London Real Estate Market
London real estate market continues to offer an extensive array of opportunities across diverse property types – Homes, Townhomes, and Condos. London MLS® current stats show an average house price of $815,992 and 584 new listings in the last 28 days. London recent housing data indicates median days on the market for a home is 15 days.
Listings on the Market:
These grand dwellings, with an average $858.6K listing price, embody a luxurious lifestyle synonymous with opulence and comfort. They stand as testaments to architectural prowess and refined living, beckoning connoisseurs seeking a statement abode.
At an inviting $575.2K listing price, townhomes epitomize a harmonious blend of space and community living. They weave together a tapestry of warmth and accessibility, catering to families and individuals desiring a cosy yet connected lifestyle.
Embracing modernity at $448.1K listing price, London condos epitomize urban sophistication and convenience. They offer a gateway to a vibrant urban lifestyle, appealing to those seeking contemporary living with a touch of cosmopolitan allure.
Average Listing Price in the February:
Homes stand at an average listing price of $858.6K, indicating a relatively higher market value compared to other property types.
Townhomes follow with an average listing price of $575.2K, positioning themselves as a more accessible investment option.
Condos maintain a slightly lower average listing price at $448.1K, appealing to a specific market niche seeking affordability and convenience.
Change in average listing prices :
Homes and townhomes experienced marginal increases of 1.34% and 1.33%, respectively, indicating a gradual appreciation in value.
Condos, while maintaining stability with no change in the average listing price, sustain their market positioning as a consistent option for prospective buyers.
Average SOLD Price in February:
The actual transaction values within February portray insights into realized property values: Homes secured an average sold price of $757.3K, indicating substantial market activity and transactions in this segment.
Townhomes and condos recorded average sold prices of $563.5K and $448.2K, respectively, showcasing variations in market demand and pricing dynamics.
Change in Average SOLD Price:
Townhomes exhibited an impressive 11.37% increase in average sold prices, signifying heightened demand or value appreciation within this segment.
Homes saw a significant 6.69% rise in average sold prices, reflecting sustained market momentum and investor interest.
Condos maintained stability with no change in average sold prices, indicating a balanced market scenario within this category.
Inventory & SOLD Statistics:
Homes witnessed the highest number of new listings (1238) and sales (65) in the last 60 days, with an average of 18 days on the market, reflecting brisk activity and a robust selling-to-listing price ratio of 100.17%. Townhomes, with 346 new listings and 29 homes sold, showcased a slightly longer average of 19 days on the market and a commendable selling-to-listing price ratio of 99.98%. Condos, despite fewer sales (10 homes sold), spent an average of 24 days on the market, highlighting a steady but slightly slower pace within this segment, maintaining a selling-to-listing price ratio of 99.62%.
