What was the real estate market for houses and condos like in the Pond Mills neighbourhood in London in 2009 and what to expect for 2010?
Houses in Pond Mills/Westminster Area of London
From January 01, 2009 to December 31, 2009, 136 houses in Pond Mills exchanged hands and it took an average of 40 days for houses to sell. The majority were 2 storey houses.
The average asking price was $187,696 and those that sold, did so for 98% of asking which was $183,236.
Condos in Pond Mills Neighbourhood: In the same time period, 93 condos sold with in 52 days with the average asking price of $126,316 and the actual selling price average was $122,966 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 Pond Mills neighbourhood may see these price increase on a few streets because of the amenities and the inventory of homes for sale, but I feel we may see a 2-3% rise before the summer of 2010.
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 Pond Mills & Westminster will be more in demand as more people learn about the amenities ,lifestyle and the lower price range of condos and houses.
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