In the same period, 91 townhouses. Townhomes and apartment condos were sold from as low as $216,000, and as high as $652,000, the average selling price was 102.82% of the asking price and taking nine days to change hands!

Oakridge London, Ontario, remains a seller’s market.

  In 2018, 232 houses sold in the Oakridge London Ontario neighbourhood through our MLS system for a median of 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 sellers 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.

 Oakridge London Ontario Neighbourhood by the City of London

Some Condo Properties in Oakridge in London Ontario

•  50,55,60,65 Fiddlers Green London Ontario
• 43 Capulet Walk

Buying A Home in The Oakridge L0ndon 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?

 Here is a start!

You, & Only You Determine When Your Home Sells in London Ontario

Over 94% of home buyers surf the internet to begin their home search. That means home buyers are well aware of which houses are available & what the asking price is.

Today’s home buyers are wiser and have access to information that was not available years ago. Industry surveys show that the average home buyer sees 10-16 homes before making a decision!

What that means in most cases is those home buyers, and their sales representatives know the market for homes similar to yours. Yes, every home may be unique and have different features, but to get market value for those features and uniqueness is another issue altogether, and that is what marketing is all about.

Knowing that pricing is the key to selling a house in London, Ontario and area, some home sellers think that a higher price will give them some negotiating room. But many buyers don’t even look at an overpriced property; much less make an offer on it. Overreaching can lead to the house listing becoming tired or in the worst-case scenario, not selling at all.

The first question a home buyer asks me when showing them a house to buy 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 at the start.

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.

In closing, when selling a home in London, Ontario and area, how thorough are your research and that of your Realtor of the real estate market? Is it true?