London Ontario
Time taken to sell a property
Usually, it takes a very short time to sell property in this city but sometimes it takes a long time. The best time for selling a property in London Ontario is late summer. Seller can sell their property almost within a month in this city.
Average prices for condos/townhomes/homes
Prices of houses and condos of this city was not record breaking in previous year. But a few years ago, the average prices and sales of this city was considered as best and top-rated seller city of Ontario. The average prices of houses located in London Ontario is approximately $430,000. But according to a recent survey of Canadian Mortgage and Housing Corporation, it is expected that prices of condos and townhomes will bump up in near future.
Are sellers getting close to asking price or over asking price?
Yes, one of the amazing updates of the current housing market is that sellers are getting close to asking prices. As sellers are giving chance to buyers to grasp the property in the affordable price, more sales are expected. Moreover, when a seller demands affordable price, buyers get easily ready to bear low risk chances if they are willing to sell it after a few days.
Number of days and offers required to sell property
Recent data of London housing market depicts that the average days for a condo or a house in market is approximately 13 days. London Ontario is famous for timely and sharp services and sales a condo or house only in a fortnight on average. But this fast selling requires a highly amazing and captivating offer for buyers. The main purpose of providing more than one offers is to increase the market value of property and to get exposure with large number of audience.
Growth of real estate market
Real estate market of London Ontario is increasing rapidly as 1053 new listings are only observed within a month. This is one of the greatest advancements of this city to get such a huge number of listings in a limited time. The average house price of this city is $443,238. Average sold price of this city is near about $443,000. As the housing market of this city is growing well, its monthly and yearly change will also be good. Uptill now, the monthly change of this city is only 16.4% while the quarterly change is 31.8%. Yearly change of this city is approximately 78.4%.
Active preconstruction developments
The housing market of any city is also affected by its active preconstruction development. If the preconstruction house and condo developers are increasing in a city, it will also enhance impact of city in real estate market. So, this is amongst one of the reasons of fastest growing market of this city. Most famous active preconstruction developers of this city are The Heathwoods and Victoria Flats. A number of other preconstruction developers are also working in this city and are expected to increase the real estate market of this city in next year.
