Home sales were solid in October, however the market is still dealing with historic lows in the Woodstock Ingersoll and District Real Estate Board market.
WOODSTOCK/INGERSOLL - The Woodstock Ingersoll and District Real Estate Board recorded 130 residential home sales in October.
That number is up 4% from October 2018. Year to year, home sales have totalled 1,249 units for the first 10 months of 2019, up 6.3% from the this period last year. President Neil Krushel says they are still dealing with a supply issue.
"Home sales were solid in October, standing among the better sales figures on record for that month. The issue heading into 2020 is going to be the worsening lack of supply in the region. The imbalance between supply and demand has prices on track for a fourth consecutive sizeable annual gain this year."
The average price of homes sold in October was $423,019, up 13.% from October 2018. Overall the price of home sales are up 8.8% so far in 2019.
There were 162 new residential listings in October 2019. This was a decrease of 13.8% on a year-over-year basis.
Overall supply is at record lows. Active residential listings numbered just 233 units at the end of October, a large 30% decline from the end of October 2018.

Serious Collision Under Investigation in Norfolk
OPP Recover 191 Boxes of LEGO
Woodstock Police Briefs
Woodstock Receives OLG Payment
Operation Safe Driver Campaign Result
CO Awareness Hits Oxford County
Norwich Township Candidate Profile - Shawn Gear
Oxford County to Replace Water Meters
Oxford OPP Investigating Scam in Tillsonburg
Truck Fire Caused Delays on 401
Environment Canada Issues Yellow Watch for Thunderstorms
Pharmasave Woodstock Dragon Boat Festival Returns
Norfolk OPP Briefs - July 20th
Oxford OPP Briefs - July 20th
Solicitor Scam
Phase 2 of Oxford Road 2 Construction to Start this Week
Woodstock Candidate Profile - Kelly Gilson
Ingersoll Candidate Profile - Dave Cripps
Impaired Driver Charged in Tillsonburg
StreetFest Moving Forward in Woodstock
Comments
Add a comment