London Ontario Condominiums, Townhouses, Apartment Sales Last 30 Days

Here is a brief report on London Ontario condominiums, including apartment condos, townhouses, and townhomes over the last 30 days.

London Ontario Condo Market

Apartment Condominiums: 67 sold through our MLS system taking on median 9 days to sell and getting 103.38% of the asking price.

Townhouses Attached: 97 changed hands, selling for 101.8% of the asking price and the days it took to sell was an average 11 days.

Detached Townhomes: 10 changed hands as reported through our MLS system, 14 days on the market was the average and selling for 99.16% of the asking price.

Summary: For those thinking of selling, the numbers above speak for themselves and for buyers, have your ducks in a row before you start looking, it will save you money and tons of emotional stress!

London Ontario Condominiums 2018 And What To Expect in 2019

One of the best ways to understand the condominium market in London Ontario is to look at how many days these were on the market before being sold and what was the sale price percentage versus the asking price.

condo sales in London Ontario

Our real estate board LSTAR ( The London St.Thomas Association of REALTORS*) breaks London down into three geographical areas, North, South and East. ( I know, why not the West?) I plead silence with my opinion on why!

Sold Condominiums in London Ontario  2018
Area % of Asking Price Average Days on Market
North 102.2% 22
South 104.92% 17
East 103.49% 24

What does all this mean? The inventory of townhomes and townhouses for sale is low, and with more buyers than sellers, we see bidding wars, hence, higher sale prices. Apartment condos remain strong as well, and where townhouses and townhomes used to dominate the market, apartments are catching up, not only in the volume of sales but in price as well.

Is this a good time to sell a condominium? Yes!

For buyers, be prepared to act as there are more buyers than sellers, but do your homework and do not let emotion override prudence and common sense.

The hottest segment right now is the one floor detached or attached bungalow townhouse with a two car garage, seconded by attached townhouses.

What will 2019 bring?

2019 prediction condominium sales London Ontario

  Building permits for new construction are higher than ever for both high-rise buildings and townhouses and townhomes. Affordability is a powerful motivator for first-time buyers and downsizers over single-family homes.

  Until I can walk on water and be exact, all condominiums in London Ontario and area will experience a rise in prices because of demand.