519-536-7535 ext 487

Woodstock Homes Team

Search More

Ben Sage, Moving Woodstock

Woodstock Ontario Residential Real Estate Market Update for October 2014

Posted on November 10, 2014 by Ben Sage in Woodstock Ontario Real Estate Stats

 

October in Woodstock…  How did it go?

High demand and low supply is the theme, under $300,000.  If you’re over that price, prepare to wait!

Generally speaking, average prices are strong, with the average in October hitting $232,488.  This was down from September’s dizzying high of $258,388 (WOW), but up from October last year, by 3%.

 

 

Slide1

 

The low supply situation has not subsided, and actually total available inventory is down almost 5% compared to this time last year.  This limited supply and steady demand has made it a challenge for those looking to get into the market, especially in a first time buyer range.  Around 60% of homes for sale priced between $150,000 – $250,000 sold in October.

 

Slide3

 

So Average sale prices are up, but inventory keeps shrinking (it was down 2.8% in September, and down 2.9% in August too) and number of sold units is on par with previous years.

 

This is clearly indicating a trend towards higher home prices.  Lower inventory, consistent demand, and no other external factors to report, means pricing should stay solid in the foreseeable future.

 

Slide3

For past reports on Woodstock Home Values, click here.

 


Curious as to the value of your home?  Complete this form for a free report on your home’s value!


Looking for a new home? Complete this form to receive today’s freshest MLS listings delivered straight to your inbox, FREE!










0 comments

Leave A Comment