Archive for December, 2016

Are Condo Prices Up in 2016?

Sunday, December 25th, 2016

The good news for London condo owners is that condo prices are up in London in 2016.The not so good news is that many of the other cities in mid western Ontario have experienced real estate price surges far greater than ours.

Let’s talk about the sleepy little town of Brantford on highway 403 about 90 km’s to the east of us. About 100,000 people call it home. In 2015 real estate prices in their city jumped about 20% right across the board. People are moving to Brantford from the Hamilton area. Price increases like this did not happen in London.
The year 2016 saw further Brantford condo price gains. Please look at the four following situations and keep in mind that the prices we have calculated are increases on top of  the earlier years twenty percent price increase gain.

1) 56-96, 63-93 English Lane. The average MLS sale price jumped from $247,000 in 2015 to $316,700 in 2016.p12801872) 54, 56-70 Garden Ave. The average MLS sale price jumped from $231,700 in 2015 to $287,500 in 2016.43) 78-112, 79-115 Biset Ave. The average MLS sale price jumped from $261,000 in 2015 to $300,000 in 2016.dsc_01264) 476-494 Grey Street. The average MLS sale price jumped from $112,700 in 2015 to $137,200 in 2016.1Cambridge, Paris and Hamilton condo prices have also mimicked similar patters in condo price increases. London condo price increases in 2016 by comparison have being far less dramatic. The silver lining to all of this is that London’s condo pricing in 2017 might get lifted further upwards in price as our low pricing realities become more clear to a larger and increasingly more price savvy audience. That’s the way I see it anyways.

by Peter Daoust Broker. Remax Advantage Realty Ltd., Brokerage

Byron Condos

Friday, December 16th, 2016

There are times in our quest to talk about everything “brand new” we forget the aspect that London has a some great resale condos.  Attached are two sets of condo pictures, the first being pictures of a complex called “Merian Place”, a wonderfully maturing treed complex at 1465 Commissioners Rd. West. The second set of pictures is of a complex next to it called “Stonegate” at 1443 Commissioners Rd. West. These two settings rival the settings of almost any new condo project coming on stream. There were no “MLS” sales in either of these two complexes in 2016 and three “MLS” sales in 2015.  When the next new listing does hit the market expect a strong uptick pricing. Watch for an update of our entiredsc_0002dsc_0003dsc_0064dsc_0007dsc_0068“Byron” section over the holiday period.

by Peter Daoust, Broker. Remax Advantage Realty Ltd., Brokerage