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Statistics on the Woodstock Real Estate Market

Woodstock & District home sales and new listings slow sharply in February

Here is what The Woodstock-Ingersoll Realestate board is saying. Woodstock & District home sales and new listings slow sharply in February Residential sales activity recorded through the Ontario Collective MLS® system for the Woodstock-Ingersoll & District area numbered 73 units in February 2018. This was down 51.3% from the record setting February a year earlier, but and somewhat below average for this time of year. On a year-to-date basis home sales totaled 149 units over the first two months of the year. This was a decrease of 40.9% from the same period in 2017. “While there is no doubt activity has slowed to start the year, it is important to recognize that the large year-over-year decline is less a story about sales right now and far more about how unprecedented February 2017 was,” said William Cattle, President of the Woodstock-Ingersoll & District Real Estate Board. “With so little supply on the market and so little new product coming on so far this year, it is an open question as to whether the current slowdown in sales is coming from the demand or the supply side, or both.




”The average price of homes sold in February 2018 was a record $365,571, rising 6.7% from February 2017. The year-to-date average price rose 8% from January and February 2017 to reach $362,999. New listings numbered 93 units in February 2018, down 47.5% from February 2017. This was the first time on record that February new listings numbered less than 100. Active supply is near all-time lows. There were just 173 active residential listings for the area at the end of February 2018, down 17.6% from levels at the end of February 2017. There were just 2.4 months of inventory at the end of February 2018, up from 1.4 months recorded at the end of February 2017 but 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 $26.7 million in February 2018, down 48.1% from a year earlier. Sales of all property types numbered 80 units in February, down 48.7% from the same month in 2017. The total value of all properties sold was $30.7 million, down 42% from February 2017.

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2 Anderson St. Woodstock
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OPEN HOUSE Saturday April 14, 2-4 p.m.
WOODSTOCK DAY at the Rogers Centre
The City of Woodstock will for the 14th year, be heading to Toronto for there annual day at the Rogers Centre. Lets GO BLUE JAYS!
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