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WITAAR Releases Numbers for October

Thursday, 7 November 2024 at 10:43

By Cody Hayward

It was a month to remember for WITAAR as the October numbers were nearly record-breaking.

OXFORD COUNTY - It was nearly a record-breaking month for real estate in Oxford County.

The Woodstock Ingersoll Tillsonburg and Area Association of Realtors sold 213 units last month. This is an increase of 67.7 percent compared to last October. It's also 15.5% above the five-year average and 15.4% above the 10-year average for the month.

On the other hand, the real estate board also had 443 new residential listings last month. This is a 46.3 percent increase compared to the same time last year and it's also the largest we've seen in October.

If you're thinking about buying a new home, WITAAR President Alison Porter says now is the time to do so.

"October delivered a standout performance, logging the second-highest sales total on record for the month. The number of newly listed properties was above average for this time of year, outpacing sales by a 2-to-1 margin and helping to push overall inventory to nearly double the long-term average. Meanwhile, prices are holding steady and despite some fluctuation so far in 2024 average prices are virtually unchanged from the same period in 2023."

The average home sold for $642,715 which is a small increase of 0.8 percent from October 2023.

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