Ben Sage, Moving Woodstock
Woodstock Market Report – April 2013 Edition
Home Sales up Year over Year in April
Home sales activity recorded through the MLS® System of the Woodstock-Ingersoll and District Real Estate Board posted a sizeable increase in April 2013 compared to lower levels last year.
Home sales numbered 121 units in April, up 36 per cent from last April.
“Home sales remained on a solid footing in April, although demand was not quite as strong as it was at the beginning of the year,” said William Cattle, President of the Woodstock-Ingersoll & District Real Estate Board. “Interestingly, while March and April of this year both saw roughly the same level of demand, we went from reporting a 15 per cent year-over-year decline in March to a 36 per cent jump in April. This is a perfect example of how year-over-year comparisons are often just a story about what was happening last year. In this case, it was a big drop from March to April last year.”
On a year-to-date basis, activity continues to run ahead of 2012. Sales totalled 381 units in the first four months of 2013, up 12 per cent from the same period last year and slightly above 2011 as well.
The average price of homes sold in April 2013 was $238,187, up five per cent on a year-over-year basis.
New listings numbered 191 units in April 2013, down five per cent from April 2012.
There were 555 active residential listings on the Board’s MLS® System at the end of April 2013, down 10 per cent from levels at the end of April 2012.
There were only 4.6 months of inventory at the end of April 2013, the lowest level in nearly six years. This was down from 6.9 months at the end of April 2012 and also stands below 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 $28.8 million in April 2013, jumping 43 per cent from levels recorded a year earlier.
Sales of all property types numbered 127 units in April, up 35 per cent from the same month in 2012. The total value of all properties sold was $31.2 million, rising 33 per cent from April 2012.
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