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Sellers Market Continues within the Woodstock-Ingersoll and District Real Estate Board

Thursday, 11 March 2021 05:35

A total of 132 units sold last month in the Woodstock-Ingersoll District Real Estate Board and the benchmark price for a single family home was over $539,000.

WOODSTOCK/INGERSOLL - Home sales in the Woodstock-Ingersoll and District Real Estate Board were up 15.8% percent compared to last year in the month of February.

A total of 132 units sold last month. Year over year though the amount of sales are down with 199 units going over the first two months of the year. This is down 14.2% from last year. President Alison Porter says sales started to come back a bit last month after two down months in a row. 

"After a bit of a breather in December and January, sales started to pick up again in February. We also saw a small uptick in new listings this past month. However, the number of newly listed resale homes was only slightly higher than the number of sales last month, leaving overall inventory hovering near its lowest level ever. With no signs that demand is going to disappear anytime soon, we would expect the upward pressure on prices to continue for the foreseeable future."

The overall MLS® HPI composite benchmark price was $520,600, a sharp increase of 36.6% in February 2021 compared to February 2020.

The benchmark price for single-family home was $539,300, which is up significantly, 37.6% from this time last year. 

The average price of homes sold last month was $637,580, up 43.3% from February 2020. 

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