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A Record Setting January for the Woodstock-Ingersoll & District Real Estate Board

Wednesday, 9 February 2022 07:58

The Woodstock-Ingersoll and District Real Estate Board sold 118 units last month, setting a new record for the month of January.

WOODSTOCK/INGERSOLL - The Woodstock-Ingersoll & District Real Estate Board set a new sales record for the month of January.

A total of 118 units were sold last month. This is a gain of 81.5 percent when compared to January of last year. It's also 21.4 percent above the five-year average and 32.7 percent above the 10-year average for January.

President Anthony Montanaro says it was a great month for the real estate board.

"Home sales marked a huge recovery from last January’s levels and set a new record for the month. This is a very strong start to the year. New listings are still trending below average, which means that record-high levels of demand are whittling down overall inventories at an even faster level now. We’re currently looking at the lowest level of active listings in history and an extremely tight market, with benchmark price gains of more than 30% to match."

The benchmark price for a single-family home was $683,700 last month, an increase of 34.8% on a year-over-year basis. The benchmark price for townhouse/row units was $441,100 which is 48.1 percent higher compared to last year.

The average price of homes sold in January was $839,721. This is an increase of 29.3 percent when compared to January 2021.

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