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Statistics on the Woodstock Real Estate Market
Woodstock & District home sales and new listings decline in August
This is what the The Canadian Real Estate Association is saying:
Residential sales activity recorded through the MLS® System of the Woodstock-Ingersoll and District Real Estate Board numbered 91 units in August 2017, falling 36.8% from the record for the month set a year earlier.
Year-to-date home sales numbered a record 1,200 units over the first eight months of 2017, up 14.4% from the same period last year. This still leads all other years on record.
“Home sales and new listings fell in tandem in August, suggesting current housing market uncertainty in the Greater Golden Horseshoe region is prompting both buyers and sellers to take a pause on the sidelines at the moment to see how things play out,” said Lesley Michie, President of the Woodstock-Ingersoll & District Real Estate Board.
The average price of homes sold in August 2017 was $324,300, rising 5.3% from August 2016. The year-to-date average price was $342,699, up 21.3% compared to the same month last year.
New listings numbered 121 units in August 2017, dropping 20.9% from August 2016. This was the lowest August level in more than 15 years.
Active supply is still trending near all-time lows, although it is up from even lower levels at this time last year. There were just 270 active residential listings on the Board’s MLS® System at the end of August 2017, up 17.9% from levels at the end of August 2016.
There were just three months of inventory at the end of August 2017, up from 1.6 months at the end of August 2016 but still less than half the long-run average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The dollar value of all residential property sales amounted to $29.5 million in August 2017, falling 33.5% from a year earlier.
Sales of all property types numbered 94 units in August, down 38.2% from the same month in 2016. The total value of all properties sold was $32.5 million, down 33.7% from August 2016.
The B & B Team had a contest this month to start off Fall we did a draw on our Facebook page and
the lucky winner of this gorgeous Fall Centre piece is Jenn Kairies
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Congrats to our Sellers & Buyers
what a great month SOLD SOLD SOLD!!!
Fall Is Here!! Start enjoying this beautiful weather as it seems we have finally broken the heat!