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WIDREB Reports New Listings Increase and Sales Decline

The Woodstock-Ingersoll and District Real Estate Board added 299 new residential listings last month, but only sold 134 units.

WOODSTOCK/INGERSOLL - Lots of people have been selling their homes but not a lot of people have been buying.

The Woodstock-Ingersoll and District Real Estate Boards sold 134 units in June. This is a 26.8 percent decrease when compared to last June and 19.6 percent below the 10-year average. Board President Anthony Montanaro says this has been the case across Southern Ontario, adding the rising interest rates are also dampening resale demand.

That being said, the board also added 299 new residential listings last month which is a 44.4 percent increase compared to June 2021. It's also the largest number of new listings ever added in the month of June.

The benchmark price for a single-family home was $762,700 last month, which is an 11.1 percent increase on a year-over-year basis.

The average home sold for $761,841. This is a 13.5 percent increase compared to this time last year.

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