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Balanced Housing Market

Friday, 20 July 2018 at 05:35

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Realtors with the Woodstock-Ingersoll and District Real Estate Board have sold 709 units over the first six months of 2018.

OXFORD COUNTY - According to the Woodstock-Ingersoll and District Real Estate Board, the average price of a home was $378,885 last month.

This is up 8.4 percent when compared to June 2017.

Board President William Cattle says they also witnessed a dip in sales.

"The number of sales are actually down. There was a decline of 35.1 percent from this same time as of last year."

The board recorded 120 sales last month.

Looking at 2018 as a whole, 709 homes have been sold over the first six months of the year. This is also down 35.1 percent when compared to last year.

Cattle is optimistic looking at the future.

"I think we're heading back into a balanced market, which is not necessarily a bad thing. If our inventory would increase I think you would see an uptick in sales for sure."

There were 209 new residential listings were posted last month.
 

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