The London median home price continued its slide in October. The median price moved lower by $8,250.00 from its level in September. The London Market Price Comparison showed that the median price was 1.5% above the October 2022 level. This result was due to the increase in Median price in the South area. The Market Area Comparison showed continued growth in the Median price within the South market area (+12.1%) when compared to the period last year. The East and North did not perform as well, showing a decline in the East of -0.5% and no change in the North.
The Market Advantage Indicator moved slightly but, remains strongly on the Buyers side at 38.3 for October. The number of properties coming onto the market remains strong and the number of sales remained consistent with September results. As a result, the Months of Inventory levels remained stable at 3.9 months for October and the Listed Properties Days on the Market declined slightly to 18 days.
Creating a successful seller/buyer’s strategy starts with obtaining your mortgage pre-approval. Once you are confident in the mortgage amount that you can financially support then we will focus our efforts on selling your existing home and/or looking for the home that meets your needs. Text or call me at 519-777-6521 and we can start the process rolling.
