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A Drop in Residential Sales in Woodstock, Ingersoll and District

Saturday, 23 September 2017 at 06:44

The Woodstock Ingersoll and District Real Estate Board is reporting a 36.8 percent drop in residential sales for the month of August.

WOODSTOCK - Residential sales activity was down last month in the Woodstock Ingersoll and District Real Estate Board. 

91 units sold in August, which is down 36.8 percent from July, which was a record setting month. Year-to-date home sales numbered a record 1,200 units over the first eight months of 2017, up 14.4 percent from the same period last year. This still leads all other years on record. President of the Woodstock-Ingersoll and District Real Estate Board Lesley Michie explains. 

"Home sales and new listings fell in tandem in August, suggesting current housing market uncertainty in the Greater Golden Horseshoe region is prompting both buyers and sellers to take a pause on the sidelines at the moment to see how things play out."  
The average price of homes sold in August 2017 was $324,300, which is up 5.3% percent from August of last year. 

Active supply is still trending near all-time lows, although it is up from even lower levels at this time last year. There were just 270 active residential listings on the Board's MLS® System at the end of August. 

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