What was the real estate market for houses and condos like in the Hunt Club neighbourhood in west London in 2009 and what to expect for 2010?
Houses in Hunt Club Area
From January 01, 2009 to December 31, 2009, 36 houses in Hunt Club exchanged hands and it took an average of 42 days for houses to sell. The majority were 2 storey houses.
The average asking price was $407,139 and those that sold, did so for 98% of asking which was $398,031.
Condos in Hunt Club: In the same time period, 12 condos sold in 48 days with the average asking price of $255,625 and the actual selling price average was $247,842 which is 97%.
Averages are a good starting point to understand the swings in price; but you must compare apples with apples . For an in depth report, give Ty a call.
What Does This All Mean? For Sellers: 
Economists are predicting real estate in the London region may increase 8-9% in 2010 and interest rates to increase as high as 6%. The Hunt Club neighbourhood may see these price increases because of the amenities and the inventory of homes for sale.
I cannot predict the future; however; in any market, clean, quality homes that are priced well sell quickly. Those who are testing the market or not facing reality as to the real value of their home, languish on the market, take longer to sell and for far less than the correct price which the home should have been marketed for in the first place.
Why do some homes sell in 7-10 days and others 55-75 days? It is what I call the 3 P's of real estate. Price, Product and Promotion.
If you want results and straight talk, calling a professional REALTOR® like me for the real facts will ensure your real estate experience is a successful one.
What Does This All Mean?
For Buyers:
Quality houses and condos in Hunt Club will be more in demand as more people learn about the amenities and lifestyle.
Call me today for my Exclusive Envelope Real Estate Home Buyer Kit that will help your real estate experience be successful and enlightening!
Ty Lacroix Broker of Record & Owner
'NOT ALL REALTORS* ARE THE SAME', One call or email to me and you will know why!
Your London and S/W Ontario source for results!
519-435-1600 www.enveloperealestate.com
This neighbourhood has some great shopping and services for fresh fruit and vegetables, bakery and gourmet foods Remark is a chef's delight, Starbucks, Shoppers Drug Mart, Gordon Jewellers and less than 10 minutes to all the big box stores.