Mention the word Oakridge to residents of London  and you'll hear great words about these family neighbourhoods of Oakridge Park, Oakridge Acres and Oakridge Meadows. Quick access to all that London has to offer yet private enough with large lots, greenery and privacy to enjoy your home, family and friends. Oakridge is bordered by Springbank Drive to the south, has Hyde Park Road, Sanitorium Road and Oxford Street West running through it and is west of Wonderland Road. Great shopping, schools, parks and service providers in this safe comfortable neighbourhood of London. Easy access to UWO (Western), it's hospital, research park and sports venues like the JLC, Grand Theatre, events in the park and more. For more detail information and a list of homes for sale go to Homes in Oakridge .As well, a list of valuable contacts, maps, city services and much more. There were 7 houses that sold in the Oakridge area of London in January at an average price of $307,543 which was 101% of the asking price of $305,329 and on average these homes were on the market 52 days! There were 4 condos in Oakridge that sold at an average price of $178,453 which was 97% of the $184,200 asking price and on average those condos were on the market for 68 days. At the present time there are 10 resale houses for sale in Oakridge and 7 condos available. As you can see by the January numbers, fence sitting may not be in your best interest. Contact me if you would like a break down of style or a particular street in London. Making your decision based on facts  can save you a lot of money in real estate rather than if your decision was based on opinions! To discuss a change in your lifestyle I can be reached at 519-435-1600 or drop me an email at ty@enveloperealestate.com
 What was the real estate market for houses and condos like in Oakridge a neighbourhood in south west London in 2009 and what to expect for 2010? Houses in Oakridge From January 01, 2009 to December 31, 2009, 265 houses in Oakridge exchanged hands and it took an average of 42 days for houses to sell. The majority were 2 storey houses. The average asking price was $288,895 and those that sold, did so for 98% of asking which was $282,219. Condos in Oakridge: In the same time period, 97 condos sold in 44 days with the average asking price of $206,616 and the actual selling price average was $203,077 which is 98%. Averages are a good starting point to understand the swings in price; but you must compare apples with apples and not oranges. For an in depth report, give Ty a call. What Does This All Mean? For Sellers:  Oakridge in London is quite stable with sought after schools, a safe envirnoment and pleasing streetscapes. Economists are predicting real estate in the London region may increase 8-9% in 2010 and interest rates to increase as high as 6%. Byron will be a neighbourhood that may see these price increases because of the amenities and the inventory of homes for sale. I cannot predict the future; however; in any market, clean, quality homes that are priced well sell quickly. Those who are testing the market or not facing reality as to the real value of their home, languish on the market, take longer to sell and for far less than the correct price which the home should have been marketed for in the first place. Why do some homes sell in 7-10 days and others 55-75 days? It is what I call the 3 P's of real estate. Price, Product and Promotion. If you want results and straight talk, calling a professional REALTOR® like me for the real facts will ensure your real estate experience is a successful one. What Does This All Mean? For Buyers: Quality houses and condos in Oakridge will be more in demand as more people learn about the amenities and lifestyle. Call me today for my Exclusive Envelope Real Estate Home Buyer Kit that will help your real estate experience be successful and enlightening! |