B & B Team July Newsletter

B & B Team sharing news on the Woodstock Real Estate Market, upcoming events, home ideas, contests and more!

Statistics on the Woodstock Real Estate Market

Residential sales activity recorded through the MLS® System of the Woodstock-Ingersoll and District Real Estate Board numbered 155 units in June 2017, edging down 1.9% from a year earlier.

Year-to-date home sales numbered a record 980 units over the first half of 2017, up 26.6% from the same period last year. This remains well above all other years on record.

“June sales were still historically strong for the month, however there was a noticeable slowdown from the blistering pace of demand in the first half of 2017,” said Lesley Michie, President of the Woodstock-Ingersoll & District Real Estate Board. “Recent changes to Ontario housing policy sent a number of buyers to the sidelines in and around Toronto in May, so it could be that trend is now stretching further out into the Greater Golden Horseshoe.”

The average price of homes sold in June 2017 was $350,368, rising 27.1% from June 2016. The year-to-date average price was $345,607, up 25.8% compared to the same month last year

There were 1.8 months of inventory at the end of June 2017, unchanged from the end of June 2016 and well below 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 $54.3 million in June 2017, rising 24.6% from a year earlier. This was a record for the month of June.

Sales of all property types numbered 162 units in June, edging down 0.6% from the same month in 2016. The total value of all properties sold was $59.2 million, up 31.9% from June 2016 to a new record.