London Ontario Real Estate Sales Robust July 2018

If you are looking for a houses or condos for sale around London & South West Ontario here are a few neighbourhoods in London you may want to consider.

Byron Delaware Dorchester
Hunt Club Hyde Park Ilderton
Kilworth Komoka Lambeth
Masonville Oakridge Pond Mills
Riverbend Stoneybrook Summerside
Sunningdale University Western Ontario Uplands
Warbler Woods Westmount Wortley Village Old South London

 

 London Ontario and Area House & Condo Sales for July 2018

  Sellers Market London Ontario

 

July 2018 marked the third best July for London Ontario real estate since 1978 as exactly 1000 homes were sold using our local MLS, London and St. Thomas Association of REALTORS® (LSTAR)

This is the third consecutive month of at least 1,000 homes being sold and the resale activity remains above the 10-year average. Inventory remains at a 10-year low, while we continue to see an increase in average sales price,

By geographic area, London East made the largest gains, with an average price of $288,648 – up 14.3% from July 2017 and up 40.2% compared to July 2015. The average sales price in London North was $441,035 – up 8.0% from July 2017 and up 35.9% compared to July 2015. Meanwhile, the average sales price in London South was $370,399, up 10.9 percent from July 2017 and up 32.2% from July 2015.

Overall, the average July sales price across London and St. Thomas was $360,068 – up 10.3% from July 2017 and up 34.2% from July 2015. Going back further, it’s a 68.2% increase compared to the average sales price 10 years ago.

St. Thomas saw a total of 79 homes sold in July, down 7.1% from the same period last year. For inventory, there were 87 active listings, down 22.3% from last July and down 67% from July 2015. The average home sales price in St. Thomas was $303,988 up 15.9% from July 2017 and up 35.5% from July 2015.

The following chart is based on data taken from the CREA National MLS® Report for June 2018 (the latest CREA statistics available). It provides a snapshot of how average home prices in London and St. Thomas compare to other major Ontario and Canadian centres

Average Real Estate Sales Across Canada

 March 2018 Numbers

February 2018 Numbers

January 2018 Numbers

London Ontario Real Estate Market Down 37.9% March 2018

March Sales Down 37.9% in London Ontario and Area

Home sales in London Ontario and area in March 2018 were down 37.9% from March 2017 as reported by The London and St Thomas Association of Realtors (LSTAR), with 769 homes being sold.

  Why?

Very few houses and condos for sale, for example, there were 1,192 active listings (homes for sale), down 20.4% from this time last year and down 55.3% from March 2016. This is similar to last month with the March 2018 inventory being the lowest level for the month in the last 10 years.

London Ontario Real Estate Market

Average home sales price across London and St. Thomas continues to rise, despite the low inventory. The average March sales price in the region was $364,112 up 8.6% over March 2017.

Geographically, London South was $360,587 up 3.1% from last March.  London North, average home sales price was $438,827 up 7.1% compared to the previous year, while in London East; it was $291,161 an increase of 8.4% from March 2017. In St. Thomas, it was $295,980 up 18.5% over last March.

According to the Canadian Real Estate Association (CREA), a ratio between 40% and 60% is generally consistent with a balanced housing market. In March, London and St. Thomas had a sales-to-new listings ratio of 75.1%, which CREA says represents conditions in the marketplaces that favour sellers. It reinforces the trends LSTAR Members have been experiencing, with low supply and high demand, and also managing multiple offer situations and out-of-town interest in our region.”

St. Thomas saw a total of 73 homes sold in March, down 29.1% from the same period last year. When looking at inventory, there were 42 active listings, down 51.2% from last March.

The following chart is based on data taken from the CREA National MLS® Report for February 2018 (the latest CREA statistics available). It provides a snapshot of how average home prices in London and St. Thomas compare to other major Ontario and Canadian centres.

London Ontario Real Estate Comparison  Across Canada

February 2018 Numbers

January 2018 Numbers

Summerside London Ontario Home Prices Are Increasing

Summerside London Ontario houses and condos set a record for sales in 2017. with 117 houses selling through our MLS system for a median 103.78% of the asking price and these took about 8 days to sell.

