Residential sales activity recorded through the MLS System of the Woodstock-Ingersoll & District Real Estate Board numbered 118 units in July 2013, jumping 31 per cent from year-ago levels.
“Not only did home sales in July reach the highest level for the month in eight years, it was actually the second best month of July ever,” said William Cattle, President of the Woodstock-Ingersoll & District Real Estate Board. “A total of 740 homes have traded hands so far this year. That’s running 18 per cent ahead of the same period in 2012, and marks the strongest first seven months of any year since 2007”
The average price of homes sold in July 2013 was $212,329, down 2.6 per cent from last July.
New listings rose 19 per cent on a year-over-year basis to 185 units in July 2013.
There were 579 active residential listings on the Board’s MLS System at the end of July 2013, down seven per cent from levels at the end of July 2012. Overall supply has generally been trending downward since late 2008.
There was 4.9 months of inventory at the end of July 2013, down from 6.9 months at the end of July 2012 and below the long-run average for this time of year as well. 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 $25.1 million in July 2013, rising 28 per cent from levels recorded a year earlier
Sales of all property types numbered 122 units in July, up 27 per cent from the same month in 2012. The total value of all properties sold was $25.9 million, rising nine per cent from July 2012.
SOURCE - Woodstock Ingersoll District Real Estate Board
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