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Ben Sage, Moving Woodstock

Woodstock Market Report – August 2012 Edition

Posted on September 15, 2012 by Ben Sage in Woodstock Ontario Real Estate Stats

RESALE HOUSING DEMAND EDGES HIGHER IN AUGUST

Woodstock, Ont. – Home sales recorded through the MLS® System of
the Woodstock-Ingersoll and District Real Estate Board improved for a
third consecutive month in August 2012, although activity remains
slightly below levels reported one year ago.

Home sales numbered 101 units in August 2012. This was down just four
per cent from August 2012. On a seasonally adjusted basis, however, activity was up
two per cent from July to August. This builds on the three per cent gain in July and the
nine per cent gain in June.

“Continuing the trend we’ve been seeing in recent months, demand improved a little
further in August compared to July,” said Lori Goldhawk, President of the Woodstock-
Ingersoll & District Real Estate Board. “That’s the opposite of what’s been happening
in many other parts of the country, where sales are falling in the wake of the new
mortgage rules that came into effect in early July.”

The average price of homes sold in August 2012 was $221,710, edging down half of one
per cent from the same month a year earlier.

The dollar value of all residential property sales amounted to $22.4 million in August
2012, down four per cent from levels recorded a year earlier.

New listings numbered 173 units in August 2012, down eight per cent from August
2012. There were 595 active residential listings on the Board’s MLS® System at the end
of August 2012. This was down 14 per cent from levels at the end of August 2011.

There were 5.9 months of inventory at the end of August 2012, down from 6.5 months
at the end of August 2011. 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.

Sales of all property types numbered 106 units in August, down four per cent from the
same month in 2011. The total value of all properties sold was $25.9 million, a decrease
of eight per cent from August 2011.

The Woodstock-Ingersoll & District Real Estate Board operates the Multiple Listing
Service® in the region. REALTOR® is a trademark, which identifies real estate
professionals who are members of the Canadian Real Estate Association and, as such,
subscribe to a high standard of professional service and to a strict Code of Ethics.

If you wish to view the listings currently on the Woodstock-Ingersoll & District Real
Estate Board, as well as information pertinent to Sellers and Buyers please go to
www.widreb.ca

A copy of the August 2012 housing activity is attached.


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