The real estate market in the Westmount neighbourhood in London Ontario in 2017 has been quite vibrant like the rest of London , here are some numbers:
- March - houses sold for 103% of their asking price and condos 100%
- February - houses & condos sold for 99% of the asking price
- January - Houses sold for 99% of the asking price and condos, 101%!
So, what can you do knowing this information? There are two tactics that a buyer or a seller can use to take advantage of this market.
Knowing what those tactics are can make a huge difference in your bank account!
166 houses sold through MLS in the Westmount neighbourhood of London Ontario in 2016 for as low as $249,900 and as high as $789,900 and regardless of price, these houses took about 23 days to sell and about 99.2% of the asking price!
93 condos in Westmount changed hands as well, from $77,000 for a low rise apartment condo and up to $439,900 for a town home condo. These condos sold for 99% of their asking price and were on the real estate market for 33 days which was in line with what other condos in London did.
2016 was a record year for real estate sales in London Ontario and area and Westmount was no exception, other than home buyers are experiencing a shortage of good homes for sale.
In 2015, 160 houses sold in Westmount in south west London Ontario through MLS for an average selling price of $378,515 which was 98% of the asking price and these took about 33 days to sell.
107 condos in Westmount were sold through our MLS system for an average price $185,872 and took on average 42 days to sell.
The Westmount neighbourhood in London Ontario has a combination of newer and older houses and condos and actually 3 very distinct areas.
City of London profile of the Westmount Neighbourhood
More London Ontario Neighbourhoods