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The average home price in London increased to $487,120.00 in July. This represented a 17.5% rise when compared to July 2019. The increase was fairly consistent in all major areas with North and East London showing a 15.2% and 15.0% increase respectively when compared to the same period in 2019. South London rose 16.1% when compared to July 2019. The reduction in housing inventory and the pent-up demand resulting from the COVID -19 lockdown months continues to be the major factors behind the increase in housing costs.

The Market Advantage Indicator reached it’s highest level this year, coming in at 92 during the month of July. The common understanding is that scores between 40 and 60 reflects a balanced buyer/seller market. This is very much a Seller's market.

I believe that providing valuable market information enables you to evaluate the market and make informed decisions that are right for you. If I can be of assistance in creating a buyer or seller strategy that will be effective in this market, just text or call me at (519) 777-6521. Remember the first step in creating an effective strategy is talking with your Financial Institution or Mortgage Broker about securing your mortgage pre-approval.

July Market Report

Not intended to solicit buyers or sellers currently under contract with a brokerage. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, Chris Bramwell and Sutton Preferred Reality Inc.,Brokerage does not assume any responsibility or liability.