I am sure you have heard the talk about prices ricing and multiple bids and a shortage of good homes for sale , well, it is not talk, it is the truth as the numbers below prove.
The real estate market in the Medway, Richmond Hill area of London Ontario has been indicative of the majority of the London Ontario neighbourhoods and for the six month numbers for 2017 you can find them here, plus,my take of what the next six months will look like.
44 houses in the Masonville area iof London sold from January 1, 2017 to July 12, 2017 for an average price of $623,681 and 14 condos were so as well, averaging $301,800, these all took about 13 days to sell through our London Ontario MLS and most sold for 104% of the asking price!
64 houses in the Masonville, Medway Heights and Richmond Hill area of London Ontario were sold in 2016, from as low as $359,000 and up to $690,000and these sold at asking price or very close and as this neighbourhod is in demand, the houses sold in less than 26 days!
10 condos were sold as well, from $180,000 to $290,000 and took 18 days to sell for 99.4% of the asking price!
66 houses changed hands in the Masonville, Medway Heights area of London Ontario on MLS for an average $473,930 which was 97% of the asking price and these took 29 days to sell!
11 condos were sold for 97% of the asking price of $241,182 and these were on the market an average 37 days!
62 houses sold for an average $523,369 which was 97% of the asking price and those that did sell, took on average 35 days to sell!
9 condos sold in the same period at an average $244,576 which was 98% of the asking price and these were on the market an average 45 days!
If you will be leaving London or moving to another part of London, who is going to buy your house or condo? For how much? How long will it take? When should I start? All good valid questions and I have written some guidlines which after reading will enable you to make a good financial and emotional decision.
Masonville,Medway Heights, Richmond Hill neighbourhood is bordered by Richmond St., Fanshawe Park Road West in the north, Ambleside Drive to the west and Windermere Road to the south is a very distinct neighbourhood in London Ontario with homes starting in the 3's to over 1 million.
Western (UWO, The University of Western Ontario) is close along with Brescia, Althouse, King's College, London Science Centre, University Hospital and The Research Park.
You can shop till you drop at Masonville Mall and area along with a wide range of professional services and dining, 10 minutes or so to downtown London.
Easy access to the 401, less than 1 hour to the sandy beaches of Lake Huron and of course, Sunningdale Golf Club, Fanshawe Golf Club and others nearby.You can find a house or condo in Masonville to meet everyone's taste, from one floor condos, low rise and highrise apartment condos, condo townhouses to one floor ranches, 2 storey houses and London houses with a pool.
Other London Neigbourhoods