Ben Sage, Moving Woodstock
Woodstock Market Report – November 2012 Edition
HOME SALES DOWN IN NOVEMBER
Woodstock, Ont. – Home sales recorded through the MLS® of the Woodstock-Ingersoll and District Real Estate Board numbered 68 units in November 2012, down 21 per cent from November 2011.
“Resale housing demand edged down a bit in November compared to October, with most of that big year-over-year decline reflecting a surge in activity last November that was not expected to be repeated this year,” said Lori Goldhawk, President of the Woodstock-Ingersoll & District Real Estate Board. “At the same time, the average selling price in the region accelerated from year-ago levels in November. What’s important to note here is that part of the gain is compositional in that the surge of demand we saw at this time last year was largely for more affordable properties.”
The average price of homes sold in November 2012 was $231,260, up six per cent from $219,100 last November.
New listings numbered 113 units in November 2012, up eight per cent from November 2011. This is again attributed to a base effect, as new listings dropped sharply last November before rebounding in December. The overall trend in new supply is still trending lower.
There were 512 active residential listings on the Board’s MLS® System at the end of November 2012. This was a decline of six per cent from levels at the end of November 2011. Overall supply levels have generally been trending downward since mid-2009.
There were 7.5 months of inventory at the end of November 2012. This is up from 6.3 months at the end of November 2011, but remains below the long-run average for this time of year. The number of months inventory is the number of months it would take to sell current inventories at the current rate of sale activity.
The dollar value of all residential property sales amounted to $15.7 million in November 2012, down 17 per cent from levels recorded a year earlier.
Sales of all property types numbered 72 units in November, down 23 per cent from the same month in 2011. The total value of all properties sold was $18.3 million, a decrease of 16 per cent from November 2011.
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
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