B & B Team Newsletter February 2018

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

Woodstock & District home sales post average January

The Woodstock-Ingersoll & District Real Estate Board is saying “Residential sales activity recorded through the Ontario Collective MLS® system for the Woodstock-Ingersoll & District area numbered 76 units in January 2018. This was down 25.5% from the record January a year earlier, but stood on par with the five-year average for the month and above the longer 10-year average. “There are a couple of factors that could explain the January sales slowdown, namely the possibility that some sales were pulled forward into late 2017 to best the new OSFI stress test, and also the fact that there is currently a record low number of homes for sale in the region,” said William Cattle, President of the WoodstockIngersoll & District Real Estate Board. “In either case, it means the January numbers should be taken with a grain of salt. We’ll get a better idea of how 2018 is shaping up in the months ahead.”The average price of homes sold in January 2018 was a record $356,871, rising 9.2% from January 2017. New listings numbered 110 units in January 2018, down 11.3% from January 2017. This was the lowest level for the month in three decades. Active supply is at all-time lows.

There were just 165 active residential listings for the area at the end of January 2018, down 17.5% from levels at the end of January 2017. There were just 2.2 months of inventory at the end of January 2018, little changed from two months recorded at the end of January 2017 but still well below the longrun 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 $27.1 million in January 2018, down 18.6% from a year earlier. Sales of all property types numbered 82 units in January, down 22.6% from the same month in 2017. The total value of all properties sold was $31.4 million, down 12.4% from January 2017. The Woodstock-Ingersoll & District Real Estate Board operates the Multiple Listing Service® in the region. REALTOR® is a trademark, which identifies real estate”

What’s Included in the Evaluation?

An Estimate of Your Home’s Current Value
The 3 Most Comparable Properties that recently sold near you
A Suggested Listing Price in case you plan on selling

Did you know that professional appraisers use the Multiple Listing Service to determine what your home is worth? With this new service you can get access to the same information appraisers have.

Why pay hundreds of dollars to an appraiser when you can get it for free? Just enter your information in the form and get access to your home’s value for no charge right now.

Have Fun with the Family and join The City of Woodstock, Calvary Church Woodstock and ERB Signs as they will be hosting this year’s Easter egg Hunt at Victoria Park on Saturday March, 31st, 2018. Join us for an Epic Egg-Stravaganza!The hunt will begin at 11:30am and is a family event spent to those ages 2 – 11. Don’t forget to bring your own basket for egg collection!

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