Ben Sage, Moving Woodstock
Woodstock Market Report – March 2012 Edition
Home Sales Hold Steady in March
Home sales recorded through the MLS System of the Woodstock-Ingersoll & District Real Estate Board numbered 108 units in March 2012. This was steady compared to February, but did stand 12 per cent below a very strong month of March last year.
“The market was little changed in March compared to what we saw in February,” said Lori Goldhawk, President of the Woodstock-Ingersoll & District Real Estate Board. “Demand continues to run at healthy, albeit fairly average levels. Combined with a persistent downward trend in supply, we’re seeing tighter market conditions, and that’s leading some modest price growth.”
The average price of a single-family home sold in March 2012 was $219,470. This was an increase of three per cent form the same month a year earlier.
New listings numbered 210 units in March 2010, down 14 per cent from March 2011.
Active listings continue to trend downward. There were 519 active residential listings on the Board’s MLS System at the end of March 2012. This was down 20 per cent from levels at the end of March 2011.
There were 5.6 months of inventory at the end of March 2012 on a seasonally adjusted basis. This was down from 5.9 months recorded at the end of February. The decline in months of inventory is largely a result of the fall in active supple. 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 $23.7 million in March 2012, 10 per cent below from a year earlier.
Sales of all property types numbered 110 units in March, down 11 per cent from the same month in 2011. The total value of all properties sold was $24.5 million, a decline of seven percent from March 2011.
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