London Real Estate Statistics

London Real Estate Price Trend
London real estate average sold price in the last 30 days (December 26 - January 24) was $248,000, which is $501,357 (202.2 %) lower than the average price of $749,357 in the previous 30 day period (November 26 - December 25), and $325,238 (131.1 %) down from the same period 1 year ago ($573,238). London real estate prices over the last 30 days are also $424,445 (171.1 %) lower than the average selling price of $672,445 over the past year.
Average London condo sold price over the last 30 days (December 26 - January 24) was $248,000. During this period it was $0 (0.0 %) down from the average price of condo of $248,000 during the previous 30 days (November 26 - December 25), and $83,000 (33.5 %) lower compared to the same period 1 year ago ($331,000). In the last 30 days London the average condo price was $111,327 (44.9 %) lower than the average selling price of $359,327 over the last year.
Sold Price Above/Below Asking ($)
Average selling price for London real estate was $248,000 in the last 30 days (December 26 - January 24), which is collectively $2,000 (0.3 %) lower than the average asking price of $742,489. This represents a decline of $40,828 (105.2 %) compared to $38,828 (5.8 %) Sold-Over-Asking price from the previous 30 day period (November 26 - December 25).
The maximum Sold Over/Under Asking ratio in London during the last 12 months was recorded in March, 2021 with an average of $66,248 over the asking price, while the minimum occurring in November, 2021 with $9,244 above the asking price.
Sales to New Listings Ratio
Sales to New Listings Ratio (SNLR) represents the number of sales in relation to new inventory listed over a period of time. SNLR for all property types in London was 2.7 % with 1 properties sold and 46 new properties listed in the past 30 days (December 26 - January 24). This represents a decrease from 15.2 % recorded during the previous 30 day period (November 26 - December 25), and a decrease from 110.3 % compared to the same period one year ago.
Over the the last year the highest SNLR in London was 141.5 % recorded in July and the lowest was in December at 14.3 %. SNLR of under 40% generally represents the Buyers' Market, while 60% and above - the Sellers' Market, with 40% to 60% range signaling a balanced market.
Average Days on Market when Sold vs Delisted
The Average Days on the Market (DOM) for 1 properties that were successfully sold in London in the last 30 days (December 26 - January 24) was 70 days, which is 15 days less than 85 days average in the previous 30 day period (November 26 - December 25) and 39 days longer than during the same period a year ago (31 days).
There were 3 delisted properties in London, those that got either Expired, Suspended or Terminated over the last 30 days (December 26 - January 24) with an average of 257 days on the market. This is 170 days longer than the average of 87 days during the previous 30 day period (November 26 - December 25) and 188 days more compared to the same period last year average of 69 days on the market.
3 London properties that didn't sell stayed on the market 267.1 % longer than 1 that sucessfully sold over the last 30 days - 70 days when sold vs 257 days when delisted respectively.
Average Days on the Market in London over the past 12 months for properties that have sold was 25.3 days, with 50.0 days for those properties that did not sell.
New Real Estate Listings vs Sold/Delisted
37 new properties were listed on the market in London in the last 30 days (December 26 - January 24). During the same time 1 properties were sold and 3 listings were removed from the market (Expired, Suspended or Terminated), which represents an increase in total inventory by 33 properties (or 89.2 %).
During the previous 30 day period (November 26 - December 25) there were 46 new properties listed, 7 sold and 3 properties that did not sell and were removed from the market.
Over the past year the busiest month for new listings was March with 108 new properties listed, the slowest - January with 36 new listings and a yearly average of 71 new listings per month.
New Real Estate Listings by Property Type
There were a total of 26 homes listed during the last 30 days (December 26 - January 24), which is 70.3 % of all properties listed in London. This is a 7.1 % decline compared with a previous 30 day period (November 26 - December 25) and 36.8 % up from the same period a year ago. Over the past year an average of 50 homes are were listed per month.
7 condo units were listed in the last 30 days (December 26 - January 24) in London, which represents 18.9 % of all new listings. This is up 16.7 % from the prior 30 day period (November 26 - December 25) and 16.7 % more compared to the same period last year. There were 7 condos listed per month on average during the last 12 months.
4 townhomes were listed over the last 30 days (December 26 - January 24) in London, which is 10.8 % of all new real estate inventory. This is a 66.7 % less than during the previous 30 day period (November 26 - December 25) and 0.0 % decrease compared to the same period a year ago. During the last year the average number of townhomes listed stood at 15 a month.
Real Estate Sales by Property Type
1 condo units were sold in the last 30 days (December 26 - January 24) in London, which represents 100.0 % of all sold properties. This is down 0.0 % from the prior 30 day period (November 26 - December 25) and 66.7 % less compared to the same period last year. There were 5 condos sold per month on average during the last 12 months.
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