Ben Sage, Moving Woodstock
Woodstock Ontario Residential Real Estate Market Update, November 2013
It’s November 1, 2013, so that means it’s time to take a look at the Residential Real Estate statistics over the past month in the City of Woodstock, Ontario.
As the chart above indicates, it is still a sellers opportunity in price ranges under $300,000, with a distinct shift to a Buyers market above $300,000. The “upgrade opportunity” mentioned in last months blog still exists, however an increase in supply in homes between $200-$250,000 will not help those trying to upgrade from that price point.
As usual, if you are selling your home, well priced and well prepared homes still continue to sell in under average amounts of time. The average days on market for Woodstock Residential Properties decreased 6 days to 65, and the average price is $223,670, which is up SLIGHTLY from last year at this time, when the average price was $222,655.
An important fact to note, is that earlier this month the Fed announced no rate changes, and in fact expressed lower confidence in the Canadian Economy, indicating a trend towards longer low-rates, and in fact raising the possibility of a further rate decrease. Something almost unimaginable, as rates have been extremely low for a number of years.
As always, if you have questions about this statistics report, my listing or buying services, or anything Real Estate related, please don’t hesitate to ask. Use the form on the right side of my page at www.WoodstockHomesOnline.com to reach me, and I would be happy to help.
I have been successful helping clients buy, sell, or lease residential, commercial, or investment properties in the Woodstock, Ontario area since August of 2007. With technical experience ... Read More...