30 condos were sold, averaging 101.53% of the asking price and about 14 days on the market. I have prepared an analysis of these sales and the numbers and you can get these by scrolling down the page.

Summerside Houses for sale London Ontario

 At the present time, there is a shortage of good quality homes for sale in Summerside London Ontario.

  Again, opinions and false perceptions can be costly in real estate, our research team only works with facts and absolutes, our clients love it!

   98 houses sold in the Summerside neighbourhood of London Onatrio in 2016, starting from $229,000 and up to $429,000 and all sold close to the asking price and within an average 25 days!

27 condos were sold from as low as $158,000 and up to $269,000  in 2016 and these took about 29 days to sell and sold for 99.2% of the asking price.

Here are all the houses & condos for sale on MLS in Summerside London Ontario

Summerside London is a great neighbourhood for families as it has a great quick access to highway 401 and Veterans Memorial Parkway, making the commute to work that much less driving time!

Summerside is one of London Ontario’s newer communities and is located in  the South East of London, East of Highbury, north of the 401, West of Veterans Memorial Parkway (Airport Road) and south on Commissioners Road East.

Summerside  has been growing at London’s southeast edge of the city for about 14 years or so. Summerside holds a lot of appeal for those who wish to live in London, but whose work carries them to neighbouring communities such as St. Thomas, Ingersoll or Woodstock or quick access to Highway 401.

It is a popular area for younger families as house prices are attractive.  This community offers single family houses, condo townhouses, attached and de-tached condo bungalows and a gated condo corporation. There are houses being built all the time and the resale market is vibrant!

Plenty of shopping, schools and churches  nearby.

Summerside Map of area in London Ontario

    

Other London Neigbourhoods

London Ontario Real Estate Market January 2018

The London and St Thomas Association of REALTORS® (LSTAR) announced 400 homes were sold in January, down 28.8% from January 2017, which held the record for best January results since.

London Ontario Real Estate Market Graph

Why were sales down?

Very few homes for sale! There were 623 new home listings on MLS, down 31.8% from last January, and there were 1,020 active listings, down 27.7% from this time last year.

Average home sales price continues to rise across London and St. Thomas. The average sales price in the region was $333,424, up 9.8%, London South was $351,167 , up 11.5%, London North was $397,075, up 6.2%, London East, was $294,348, an increase of 32.1% from January 2017.

In St. Thomas, it was $247,135, up 19.7% over last January. 30 homes sold in January in St Thomas, down 36.2% from last year. There were 66 active listings, down 34.7% from last January, and there were 46 new listings, down 32.4% from the previous year.

As you can see, this is a seller’s market. A seller’s market is when there are more buyers than sellers and a lack of good homes for sale.

sellers Market London Ontario

What does this all mean?

If you were ever contemplating selling a house or a condo in London Ontario and area, now is a good time to capitalize on the market. Will the spring be better or worse? Who knows but what I do know, gambling on home prices is even worse than investing or should I say gambling in the stock market, mutual funds, playing the ponies or flipping a coin!

The following chart is based on data taken from the CREA National MLS® Report for December 2017 (Canadian Real Estate Association). It provides a snapshot of how average home prices in London and St. Thomas compare to other major Ontario and Canadian centres.

January 2018 London Ontario Real Estate Market Results

Lambeth London Ontario Houses & Condos Record Sales 2017

Lambeth London Ontario houses & condos,  including Talbot Village and Southwinds set a record in 2017 with 232 houses selling for close to the asking price and taking about 20 days to sell on average, for condos in Lambeth, 8 were sold, a median time to sell was 25 days and these sold for 98.62% of the asking price.

Here is an analysis of these sales in 2017  for both houses and condos.

Search all the houses & condos for sale in Lambeth, Talbot Village

142 houses in the Lambeth, Talbot Village, Southwinds Village neighbourhood in London Ontario were sold in 2016 from as low as $284,000 to $2,400,000 and these were on the market an average 38 days and sold very close to  asking price!

 4 condos were sold for an average $432,594. These took about 18 days to sell!

