Residential Sales info
MLS® resale housing activity in the area served by the Woodstock-Ingersoll & District Real Estate Board reached its third highest annual level ever in 2007.
Activity posted strong year-over-year gains in every quarter of the year. As a result, a nnual sales activity reached 1,287 units in 2007, up 9.3 per cent from 2006 levels. This is just 6.3 per cent below the peak reached in 2005, and one sale short of the second highest level, in 2004.
In the fourth quarter of 2007, seasonally adjusted MLS® sales activity edged lower by six tenths of one per cent compared to the previous quarter, reaching 324 units (seasonal adjustment removes normal seasonal fluctuations).
The market continues to trend toward becoming more balanced. MLS® single detached home sales increased slightly in the fourth quarter of 2007, while active listings declined compared to the same quarter a year earlier. This caused the market to tighten, but the market was more balanced in the fourth quarter of 2007 than during almost any other quarter in the past seven years. MLS® single detached listings spent more time on market before being sold as a result.
The median sale price for MLS® single detached homes rose 7.2 per cent year-over-year to $208,950 in the fourth quarter of 2007.
Single Detached | |||
Category | Q4 2007 | Q4 2006 | Year-over-year percentage change |
Unit sales | 184 | 183 | 0.5 |
Median sale price ($) | 208,950 | 195,000 | 7.2 |
Information courtesy of the Canadian Real Estate Association.
Labels: Real Estate, Real Estate Advice, Real Estate Market, Residential Sales, Woodstock, Woodstock ON Real Estate, Woodstock Ontario Real Estate
posted by Ben Sage, Sales Representative @ 8:59 PM
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