February 2011
Condos Sold 116 down 0.9 % from February 2010
2011 Year-to-date
Condos Sold 197 down -7.1% from 2010 Y-T-D which had 212 condo sales
Average Sale (Monthly) Price in 2011 was $170.035 up 2.7% from 2010 which was $165,625
Average Price (YTD) in 2011 is $174,217 up 3.7% from 2010 which was $168,805.
SALES TO LISTING RATIO REPORT
February 2011 was 43% (43 of every 100 listings sold)
February 2010 was 51%
This is a sign of a market trending to that of a Buyers Market. Sharp pricing is required to be successful in this type of a market.
If you have any questions regarding this report or require more information please call The Grants
THE GRANTS
Connie GrantMinto buys huge London complex
Ottawa developer Minto Group has purchased a 13-building apartment complex in London, Ont., marking the biggest real estate deal in the Western Ontario city's history and Minto's largest ever mixed-use property purchase.
The property, called Cherryhill Village, was purchased from family-owned London development company Esam Group. It includes 2,326 residential units, the 158,000-square-foot Cherryhill Village mall and a 31,000-square-foot medical building.
The sale made Canadian history by commanding $215 million, a record-breaking price of for a single-site apartment, according to The Globe and Mail.
According to a release issued by Minto, the Ottawabased company was chosen from a list of 17 bidders. "The mix of well maintained residential and commercial properties makes this portfolio an excellent addition to our existing assets and strategically supports our initiative to expand beyond the Toronto and Ottawa markets," Minto CEO Roger Greenberg said in the release.
Cherryhill Village was one of the major properties owned by the prominent London developer Esam Group, which was founded by Sam Katz in 1957 and remains a familyowned business.
Minto announced plans to start renovations and energy retrofits for buildings on the Cherryhill property.
?? Copyright (c) The Ottawa Citizen
While The Grants do not deal in large commercial sales, this sale shows that London is a viable market place for real estate investors. That makes London a very desirable location for residential and condominium investment. Condo to Castle to Condo, Where Ever Life Moves You, Call The Grants. We believe in the London and Area real estate values. A great time to buy or sell. Call 519-667-1800 and ask for The Grants
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