  In 2015

113 houses changed hands in Lambeth and  Talbot Village neighbourhood in south London in 2015 for an average price of $447,162 and sold for 97% of the asking price and took on average 44 days to sell!

In the same period, 8 condos sold at an average price of $380,475 which was 2% less than the asking price and were on the market an average 60 days.

  In 2014

2014 was quite active for Lambeth houses and condos with 119 houses exchanging hands for an average price of $412,343 and these sold for 97% of the asking price and sold within 42 days!

9 condos sold in the Talbot Village area at an average $395,333 and these were on the market an average 59 days and sold for 99% of the asking price.

 More London Ontario Neighbourhoods

 

Lambeth houses & Condos London Ontario

Lambeth is a neighbourhood in the south west of London about 10  minutes to downtown.

The 401 and 402 highways are 3 minutes away and within a 20 KM drive are 6 golf courses! There is a newer shopping plaza at the corner of Colonel Talbot Road amd Southdale Road West with groceries, a pharmacy, dining and fast food, banking etc. As well a newer neighbourhood  called Talbot Village.

Schools and churches are bountiful  along with professional services. Lambeth has homes from  entry level to executive homes and condos. Drive through Talbot Village for new houses and condos, Southwinds Village for some sprawling homes, or the Outer Drive area going south on Colonel Talbot Road or the heart of Lambeth, some quaint shops and a multitude of services.

 

Lambeth in London Ontario

Elementary Schools

Lambeth Public School

St. George Catholic School

High Schools
Saunders Secondary School

Regina Mundi Catholic College

St. Thomas Aquinas Catholic Secondary School 

Sports

Lambeth Minor Hockey

Lambeth Youth Soccer

London Area Sportsfields

Churches

Forest City Community Church

New Hope Community Church

St.George Roman Catholic Church

Trinity Anglican Church

Uplands Homes London Ontario Sale Prices

nds homes London Ontario set a record in 2017 for sales, with 97 houses being sold through our MLS system for 101.46% of the asking price and taking about 9 days to sell. 29 condo townhouses and town homes changed owners as well, receiving a median 101.51% of the asking price and the days it took them to sell was 11 days!

  I have prepared a breakdown of these homes in Uplands that sold and you can download these by going here.

Uplands London Ontario  is located in the north end and  bounded by Richmond Street to the west, Sunningdale Road to the south, Adelaide Street North to the east and London municipal boundary to the north.

Google Map of Uplands

Uplands London Ontario

  Uplands is neighbourhood of London with a great cross section of executive style homes, one floor bungalows and a great selection of one floor condo homes, both attached and detached.

Living in Uplands is convenient to major shopping, churches, schools, dining, golf courses and other recreation venues and attractions.

house sales in Uplands in London Ontario

 

  102 houses sold in the Uplands neighbourhood of London Ontario in 2016  for  99.2% of the asking price and took about 27 days to sell. 26 condos in  Uplands were sold through MLS in 2016 or 98.6% of the asking price and the median days on the market was 33.

Look at these houses and condos for sale in Uplands in London Ontario.

Other London Neigbourhoods

Hyde Park London Ontario Real Estate Sets Record

 Hyde Park London Ontario Real Estate Houses & Condo Prices

Hyde Park London Ontario real estate sales in 2017 set a record for home sales with 300 houses selling through MLS for 103.07% of the asking price and on average, taking 7 days to sell! 112 condos in Hyde Park were sold, average 100.04% of the asking price and the median days these took to sell was only 15 days!

I have prepared a breakdown of all those sales for 2017 in Hyde Park which you can receive instantly by going here.

Hyde Park is a neighbourhood located in North West London, with  Fanshawe Park Road West to the north Hyde Park Road & Sarnia Road centres the neighbourhood and east of Wonderland Road north, all the way to the south west corner of Oxford Road W . ( Whew! Here is the map, less talk!)

 

2016

    285 houses in the Hyde Park neighbourhood in London Ontario sold through MLS in 2016 , starting as low as $316,000 and up to $605,000 and these all sold close to asking price in about 31 days!

