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Home Sales Down In 2012

Wednesday, 9 January 2013 10:09

The Woodstock-Ingersoll and District Real Estate Board are reporting an overall decrease in sales for 2012. A total number of 1,022 units sold in 2012 which is down eight percent from 2011. Even though sales were down four percent last month, Board President William Cattle said "resale housing demand remained below year-ago levels in December, it did bounce back from lower levels reported in October and November", which saw a of 21 percent in November. December did see an increase in dollar levels with the average price for a home coming in at $237,366, an increase of nine percent on a year-over-year basis. Overall for 2012, the annual average price came in at $224,950 which also represents an increase of three percent. "We also saw a bigger than expected year-over-year jump in the average selling price in December. That said December is the quietest month of the year, so a couple of expensive sales here or there can have a big impact on the calculation of the average price in the region". At the end of December, the Board reported 477 active residential listings on their MLS System, a decline of 21 percent from levels at the end of 2011.

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