November 1, 2023 Real Estate Market Report
|Houses Sold in October, 2023 16||Apartment Condos Sold in October 2023 0||Townhouses/Townhomes Sold in October 2023 10|
|Houses Sold Year To Date 72||Apartment Condos Sold Year To Date 1||Townhouses/Townhomes Sold Year To Date 33|
|Time on Market 25 Days||Time on Market 14 days||Time on Market 32 days|
|Price Range $435,000-$1,130,000||Price Range $435,000||Price Range $437,000 – $695,000|
|% to Asking Price 98.6%6||% to Asking Price 96.69%||% to Asking Price 99.90%|
A Quick Glance At The Real Estate Market In London, Ontario From January 1, 2020, to October 31, 2023
The four charts below show that the monthly supply of homes for sale has almost tripled, indicating a buyer’s market. The median sales price and days on the market indicate that homes are realizing their value. Some may say prices are falling, but they are now valued at what they are worth! The quantity of homes sold indicates what the first three charts show: more homes for sale; hence, buyers do not have to go wild with their offers and make offers with conditions such as financing or a home inspection and, of course, when interest rates double, it eliminates the economically challenged.