Sunningdale Real Estate London Ontario Facts and 2010 Predictions
What was the real estate market for houses and condos like in Sunningdale, a London Ontario Neighbourhood in 2009 and what to expect for 2010? Houses in Sunningdale
From January 01, 200 9 to December 31, 2009, 43 houses in Sunningdale exchanged hands and it took an average of 41 days for homes to sell. The majority were 2 storey houses.
The average asking price was $453,653 and those that sold, sold for 97% of asking which was $440,358.
Condos in Sunningdale
From January 01, 2009 to December 31, 2009, 21 condos in Sunningdale exchanged hands and it took an average of 58 days for condos to sell. The majority were one floor condo ranches/bungalows.
The average asking price was $267,662 and those that sold, sold for 97% of asking which was $259,848.
What Does This All Mean? For Sellers:
The Sunningdale neighbourhood is stable; prices have increased approximately 4.3 % and is a slight sellers market with less inventory for sale.
Economists are predicting real estate in London may increase 8-9% in 2010 and interest rates to increase as high as 6%. There will be some neighbourhoods in London that may see these price increases because of the amenities and 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, lanquish 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 no BS or nonsense, calling a professional REALTOR® like myself will ensure your real estate experience is a successful one.
What Does This All Mean? For Buyers:
Quality houses and condos in Sunningdale sell quickly and as you can see; for approximately 97% of asking price. I can see this percentage increasing to 98-99% in 2010 with quite a few at full asking price. Being prepared to act quickly in Sunningdale will ensure you the home that fits your criteria.
Call me today for my Exclusive Envelope Real Estate Home Buyer Kit that will help your real estate experience be successful and enlightening!