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    Lambeth & Talbot Village London Ontario Real Estate All Homes For Sale on MLS, Updated Hourly!

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    May 2021 was yet another remarkable month for home sales activity in LSTAR’s jurisdiction: the Association recorded 1,258 residential transactions via its MLS® systems – year-to-date sales are at an all-time high. At the end of May, there have been 5,175 sales, up 64.3% over the same period last year.

    The overall inventory figure, which shows how long it would take to liquidate the existing housing supply in our area at the current rate of sales activity, remained at 0.6 months – its lowest level in the last decade.

    The following table illustrates how last month’s benchmark prices compare to the average sales prices. The MLS® Home Price Index (HPI) benchmark price reflects the value of a “typical home” from a certain area as assigned by local home buyers based on various housing attributes. The average sales price is calculated by adding the sale prices for all the homes sold and dividing that total by the number of transactions. Since monthly averages may be skewed by the type of houses sold in that timeframe, the HPI benchmark price is a more accurate way to gauge price trends.

    Area May 2021 MLS® HPI Benchmark Price May 2021 Average Price
    Elgin $621,400 $646,427
    London East $506,900 $502,608
    London North $691,700 $741,983
    London South $577,100 $655,662
    Middlesex $856,800 $808,936
    St. Thomas $507,000 $547,777
    Strathroy $681,300 $636,491
    LSTAR $586,200 $636,053

    The single-family home remains on top of the local buyers’ preferences, with 937 sales in May. The table below shows the May benchmark prices for all housing types and how they stack against the values from a year ago.

    MLS® Home Price Index Benchmark Prices
    Benchmark Type May 2021 Change over May 2020
    LSTAR Composite $586,200 ↑ 42.5%
    LSTAR Single-Family $637,700 ↑ 46.2%
    LSTAR One Storey $598,100 ↑ 49.5 %
    LSTAR Two Storey $678,300 ↑ 43.7%
    LSTAR Townhouse $484,900 ↑ 32.1%
    LSTAR Apartment $248,300 ↓ 8.8 %

    Even though all the increases were seen in the HPI benchmark prices and average sales prices, homes in LSTAR’s jurisdiction appear to be relatively affordable compared to houses from some other major Ontario and Canadian centres. The following table is based on data taken from the CREA National Price Map for April 2021.

    HPI Benchmark Home Prices Across Canada - April 2021

    According to a research report[1], a total of $73,250 in ancillary expenditures is generated by the average housing transaction in Ontario over a period of three years from the date of purchase.

    The pandemic and the newly introduced mortgage stress test have made the home buying and selling processes a bit more challenging, and this is where an experienced Realtor can really make a difference!

    •      In 2021, as of June 3, homes in the Lambeth, Talbot Village neighbourhoods of London sold through MLS averaged 7 days to sell for 106.67% of the asking price.
    •     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.

    Lambeth in London, Ontario, continues to be a sellers’ market with very few resale homes for sale.

        London Ontario Real Estate Market Statistics

    •  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 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 of 21 days.

     Tell Me More About Lambeth, Talbot Village, Southwinds

    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.

    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.

    Elementary Schools

    Lambeth Public School

    St. George Catholic School

    High Schools

    Saunders Secondary School

    Regina Mundi Catholic College

    St. Thomas Aquinas Catholic Secondary School 

    Sports

    Lambeth Minor Hockey

    Lambeth Youth Soccer

    Churches

    Forest City Community Church

    New Hope Community Church

    St.George Roman Catholic Church

    Trinity Anglican Church

    Here Are All The Houses & Condos For Sale in London Ontario in Lambeth on MLS, Updated Hourly

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     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.

    sell House in Lambeth, Talbot Village

    Today’s home buyers are wiser and have access to information such as sold prices, what’s for sale, even online valuations!

    More than ever, the price is the key to selling a house in London, Ontario and the 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, a seller’s market for more than 7-10 days, buyers wonder if something is wrong with the property. Homes that are well-priced attract buyers.

    Over the years, helping hundreds of home sellers successfully sell their homes, 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.

    Sell Your House in Lambeth and save

    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!

    Here Are All The Houses & Condos For Sale in London Ontario in Lambeth on MLS, Updated Hourly

       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, 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.
    • 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.