For the first six months of 2020, 90 houses in Old South London through our London Ontario MLS, taking about 7 days to sell and for an average 101.82% of the asking price. The median price of a house in Old South London was $463,000, the lowest being $245,000 and a high of $1,500,000.
Do not interpret 90 houses sold as being slow, there would have been more if houses were for sale! Wortley Village and area remains a seller’s market, few sellers, more buyers!
In 2019, 229 houses changed hands in the Wortley Village, Old South London neighbourhood, from $230,000 up to $1,120,000, taking sixteen days to sell on MLS at a median 103.13% of the asking price.
Eight condominiums changed hands in the same period through MLS, a low of $152,100 and a high of $499,000, averaging eight days on the market and selling for 101.22% of the asking price.
Wortley Village Old South London Ontario real estate sales in 2018 were robust with 196 single-family houses being sold for an average price of $404,718 which was 102.28% of the asking price and the median time on the market was 20 days!
13 Wortley Village condominiums sold in 2018, averaging $309,902 selling price, which was 97.46% of the asking price, condos in Old South London took about 35 days to sell.
As you can see, houses in Old South Wortley Village sell in a short period & most cases, above the asking price! However, some houses took much longer to sell, the cause being condition, layout and, of course, the price!
When buying a house in Old South, make sure your ducks are in a row, sometimes older homes can deplete your bank account or line of credit. Some houses, like people, are attractive from the outside, but when you get to know more, leave you feeling depleted as well.
The character and charm of this great London neighbourhood are what attract home buyers, and the people who do live in Old South love the ability to walk and shop in the Wortley Village core, with tree-lined streets and very few cookie-cutter homes.
Wortley Village in Old South London
Wortley Village is the heart of Old South London. The unique village ambience associated with Wortley Road is the result of a century of change and adaptation. An attractive commercial setting has developed into a unique shopping & dining area.
Nearby is Thames Park, which provides recreational activities, including four tennis courts, playground equipment, outdoor pool, picnic areas, and access to London’s riverside bike and walking trails.
With some buildings over 100 years old, over 80 small businesses and establishments and with an abundance of inviting parks, Old South is the only region in London that offers an enticing blend of history, shopping and nature in a few square kilometres.
The homes in Wortley Village and Old South offer uniqueness, style and a neighbourhood belonging with quite a few events held yearly. The new YMCA has proven to be quite popular and another drawing card for Old South London
The Old South Wortley Village Business Association does an excellent job of hosting and presenting community events.