Chris Bramwell Market Report Jan. 2021

The median home price in London was up 37.5 % when compared to January 2020. The median home price rose the most in the North and South areas versus January 2020. The North increased by 36% and the South had a huge increase of 65.1%. The East showed the smallest increase at 16.3% when compared to the same period last year.

A bright spot in the report was the Market Advantage Indicator, which dropped significantly from the previous month to finish at 78.3. This shows a more balanced market however, my expectation is that it will rise again in the coming months as more home sellers and buyers enter the market. The Days on Market and Months of Inventory information continue to show how fast-paced the market is and the limited selection of homes available for buyers.

If you are going to be selling and/or buying real estate in the next 4 months it is important to start your planning process now. I would recommend that we get together for a short teleconference to discuss the following topics:

  • Review the general market environment and how it may affect you
  • Discuss the critical next steps in the selling and/or buying process
  • Review the importance of obtaining Mortgage pre-approval

Preparation is essential to successfully navigating through the London real estate market. Working together, we can realize your dream of moving into a new home. Please call or text me at (519) 777-6521.

Chris Bramwell Market Report January 2021