improvement of about 7 days.
In North London January 1, 2009 to Sept 30, 2009 47 days. October 1-19 42 days
In South London " " " " 51 days " 44 days
In East London " " " " 46 days " 39 days
In North London, condos sold for 98% of the asking price. In South London it was 97% and in East London it was 96%.
What does all this mean? The numbers tell us that the London Real Estate market is stable, the inventory of condos is neither a buyers or sellers market and the selling prices asked are reasonable.
So you may ask, is this a good time to buy a condo or sell my condo? For buyers, there is a good list of quality condos for sale in all styles and neighbourhoods and for sellers, you know your condo is going to sell within 5-6 weeks and if it is marketed properly, less than 2 weeks!
For neighbourhood sales or a specific style of condo price information, let me know and your inbox will have that information quickly!
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