Ben Sage, Moving Woodstock
Woodstock Market Report, February 2013 – Home Sales Up again in February!
Home sales up again in February
Home sales activity recorded through the MLS® System of the Woodstock-Ingersoll and District Real Estate Board continued to gain strength in February 2013.
Sales numbered 98 units in February, jumping 18 per cent from the same month last year.
On a year-to-date basis home sales totalled 168 units, also up 18 per cent from the same period in 2012.
“Resale housing demand posted a second consecutive double-digit year-over-year gain in February,” said William Cattle, President of the Woodstock-Ingersoll & District Real Estate Board. “With 98 transactions reported it was actually one of the best February sales figures ever in the region given the fact that activity has only ever topped the 100 mark in the month of February twice in history.”
The average price of homes sold in February 2013 was $224,780, up seven per cent on a year-over-year basis.
New listings numbered 141 units in February 2013, unchanged from February 2012.
There were 494 active residential listings on the Board’s MLS® System at the end of February 2013, a decline of five per cent from levels at the end of February 2012.
There were five months of inventory at the end of February 2013. This was down from 6.3 months at the end of February 2012 and stands below the long-run average for this time of the year as well. 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 $22 million in February 2013, up 27 per cent from levels recorded a year earlier.
Sales of all property types numbered 103 units in February, up 21 per cent from the same month in 2012. The total value of all properties sold was $23.6 million, up 34 per cent from February 2012.
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