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Another Record Setting Month for Real Estate in Woodstock/Ingersoll

Thursday, 12 November 2020 17:21

The Woodstock-Ingersoll & District set a new sales record for the month of October and the average price of homes sold was $533,644.

WOODSTOCK/INGERSOLL - The Woodstock-Ingersoll & District set a new sales record for the month of October.

They sold 196 units, which is up 26.5% from October 2019. On a year-to-date basis, home sales totalled 1,496 units over the first 10 months ofthe year. President Lesley Michie says this edged up 1.7% from this period in 2019.

“Home sales continue to shatter records this year, reaching the highest level ever for the month of October. New listings are coming in at a much slower pace than sales are, depleting overall inventory which continues to contribute to upward price pressure.”

The average price of homes sold in October 2020 was $533,644, rising 22.5% from October 2019 to hit the second highest level on record.

The more comprehensive year-to-date average price was $496,362, up 19.6% from the first 10 months of 2019.

There were 182 new residential listings in October 2020. This was down 5.7% (11 listings) on a year-over-year basis.

Overall supply is hovering close to the lowest level on record. Active residential listings numbered only 111 units at the end of October. This was a significant decline of 64.5% from the end of October 2019.
 

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