WOODSTOCK-INGERSOLL & AREA HOME SALES UP IN DECEMBER Residential sales activity recorded through the MLS® System of the Woodstock-Ingersoll and District Real Estate Board numbered 58 units in December 2014. This was up 7.4 per cent from a year earlier. “Home sales were back up again in December following a dip in November,” said William Cattle, President of the Woodstock-Ingersoll & District Real Estate Board. “For 2014 overall, the combination of a slow first quarter followed by a relatively healthy remainder of the year put the annual sales figure roughly in line with both its five and 10-year average. The average price of a home in the region in 2014 was just over $240,000, up 4.4 per cent or about $10,000 from 2013.” Annual home sales totaled 1,138 in 2014, down 4.8 per cent from 2013. The average price of homes sold in December 2014 was $244,139, up 7.8 per cent from a year earlier. The annual average price was $240,235, an increase of 4.4 per cent from the same period in 2013. New listings were up 21 per cent on a year-over-year basis to 75 units in December 2014. The large increase mainly reflects a sharp slowdown at the end of last year. Active supply has generally been trending downward since late 2008 but has been more or less stable over the past year. There were 419 active residential listings on the Board’s MLS® System at the end of December 2014, unchanged from levels at the end of December 2013. There were 7.2 months of inventory at the end of December 2014, down from 7.8 months at the end of December 2013 and well below the long-run average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity. The dollar value of all residential property sales amounted to $14.2 million in December 2014, rising 15.8 per cent from levels recorded a year earlier. Sales of all property types numbered 59 units in December, edging down 1.7 per cent from the same month in 2013. The total value of all properties sold was $14.4 million, an increase of 9.4 per cent from December 2013.
Posted on: Mon, 05 Jan 2015 20:26:15 +0000