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Real Estate Board Reports Home Sale Increase in August

According to the Woodstock, Ingersoll and District Real Estate Board; 140 units were sold in August.

WOODSTOCK - The Woodstock, Ingersoll and District Real Estate Board recorded 140 units sold in the month of August. This is up almost 24 percent from July. 

So far in 2018, 984 units have been sold in the district through the first 8 months of the year, which is down 27.4 percent from 2017. Board President William Cattle says they are still dealing with supply and demand issues right now. 

"Home sales improved further in August, marking just the fourth time in history that August sales have managed to reach the 140 mark. Meanwhile, with supply still very low, prices continue to set records."  

The average price of a home in August was $392,303. This set a new record and is up nearly 25 percent from the same month last year. 

The more comprehensive year-to-date average price was $377,695. This is up 11% from the first eight months of 2017.

Supply is still near all-time lows. Active residential listings numbered 322 units at the end of August, up 6.3% from the end of August 2017 and up from 2016 as well, but below every other year on record. 

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