So far in 2017, Oakridge real estate has been selling well with prices up , below is a breakdown:
- March - houses sold for 102% of the asking price and took 26 days to sell and condos, 102% as well and 29 days to sell.
- February - houses sold for 103% of the asking price, 19 days on the market and condos, 104% of the asking price and 14 days on the market.
- January - houses sold for 104% of the asking price, 26 days on the market and for condos, 101% of asking and 21 days on the market.
So, still a sellers market in London Ontario and especially Oakridge and for buyers, if you can keep your wits together and are prepared, you will do fine .
295 houses in Oakridge were sold in 2016 through our local MLS starting at $270,000 all the way up to $740,000 and Oakridge was no different than the rest of London Ontario, a shortage of quality homes for sale saw these 295 houses sell very close for the asking price and in some cases for more and took about 19 days to sell!
Unfortunately for 37 house owners in Oakridge and their Realtor, their houses did not sell or were put back on the market again or the price was reduced to bring the house price in line with the competition! heres the thing, the stongest real estate market in the last 10 years and a house did not sell!
Do you not think that after 15 to 20 days a home owner would sit down with their Realtor and face the brutal truth and address the price or the condition of the home and the marketing of the home? By the way, I have heard both sides of the story, the Realtor said it wasn't the price they wanted to list the house at and the home owner said their Realtor did not promote their house well enough.
Wise choices start with looking in the mirror, taking responsibility and choosing to choose the price, the marketing and the Realtor and doing whatever it takes to sell your house.
105 condos in Oakridge were sold through MLS in 2016, from as low as $122,000 and up to $669,000 which was about 99.6% of the asking price and on the market 25 days! 15 condos did not sell or were re-listed and put back on the market, some three times!
What do these numbers indicate? There are buyers willing to buy and seller's who price their homes at the market price will get 99-101% of their asking price. Pretty simple, yet, I hear of buyers who think they can get 10-15% off the asking price and a few misquided sellers who think their home is worth more than the other homes that have sold in their neighbourhood!
255 houses in Oakridge in London Ontario sold through our MLS system for an average $326,740 which was 99% of the asking price and these were on the market less tan 30 days
110 condos in Oakridge sold in the same period for an average $228.046 which was 98.1% of the asking prices and these condos took 38 days to sell on average.
More and more people are returning to their roots, buying these homes in Oakridge where they grew up, having large, deep lots and renovating them to meet their aging lifestyles. I have had many clients buy these 60's and 70’s homes and upgrade them with modern kitchens, larger bedrooms and bathrooms.
Oakridge Acres, Oakridge Meadows & Oakridge Park are neighbourhoods in north west London (with a few small patches of 10 year old or less homes) with large lots, mature trees and very few cookie cutter streets.
Some Condo Properties in Oakridge in London Ontario
Other London Neigbourhoods