Lambeth London Ontario Real Estate Market
In 2023, as of June 30, year -to date, seventy-three houses and five townhome condos sold. In June, ten houses and two townhomes were sold, and on July 1, there were 82 active homes for sale on MLS, making the absorption rate 14%, which indicates a buyer’s market in Lambeth London, anything over 20% is a seller’s market, and under 15% is a buyer’s market. See real estate calculations.
If you are curious about the previous year’s stats and how prices have risen, you see the facts at the bottom of this page.
Lambeth is a neighbourhood in the southwest of London, about 10 minutes to downtown on a good day, a bad day, 12! The 401 and 402 highways are 3 minutes away, and six golf courses are within a 20 KM drive! There is a shopping plaza at Colonel Talbot Road and Southdale Road West with groceries, a pharmacy, dining and fast food, banking etc.
Schools and churches are bountiful, along with professional services. Lambeth has homes from entry-level to executive properties and condos. Drive through Talbot Village for new houses and condos or off of Pack Road, Southwinds Village for some sprawling dwellings, or the Outer Drive area going south on Colonel Talbot Road or the heart of Lambeth, some quaint shops and a multitude of services.
Putting Your Home in Lambeth London Up For Sale on MLS & Selling It Are Two Different Actions!
Below are some helpful tips, money-saving ideas and home seller strategies to help you sell your home in the Lambeth area quicker, for more money and less stress! These strategies and tips are from my experience selling hundreds of homes in London, Ontario, and the area.
If you don’t read any further, remember these 14-words: get as many qualified buyers to see your home for sale! How to Get More Buyers to See Your Home
In today’s market, buyers are increasingly savvy. This means the competition is stiff! That means that your home will sell at the highest profit and in the quickest amount of time when all the ingredients are combined correctly. If only one element is left out of the formula or is out of proportion to the others.
Every apartment or townhouse owner I have ever met wants their condo to sell for as much as possible. That’s understandable, and it’s not luck that makes that happen; it’s applying proven strategies, marketing and experience that will encourage condo buyers in London to reach for their chequebooks!
Here are 50 inexpensive things you can do to enhance the value of your house or condo. Time and time again, when I show homes or list them, some or all of these tips would have dramatically sped up the sale or received more money. Over the years, I have found that the little things a buyer sees may be the stumbling block in making an offer on your home. You have one chance of making an excellent first impression when a buyer walks into your home; try one or ten of these, and you will sell quicker and, in most cases, receive more money!
Here’s an informative guide to help you realize the most profit from your home and perhaps avoid costly repair rip-offs. Each year thousands of homeowners needlessly lose thousands of dollars when selling their homes. But they don’t lose the money for reasons you might think. They lose money because they unknowingly left it on the table, for the buyer to pocket, by failing to recognize their home’s hidden profit potential.
Those hidden profits exist in two areas. First, most homeowners never discover that particular minor, even inexpensive repairs to their existing home could generate many times their cost in additional home value. But on the other hand, other repairs and improvements can cost you dearly. It’s critical to know what repairs and improvements to spend money on and which ones to leave alone.https://www.youtube.com/embed/U7brJ0HWUyg?feature=oembed
How Much Is Your Home Worth in The Lambeth London Neighbourhood?
What your house or condo is worth may differ from what a buyer perceives it is worth! For example, a two-story, four-bedroom house with a large backyard is of little interest to someone downsizing or a single person, or, for that matter, a one-floor bungalow townhome has little value at this time for a young family with pre-schoolers or a one-or two bedroom apartment condo.
A home’s value is what a qualified buyer is willing to pay and a willing seller is willing to sell for. Very simple, it then comes down to perceptions, beliefs, biases, prejudices or emotional choices or fear of loss! Or, in some cases, stubbornness!
When we meet with a home seller, not only do we consider all the above, we back numbers with facts and not opinions or prejudices, we may not tell you what you want to hear, but you will hear the brutal truth! We sell homes; we don’t just list homes and hope they sell; hope is not a strategy. For a personal in-home valuation with no strings attached or obligations, give me, Ty Lacroix, a call at 519-435-1600 or by email.
PS: We do not use AI or some pie-in-the-sky internet-based robot that trolls the internet and then comes up with a price! Not only do we do our deep dive research, but we also have five reliable sources of factual reports.
Thinking About Buying a House Or a Condo in Lambeth, Talbot Village, Southwinds or Pack Road Area in London Ontario?
How Often Do You Hear Yourself Saying: “No, I Haven’t Read It: I’ve Been Meaning To!”
Most home buyers only think about price, style and location. But there’s more than that! For most, buying a home in the Oakridge area in London Ontario & area can be an emotional toss and turn and topsy turvy bejeebies excitement and fear, all at the same time!
