93 Sales Reported in November in WIDREB

It's not boxing, it's real estate

In boxing, it’s called the tale of the tape. In real estate, it’s the tale of the statistics.

Numbers always paint a picture. You can look at a series of sales figures and explain exactly what was happening at the time.

If you’re considering selling your home, it doesn’t matter if it’s a buyer’s market or a seller’s market, the asking price should be accurate.

 I’ve been in real estate full-time for 13 years now, but for stats I only range back to 2005 as it was in the spring of that year that Toyota announced it would be building a factory here to produce the Rav4. Almost overnight prices went up 15 - 20 % and the market change dramatically.

Here, therefore are total sales numbers for the first 11 months of the past seven years in WIDREB (Woodstock-Ingersoll board area also includes Innerkip, Norwich, Sweaburg, Burgessville, Beachville, Mt Elgin, Embro and points in-between):

2011: 1106

2010: 1154

2009: 1010

2008: 1118

2007: 1315

2006: 1218

2005: 1426

You can see 2009 was low in total sales due to a slow car industry, especially among the North American big three, including an almost shutdown at Ingersoll’s CAMI. However, 2011 is in line with the 2009 number.

In 2005, sales totals were quite high and it’s safe to assume many additional properties sold that were not formally MLS listed as multiple-offers and quick sales were everywhere as properties – with or without homes built on them – were selling rapidly and many purely on speculation.

As for November totals, 2011 was close to the last three years – 93 in 2011, 84 in 2010, and 87 in 2009. However, the car collapse of late 2008 resulted in just 55 sales after both 2007 and 2006 were both at 104 each.

Oxford County certainly follows regional and national trends.

In the meantime, I’m not an economist, but this is a great time to buy as there is a downward pressure on residential resale prices and interest rates are microscopic.

Mark Schadenberg
Royal LePage Triland Realty
Woodstock
Email: mschadenberg@rogers.com
(519) 537-1553