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Woodstock-Ingersoll and District Real Estate Board Reports December Sales Record

Monday, 11 January 2021 at 05:56

The Woodstock-Ingersoll and District Real Estate Board recorded 98 home sales last month, with single family homes selling for an average of $499,800.

WOODSTOCK/INGERSOLL -  A total of 98 homes were sold in the month of December according to the Woodstock-Ingersoll and District Real Estate Board. 

This is up 3.2% from December 2019. President of the WIDRESB Alison Porter says this actually set a new sales record for the month of December.

"Home sales set another record in December, which is no surprise given the recent trajectory of sales activity. For the year, we came in just 4 sales shy of the second-highest annual sales on record. Historically speaking there’s virtually no active inventory left over on the market right now – almost everything that gets listed is being snapped up by hungry buyers. With no relief in sight on the supply side we might very well continue seeing strong double-digit price growth into 2021."

Single family homes last month were going for an average of $499,800, which is up of 32.4% on a year-over-year basis in December.

By comparison, the benchmark price for townhouse/row units was $308,800, rising 22.8% compared to a year earlier.

Supply continues to be low in the area with only 59 new residential listing in December. This is down 6.3% from this time last year. Active listings haven't been this low in the month of December in more than three decades. 

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