In 2016, 88 condos in Hyde Park were sold, from $218,000 to as high as $620,000 and these took about 41 days to change owners and for 98.4% of the asking price.

All the houses & condos for sale in Hyde Park London Ontario on MLS

 

Hyde Park Neighbourhood by City of London Ontario Hyde Park Neighbourhood as per The City of London

 

Hyde Park London Ontario Map

Other London Neighbourhoods

Record Real Estate Sales London Ontario & Area 2017

If you are looking for a houses or condos for sale around London & South West Ontario here are a few neighbourhoods you may want to consider.

Byron Delaware  Dorchester
Hunt Club Hyde Park Ilderton
Kilworth Komoka Lambeth
Masonville Oakridge Pond Mills
Riverbend Stoneybrook Summerside
Sunningdale University Western Ontario Uplands
Warbler Woods Westmount Wortley Village Old South London

 

A historic year for real estate in 2017

  11,203 Home Sales sets Record in London Ontario & Area for the first time  

The London and St. Thomas Association of REALTORS® (LSTAR) announced that 2017 marked a historic year for residential real estate, with home sales surpassing 11,000 for the first time since LSTAR began tracking data in 1978. In 2017, a total of 11,203 homes were sold, up 8.0% from 2016.

London and St. Thomas reached many ‘firsts,’ from six consecutive months of record sales to robust activity from buyers from outside the city.

In 2017, the average sales price across London and St. Thomas was $330,037 up 18.0% from 2016. By geographic area, London South was $340,793, up 21.7% from 2016. In London North, average home sales price was $407,801, up 18.1% compared to the previous year, while in London East, it was $258,734, an increase of 16.9%.  In St. Thomas, it was $261,481, up 15.2% over 2016.

St. Thomas saw a total of 901 homes sold in 2017, up 6.8% from 2016. In 2017, there were a total of 14,301 home listings, down 1.2% from 2016. The trend of high demand with low supply continued in 2017, with inventory (called Active Listings) down 35.6% from the previous year.

The following table is based on data taken from the CREA (Canadian Real Estate Association) national MLS® Report for November 2017 (the latest CREA statistics available). It provides a snapshot of how average home prices in London and St. Thomas compare to other major Ontario and Canadian centres.

City Average Sale
Vancouver $1,081,876
Toronto $779,693
Fraser Valley $741,172
Victoria $684,843
Hamilton $545,690
Calgary $450,700
Kitchener-Waterloo $445,855
Niagara $389,016
Ottawa $385,058
Edmonton $372,911
London St. Thomas $332,607
Windsor-Essex $265,565
CANADA $513,433       

November 2017 Numbers

October 2017 Numbers

 For a breakdown of sale prices to asking prices and more, contact me for more detailed information:
 We have the facts about real estate in London Ontario
 I can give you :
  • Days on the market vs List Price Median for the last 10 years
  • Historic count of active listings
  • Historic sales for the last 10 years
  • Historic sales price trends
  • Historic sales and price range
  • Original price vs sold price
  • Sale price / listprice ratios

Why is this information important? Whether you were buying or selling, these numbers will give you peace of mind of the neighbourhood trends, plus, a confidence level for price, expectation levels for negotiating and about 8 other advantages I can help you with.

Our knowledge of the market, our ability to get hard facts and not assume anything or give an opinion that could be biased is the cornerstone of our business and the reason why our volume of business and referrals are growing exponentially.

Oh, a hard work ethic makes a huge difference as well!

Westmount Neighbourhood London Ontario Real Estate

The Westmount neighbourhood in London Ontario has a combination of newer and older houses and condos  and actually 3 very distinct areas, being east of Wonderland Road to Andover, west part of Wonderland Road to a little past Barclay and south of Commissioners Road W to Springbank Drive .

Westmount London Ontario Property Values

Westmount Mall has had a dramatic change from a retail shopping mall to a combination of medical/offices on the second floor and services & retail on the main floor & a Cineplex theatre.

Further south of Southdale and along Wonderland Road South, are the big box stores, services, restaurants and recreational activities , a library and along Southdale West, the new YMCA is scheduled to open soon.

