The Woodstock-Ingersoll & District Real Estate Board set a new record for housing sales in December.
WOODSTOCK/INGERSOLL - Housing sales have reached a new December record for the Woodstock-Ingersoll & District Real Estate Board.
Residential sales in December showed that 95 units were sold, compared to the 62 houses sold in 2018 which is up over 53% from last year.
The home sales in December 2019 valued $40.5 million 56% more than in 2018 which was close to $15 million.
President of the Woodstock-Ingersoll & District Real Estate Board Lesley Michie says their sales are high but their stocks are low.
"Home sales finished 2019 on a very strong note, the issue heading into 2020 is not demand but supply. The number of homes for sale as of New Year's Day was the lowest ever recorded in the region."
In 2019 over 1,468 houses were sold, which is up 7.5% from 2018 in this same time period. The average price of homes sold in December 2019 was $426,658, which up just over 2% from December 2018. The annual average price was $411,219, rising 9% from 2018.
Although sales in December were high their overall supply of homes are currently at all-time record lows with just 146 listings.
The housing market for the time being is in the seller's market due to the amount of homes uses in stock. The average price for houses now is around $426,000.

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