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A Record-Breaking Month For Homes In August

Tuesday, 22 September 2020 07:19

The Woodstock-Ingersoll and District Real Estate Board recorded 175 units that sold last month, up 23.2% from August of last year. So far this year, the average price of a home sold is up 17%.

WOODSTOCK/INGERSOLL - The Woodstock-Ingersoll and District Real Estate Board posted another record breaking month in August.

They recorded 175 units that sold last month, up 23.2% from August of last year. This was also a new sales record last month.

On a year-to-date basis, home sales totaled 1,110 units over the first eight months of the year. This was down 6.2% from this period in 2019.

President Lesley Michie says the average price of homes sold in August, 2020 was a record $524,052, advancing 24.1% from last August.

"Home sales continued at an above average pace during the month of August.  New listings also appear to have stabilized over the last few months. However, the recent robust demand is depleting overall inventory which is contributing to upward price
pressure. This has driven the average price to a new all-time high for the second consecutive month.”

The more comprehensive year-to-date average price was $481,252, rising 17% from the first eight months of 2019.

There were 206 new residential listings in August 2020, which was the largest number of new listings added in the month of August in more than five years.

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