WITAAR sold 160 units in April, with the average home selling for $622,196.
OXFORD COUNTY - The Woodstock Ingersoll Tillsonburg and Area Association of Realtors (WITAAR) sold 160 units in April.
This is a 9.6 percent decrease compared to April, 2024. President Cassandra Benard says it's also 14.2 percent below the five year average and 13.4 percent below the 10-year average for the month.
"Sales rebounded to the highest single month total since the fall but remained below last year’s totals and historical averages for the month. New listings we down slightly from last April but were in line with what would be expected for this time of year."
The real estate board added 310 new residential listings last month, which is an 8 percent decrease compared to last April. However, it is 1.2% above the five-year average and 14.5% above the 10-year average for the month.
There were 648 active listings at the end of April. This is a 19.1 percent gain compared to April 2024 and it's also 59.4 percent above the five year average and 68.4 percent above the 10-year average.
Benard says they haven't seen this many active listings for April in a decade.
"With the number of newly listed properties nearly doubling the pace of sales, overall inventory rose for the third consecutive month. As a result, active listings were significantly above the long-term average for the month and market balance remained tilted in favour of buyers. Now that the election is
behind us and the Bank of Canada has decided to hold interest rates steady, the task ahead is to address the continued uncertainty of shifting tariffs and how those developments are impacting our local job and housing market."
The average home sold for $622,196 last month, about a 9 percent decrease compared to the same time last year.
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