Westmount has an abundance of schools and churches as well for all denominations.

As you can see, the Westmount neighbourhood is a convenient area to live and with the extention of Wonderland Road South to the 402 make traveling west or east of London along the 401 much more convenient.

 Westmount Boundaries by Google

City of London Ontario  City of London Ontario Neighbourhood Guide

In 2017, 166 houses in Westmount London Ontario were sold for close to asking price and the median time it took these to sell was 10 days, 84 condos were also sold through our MLS system for close to asking price and were on the market for about 15 days!

As you can see, with houses & condos in Westmount selling within 15 days or less and for the asking price or more, buyers must be more in tune with the market and organized and for sellers, choosing the right Realtor will be a huge benefit in this market.

I have prepared a breakdown of the houses and condos that were sold in 2017 and you will be able to see the properties that sold quickly and for more money than those that were overpriced that took much longer to sell. You can get these reports instantly by requesting them here.

Search all the houses & condos for sale in Westmount London Ontario on MLS

 166 houses sold through MLS in the Westmount neighbourhood of London Ontario in 2016 ,hese houses took about 23 days to sell and about 99.2% of the asking price! 93 condos in Westmount changed hands for 99% of their asking price and were on the real estate market for 33 days.

2016  & 2017 were record years for real estate sales in London Ontario and area and Westmount was no exception, other than home buyers are experiencing a shortage of good homes for sale.

In 2015160 houses sold in Westmount in south west London Ontario through MLS for an average 98% of the asking price and these took about 33 days to sell. 107 condos in Westmount were sold for an  average 97.6 % of the asking price and these took about 42 days to sell.

 

map of Westmount London Ontario

 More London Ontario Neighbourhoods

Wortley Village Old South London Real Estate Update

  There has been a lot of activity concerning real estate sales in Wortley Village, Old South London so far from January 1, 2017 to July 9, 2017 , with sale prices up , multiple offers, less days on the market (how many days it takes a house to sell) and a few buyer and seller frustrations!

148 houses were sold through MLS in this period, it took about 15 days to sell at an average $355,400 which was 104% of the asking price.

8 condos exchanged hands as well, taking around 18 days to sell, averaging $393,063 which was 102% of asking.

In this blog I wrote The London Ontario real estate market in July  , the article reflects what Old South did compared to the rest of London Ontario and 10 other cities across Canada

As well,  how some external events may have an effect on the real estate market, especially prices and may occur within the next feew months!

 206 houses were sold in Wortley Village, Old South London in 2016 through MLS, starting as low as $200,000 and up to $749,00 and the 26 days on the market and most selling for full price verify that the real estate market in London Ontario and especially this neighbourhood  is very healthy!

11 condos sold in the same period for 98.9% of the asking price and took about 42 days to sell.

​  The character and charm of this great London neighbourhood is what attracts home buyers and the people who do live in Old South love the ability to walk and shop in the Wortley Village core, with tree lined streets and no cookie cutter homes.

Living in Old South London Ontario         

​ Check out these homes for sale in Wortley Village & Old South London

                         Wortley Village  in Old South London    

Wortley Village is heart of Old South London. The unique village ambiance associated with Wortley Road is the result of a century of change and adaptation.An attractive commercial setting has developed into a unique shopping & dining area.

Wortley Village London Ontario

Near by is Thames Park, which provides recreational activities including  4 tennis courts, playground equipment, outdoor pool,  picnic areas, and access to London’s riverside bike and walking trails.

 

trails in London Ontario

With some buildings over 100 years old, over 80 small businesses and establishments  and with an abundance of inviting parks, Old South is the only region in London which offers an enticing blend of history, shopping and nature in a few square kilometers.

The homes in Wortley Village and Old South offer uniqueness, style and a neighbourhood belonging with quite a few events held yearly . The new YMCA has proven to be quite popular and another drawing card for Old South London

 

Old South Wortley Village

Old South Business Association Wortley Village official website with events and interesting news.

A Map of Old South London Ontario

Old South London Ontario Map

 

Other London Neigbourhoods