2017 sales up 40.4% from 2016

Residential sales activity recorded through the MLS® System of the Woodstock-Ingersoll and District Real Estate Board numbered 191 units in March 2017, rising 23.2% from a year earlier.

Year-to-date home sales numbered 438 units, up 40.4% from this time last year. This is a record for the first quarter of any year by a huge margin.

“More homes traded hands in March 2017 than in any other month in the history of the Woodstock-Ingersoll and District Real Estate Board,” said Lesley Michie, President of the Woodstock-Ingersoll & District Real Estate Board. “New listings will be critical in the months ahead if sales are to maintain this kind of pace. With supply now at all-time lows, prices are way up over last year.”

The average price of homes sold in March 2017 was $338,006, rising 20.2% from March 2016. The year-to-date average price was $337,501, up 26.2% compared to this time last year.

New listings numbered 195 units in March 2017, up 30% from March 2016.

Active supply is trending at all-time lows. There were just 187 active residential listings on the Board’s MLS® System at the end of March 2017, down 35.3% from levels at the end of March 2016.

There was just one month of inventory at the end of March 2017, down from 1.9 months at the end of March 2016 and far below the long-run average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The dollar value of all residential property sales amounted to $64.6 million in March 2017, rising 48.1% from a year earlier. This was the highest level of any month on record. “Report from Crea.ca”

“Information Report from Crea.ca”