Analysts are warning real estate in the London, Ont., region is poised to become an 'extreme sellers' market' in 2021, driven by an influx of out-of-town buyers seeking more space in the coronavirus pandemic and a dwindling supply of homes for sale. Add to that an influx of out-of-town buyers seeking more space and value for their money and it's created a real estate market in the London, Ont., area that's in no mood for low-ball offers. 'Extreme sellers' market conditions'The year 2020 saw some unusual trends in London, Ont., real estate such as the sudden popularity of pools that, until the pandemic, did not traditionally add value to a home. (Colin Butler/CBC News)"In London, the sales have grown and the listings have not," he said. Back in November, the Canadian Real Estate Association has predicted that the average home in Canada will likely hit an average price of $620,000 in the New Year.

Source: CBC News December 25, 2020 09:56 UTC