Lambeth Talbot Village London Ontario Real Estate London Ontario Neighbourhoods
Lambeth is a neighbourhood in the southwest of London about 10 minutes to downtown.
The 401 and 402 highways are 3 minutes away, and within a 20 KM drive are six golf courses! There is a newer shopping plaza at the corner of Colonel Talbot Road and Southdale Road West with groceries, a pharmacy, dining and fast food, banking etc. As well as a newer neighbourhood called Talbot Village.
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, 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.
Houses and townhouses in the Lambeth & Talbot Village neighbourhood in southwest London continue to sell quickly for the first 2 months of 2020, with 21 houses sold, taking less than 10 days to sell with prices ranging from $415,550 to $1,100,000. In the same period, two townhouse condos in Lambeth changed hands, one 1 floor bungalow and a 3 level townhouse.
Lambeth in London Ontario continues to be a sellers’ market with very few resale homes for sale. With spring around the corner, is there a perfect storm coming? This blog covers 4 reasons why a correction is coming!
In 2019, 170 detached houses were sold through MLS in the Lambeth neighbourhood from as low as $299,900 and to $1, 850,000. 37 days was the average time on the market to sell for 99.94% of the asking price! Twelve townhouses were sold from $395,000 up to $910,000 for an average of 100.01% of the asking price and on the market a median 21 days.
Buying A Home in The Lambeth London Ontario Neighbourhood
With the average house prices in London, Ontario, setting a record, what would happen if you had a strategy before you even started the process of looking at houses or townhomes?
When I say strategy, I am not talking about price or style or how many bedrooms. You already have a good idea of what you can afford and what you want.
Emotion sometimes can cloud our reasoning, which in turn might cause us to overpay for a home or rush the selection process.
If the questions determine the quality of our life, we ask ourselves, what about if you knew what questions to ask when buying a home and if the answers you receive are accurate?
Selling A Home in Southwinds, or Talbot Village in Lambeth London Ontario
If The Price Is Not Compelling, The House Is Not Selling!
94.8% of home buyers surf the web to begin their home search. That means home buyers are well aware of what houses are available & selling for.
Today’s home buyers are wiser and have access to information such as sold prices, what’s for sale, even online valuations!
Now more than ever, the price is the key to selling a house in London, Ontario and area. Some home sellers think that a higher rate will give them some negotiating room. But in fact, most buyers don’t even look at an overpriced property, much less make an offer on it. Too high of a price can lead to the house listing becoming tired.
The first question a home buyer asks when showing them a house is, “How long has this house been on the market?”
If it has been on the market for more than 20-25 days, buyers wonder if there is something wrong with the property. After a while, the home seller then has to drop the price, taking less than they might have if they had priced it correctly the first time!
Homes that are well-priced attract the buyers in their price range.
If the buyer’s perception is that the property is a good buy, then the seller is positioned to receive the listing price or close to it.
Again, If The Price Is Not Compelling, The House Is Not Selling!
Over the years helping hundreds of home sellers successfully sell their home, we designed a series of checklists, a set on pricing, a series on the process and what to expect, from start to finish, the good and the bad. Our clients love it, and I thought that you might as well.
You see, we also work with hundreds of buyers as well, and if you saw or knew what we look at, some sellers do or not do is disturbing. The unfortunate thing is, those sellers do not realize they are not maximizing their sold price, their marketing and exposure of their home.
There are little subtle things that start to add up and, if not checked in time, can mean the difference between your asking price & actual sale price and how much longer it will take your home to sell, not sell or unnecessary problems that can occur!
2018 & 2017 Numbers
In 2018, 149 houses 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 these took 21 days on average to change hands.
Twelve condominium townhouses and townhomes in Lambeth sold in 2018 for an average of $479,900, which was 99.22% of the asking prices and sold within an average of 16 days.
Lambeth London Ontario houses & condos, including Talbot Village and Southwinds, set a record in 2017 with 232 homes selling for close to the asking price and taking about 20 days to sell on average, for condos in Lambeth, 8 sold, a median time to sell was 25 days and these sold for 98.62% of the asking price.
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