2010 Home Sales in Old South, Wortley Village
For 2010, real estate sales in Old South and Wortley Village were quite vibrant considering the economy and the naysayers predictions of doom and gloom.
With London having a diversified economy and a wide array of lifestyles to choose from, I feel we should take the following facts as an indicator that London has a very stable real estate market as we do not see the spikes and lows of some other markets in Canada.
In 2010, the average listing price of a home in Old South was $261,111 versus $242,683 in 2009
Homes sold for 99% of asking price in 2010 while in 2009 that number was 97%
202 homes changed hands in this trendy neighbourhood of London and it took an average of 29 days for a home to sell in 2010. In 2009, there were 220 sales and it took 37 days for a home to sell.
As you can see, 2010 was not that bad, home prices have remained strong and the outlook for 2011 is quite positive.
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