Over the years, through experience working with hundreds of buyers and sellers in London, Ontario we have been able to help clients overcome the conflicting misinformation about real estate and apply sound common sense so that our clients are assured they are making great decisions and avoiding emotional overzealousness to buy!
If you spend hundreds of thousands of dollars on a home in London and the area, and whether you are a first-time buyer or buying your 5th, a few minutes of informed insights will be well worth your time and thousands of dollars in prevention and a few less tense days & nights!
Six Real Estate Guides To Sleep Better!
What price do you offer a seller? Is the seller’s asking price too high? Is it ideal? Without research on the market and comparable homes, you are bidding blind. A professional Realtor who represents you should offer an unbiased opinion on a home’s value based on market conditions and the house and neighbourhood conditions. I said it should, but how would you know if it is unbiased, what comparables are used, and in what time frames? Without this knowledge, you could quickly bid too much or miss out on a great buying opportunity. Why? There are ten other great tips in this report.
Buying a condo, be it an apartment, a townhouse, or a townhome, takes much more care than purchasing a house. Due diligence is required to understand the condominium corporation’s bylaws, financial status, rules and regulations, and by-laws! These notes will give you several helpful, straightforward tips for buying a condo in London, plus answers to a condo corporation and valuable links.
Many other professionals or non-professionals are involved in your real estate transaction. An excellent, thorough Realtor will ensure you are working with qualified professionals.
The purchaser’s lawyer’s purpose is to protect you, the purchaser, throughout the transaction and ensure that you obtain a good title to your new property. The purchaser’s lawyer also represents your mortgage lender’s interests in preparing and registering the mortgage documents—tips on what to ask a lawyer.
There are several reasons for having a home inspection, but the most compelling reason is that the inspector looks at the property differently than a purchaser.Their role is to look for significant problems visible to help you reduce your risk. A good home inspector will also educate you on operating your home’s systems and a great Home Inspector will explain how to solve the problems found that day, giving you enough information to make the right buying decision with everything you have learned. Read more on how to choose a home inspector & what to be careful of.
What do all these real estate words mean? Learn a few; never will a lawyer, Realtor, economist, mortgage lender, politician or hairdresser ever confuse you again! If they do, say good bye, Au Revoir, adios, Auf Wiedersehen, Yasou, Arrivederci, Żegnaj, Do svidaniya, Do pobachennia, Tạm biệt, Ma’a as-salaama!
- Prior Years Numbers For Lambeth.
- In 2022, 148 houses in the Lambeth London area sold, with the average days to sell through MLS being eighteen, twice as long as in the Spring of 2022, and these 148 houses sold for an average of 103.87% of the asking price. The sold prices for these houses ranged from $545,000 to $2,320,000. Five townhouse condos in Lambeth sold, averaging thirty days on the market to sell for an average of 107.37% of the asking price, with the sold prices ranging from $585,000 to $870,000!
- In 2021, 235 houses in the Lambeth Talbot Village neighbourhoods of London sold through MLS, averaging 15 days to sell for a median of 107.82 % of the asking price, the lowest being $450,168 and the highest $2,250,000. Six townhouses or townhomes in Lambeth sold, averaging eight days on the market and selling for 110.79% of the asking price! The lowest being $556,000 and the highest at $800,000.
- In 2020, 223 houses in the Lambeth & Talbot Village neighbourhood in southwest London sold on MLS, averaging 23 days on the market, from a low of $346,000 and up to $2,700,000 and selling for 99.36% of the asking price! In the same period, five condos in Lambeth changed hands; the median days on the market were 3, selling for 102.91%of the asking price and from a low of $400,000 to a high of $535,000.
- In 2019, 170 houses were sold through MLS in the Lambeth neighbourhood, from as low as $299,900 and $1 850,000. Thirty-seven days was the average time on the market to sell for 99.94% of the asking price! Twelve condos sold from $395,000 to $910,000 for an average of 100.01% of the asking price and were on the market for 21 days.
- In 2018, 149 houses were sold in the Talbot Village, Southwinds & Lambeth neighbourhood of London for a median price of $591,504, which was 99.08% of the asking price and took 21 days on average to change hands. Twelve condominium townhouses and townhomes in Lambeth sold in 2018 for an average of $479,900, 99.22% of the asking prices and sold within 16 days.
- In 2017, Lambeth London, Ontario, houses & condos, including Talbot Village and Southwinds, set a record with 232 homes selling for close to the asking price and taking about 20 days to sell on average; for condos in Lambeth, eight sold, a median time to sell was 25 days and these sold for 98.62% of the asking price.
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