Record Setting January For Residential Sales Locally

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Thursday, 9 February 2017 11:16

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The average price of homes sold in January 2017 was $325,263. This is up 28.3% from last year at this time.

INGERSOLL/WOODSTOCK - Residential sales in the Woodstock-Ingersoll and District Real Estate Board set a new record for tech month of January. 

105 units were sold last month which is up 43.8% from January 2016. The average price of homes sold in January 2017 was $325,263. This is up 28.3 percent from last year at this time. 

Part of the reason for the record numbers could be a case of supply and demand. Active supply is trending at all-time low for the board. There were just 195 active residential listings at the end of January which is down 30.9% from this time last year. 

President of the Woodstock-Ingersoll and District Real Estate Board Lesley Michie says the active supply being so low, helped the sellers in January. 

"With active supply running at record lows, it appears perhaps that the unexpected increase in new listings at the end of 2016 allowed for the jump in sales in January. Going forward, monthly sales figures will continue to be heavily influenced by how new listings come on stream."

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