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Ben Sage, Moving Woodstock

Woodstock Ontario Residential Real Estate Market Update, April 2014

Posted on April 11, 2014 by Ben Sage in Woodstock Ontario Real Estate Stats

Thank you for visiting Woodstockhomes.com.

So far, weather has dominated the conversation this year.  My report for April will be no different.  The thaw is upon us and the market is returning to its normal state.  Throughout the board, our sales numbers totaled 89 units in March 2014, which was only off 3% from last year.  Lets drill in on Woodstock though.

Slide1

Average Sale price in the month of March was $220,957.  That was down 7.5% over the same month last year.   The last three months have shown a decrease in average sales price in the city of Woodstock. It could be a result of fewer higher end homes changing hands, lower sales numbers overall, or just a seasonally expected blip.  Either way, this is a trend I will be watching in the months to come.

Slide2

Number of Sales in March 2014 was 49 units, which was UP 26% from the same month last year.

Slide3

At the end of March, there were 225 Residential properties for sale in Woodstock, which is down 11.8% from March 2013. An interesting note is that March is generally considered the beginning of LISTING SEASON, and we had only two more homes on the market at the end of March, than we did at the end of February.  So new listings and marching in tandem with sales, indicating a tight market.

So if we look at these indicators, we note that the # of sales is up significantly, amount of available inventory is down significantly,  and the dreaded weather we’ve talked so much about seems to finally have given us all a break, it all seems to add up to a busy spring market.

Woodstock remains a healthy real estate market.  Sellers who are adequately prepared to sell their homes are getting offers in a short amount of time.  This puts sellers in the position of power in the negotiations.

If you’re a buyer trying to enter the marketplace, it is hard for me to remember a time where finding and buying a house has been more challenging.  Simply put, the good ones are selling quickly.  If you’re planning on entering the world of real estate ownership this spring, to be successful, you need to have your ducks in a row.  That means having a good mortgage pre-approval completed, getting a professional realtor working in your corner, and being willing to make moves when a home is listed that meets your criteria. Buyers working with me have the additional benefit of advanced notice for all homes I list, as well as an automatic notification system, advising them of new listings meeting their criteria every day.

If you swing by woodstockhomes.com, take a moment to fill out a form so that we can get started!  For buyers, click on “Search all homes” to create a home search account, and for sellers, click on “What’s my home worth?” to get a free online market report!  Please visit woodstockhomes.com today and lets get going!

Happy Spring!

 

April2014StatsJPG-FINAL


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