Ben Sage, Moving Woodstock
September 2016 Woodstock Residential Real Estate Market Report
September 2016 Residential Market Report
Record low supply continues, demand eases slightly. Is the trend showing a slight easing in pressure? Read on!
Here are some statistics about the Woodstock Residential Real Estate Market for September 2016:
At the end of September there were only 108 homes for sale in the city of Woodstock. This is UP from last month, but WAY down from end of September 2015, which showed a now unbelievable 180 homes for sale.
Average sale price showed a healthy, but disappointing (considering the market) increase of 1.2% over September last year, to $284,420.
Look how the September average price in Woodstock has appreciated over the past five years:
The number of sales dropped a bit this month. In September of 2016, we saw 62 sales, which was down 9% from September of last year.
Take a quick look at the Absorption Rate, which is a measure of supply relative to demand. Remember, the lower the line, the better for sellers (worse for buyers). The blue line is 2016…. over the past six months, conditions have been steady around the 1.35 -1.5 months mark (or almost unimaginably favourable to sellers), and WELL below the 4 year average, and WELL below “balanced” conditions.
This month, the rate bounced back again to 1.74… this is the second straight month in which pressure has EASED for buyers. It is still strongly a sellers market, but the trend indicates slight cooling in demand vs. supply.
What if you are looking to Buy a home?
Our team has created the “Dream Home Finder,” which is an exclusive plan to find the right home for buyers who are looking to purchase. This summer we have invested time and money into sourcing off-market homes for our buyers. We employ many different strategies to find off market, expired, and privately for sale properties, for the benefit of our buyer clients.
Over the past six months, when supply has become extremely tight, we have continued to work diligently for our buyer clients, employing strategies to help them win in this challenging market.
As we head into the fall rush, if you are thinking of making a move to be in by Christmas, contact us right away. We will assist you by creating a strategy that will make your dreams a reality!
We take enormous pride in understanding the market, to best assist our clients to capitalize on current conditions.
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...