Ben Sage, Moving Woodstock
Woodstock Market Report – March 2013 – Home Sales Down in March
Home sales down in March
Home sales activity recorded through the MLS® System of the Woodstock-Ingersoll and District Real Estate Board retreated in March following February’s stronger than expected performance, and also came in below levels last March.
Sales numbered 92 units in March, down 15 per cent from the same month last year.
“Home sales activity slowed in March from a surprisingly strong month of February, but remained above the kinds of levels we were seeing in most months last year,” said William Cattle, President of the Woodstock-Ingersoll & District Real Estate Board. “As far as year-over-year comparisons go, they’re always a bit tricky at this time of the year because you have to account for when the Easter holiday falls. This year Easter fell at the end of March, and that likely factored into the decline compared to the same month last year.”
On a year-to-date basis, activity is still running ahead of 2012. Sales totalled 260 units in the first three months of 2013, up four per cent from the same period last year.
The average price of homes sold in March 2013 was $224,891, up 2.5 per cent on a year-over-year basis.
New listings numbered 160 units in March 2013, falling 24 per cent from March 2012.
There were 538 active residential listings on the Board’s MLS® System at the end of March 2013, up four per cent from levels at the end of March 2012.
There were 5.8 months of inventory at the end of March 2013. This was up from 4.8 months at the end of March 2012, but stands roughly on par with the long-run average for this time of the 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 $20.7 million in March 2013, down 13 per cent from levels recorded a year earlier.
Sales of all property types numbered 94 units in March, down 15 per cent from the same month in 2012. The total value of all properties sold was $21 million, down 14 per cent from March 2012.
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