From January 1, 2019, to July 9, 2019, 131 houses in the Oakridge London Ontario neighbourhood sold through our MLS system, selling for an average 100.25 % of the asking price and taking a median eight days to sell. The lowest sold price was $340,100, and the highest was $825,000, with the average house price is $494,400, about $100,000 over the City of London average home price.
In the same period, 56 townhouses. townhomes and apartment condos were sold from as low as $216,000, and as high as $2,268,000, the average selling price was 103.10% of the asking price and taking nine days to change hands, overall, the average condo price in Oakridge is $367,005
In 2018, 232 houses sold in the Oakridge London Ontario neighbourhood through our MLS system for a median 103.25% of the asking price which was $475,189 and these took on average 17 days to sell. The lowest was $310,000 and the highest at $818,000.
94 townhome or townhouse condominium residences sold in 2018 at an average $402,942 which was 101.19% of the asking price and were on the market a median 16 days, the lowest price being $365,000 and the high was $456,000.
What do these numbers indicate? Buyers are willing to buy, and the 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 misguided sellers who think their home is worth more than the other homes that have sold in their neighbourhood!
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 ageing 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 ) with large lots, mature trees and very few cookie cutter streets.
Some Condo Properties in Oakridge in London Ontario