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What is the Action on Condos in London, Ontario

By
Real Estate Broker/Owner with Envelope Real Estate Brokerage Inc

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!

Posted by

Ty Lacroix Broker of Record & Owner

          

'NOT ALL REALTORS* ARE THE SAME', One call or email to me and you will know why!

Your London and S/W Ontario source for results!

519-435-1600   www.enveloperealestate.com

Comments (2)

Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

Ty,

 

Thanks, for the update on the London market.

 

Your summary makes it easy to understand.

 

Brian

Oct 20, 2009 12:27 AM
Ty Lacroix
Envelope Real Estate Brokerage Inc - London, ON

Thankyou Brian, your comments are always appreciated!

Ty

Oct 20, 2009 01:32 AM