B & B Team November 2017

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 continue to rebound in October

This is what “The Canadian Real Estate Association, in co-operation with the Woodstock-Ingersoll & District Real Estate Board ” is saying
Residential sales activity recorded through the MLS® System of the Woodstock-Ingersoll and District Real Estate Board numbered 133 units in October 2017. While this was down 7.6% from a year earlier, it was still the second best month of October on record. The single digit decline compared to last year’s record level marks a significant rebound from just a couple of months ago.

Year-to-date home sales numbered a record 1,544 units over the first ten months of 2017, up 11.3% from the same period last year. This leads all years on record.

“Home sales have rebounded very strongly over the past two months following a brief slowdown,” said Lesley Michie, President of the Woodstock-Ingersoll & District Real Estate Board. “If you look at the numbers adjusted to account for normal seasonal patterns, sales in October were almost 60% from a quiet month of August.”

The average price of homes sold in October 2017 was $334,135, rising 6.5% from October 2016. The year-to-date average price was $339,198, up 19% compared to the first ten months of 2016.

New listings numbered 121 units in October 2017, down 21.9% from October 2016. This was the lowest number of new listings on record for the month of October.

The average price of homes sold in October 2017 was $334,135, rising 6.5% from October 2016. The year-to-date average price was $339,198, up 19% compared to the first ten months of 2016.

New listings numbered 121 units in October 2017, down 21.9% from October 2016. This was the lowest number of new listings on record for the month of October.

Active supply is still trending near all-time lows. There were just 236 active residential listings on the Board’s MLS® System at the end of October 2017, down 10.9% from levels at the end of October 2016 and below the same time in all other years on record as well.

There were just 1.8 months of inventory at the end of October 2017, unchanged from the end of October 2016. This was a record-low for this time of the 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 $44.4 million in October 2017, down just 1.6% from a year earlier.

Sales of all property types numbered 136 units in October, down 10.5% from the same month in 2016. The total value of all properties sold was $44.9 million, down 11.5% from October 2016.

The B & B Team is excited to donate to the United Way Oxford Online Auction this year. We have donated a Home Décor Gift Basket.

The auction will run December 4-8, 2017 and has an incredible reach throughout our community. Last year they were able to raise $9,600, please click on the link below for more information on how you can help .
The auction link is:
https://www.32auctions.com/uw2017onlineauction

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