Ben Sage, Moving Woodstock
Woodstock Ontario Real Estate Stats for November 2016
November 2016 Residential Market Report
Buyers keep lining up!
Supply still tight!
Here are some statistics about the Woodstock Residential Real Estate Market for November 2016:
At the end of November there were only 90 homes for sale in the city of Woodstock. This is WAY down from November 2015, at which point there were 141 homes for sale.
Average price showed a predictable gain of 10.2% over November of last year, and has stayed above THE $300,000 mark, to end the month at $301,422.
Look how the November average price in Woodstock has appreciated over the past five years:
The number of sales was consistent this month vs. last year. In November of 2016, we saw 57 sales, which was up just a hair from last year’s 54 sales in November.
The real measure of the “heat” in the market is the Absorption Rate, which measures supply relative to demand. Remember, the lower the line, the better for sellers (worse for buyers). The blue line is 2016…. over the past eight 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.
A couple months ago it appeared as though a new trend was forming, with two consecutive months of easing demand vs. supply. That ticked back down last month, but in November, it showed a slight easing to 1.58 months. We are STILL MILES AWAY from a balanced market. This should be an interesting (read: busy) winter….
But, I want to buy a home!
Our team has been working diligently to create the “Dream Home Finder,” which is an exclusive plan to find the right home for buyers who are looking to purchase. This year 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 eight 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.
The market is showing no signs of slowing down for Christmas. It remains a great time to be a seller, and our Dream Home Finder program is the perfect tool to help you navigate this market, if you are looking to buy a home.
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...