Since it's been announced officially that sales in the Woodstock-Ingersoll District Real Estate Board (WIDREB) trading area were lower in 2012 compared to 2011, how did other neighbouring areas do?
Below is a story that appeared in The Simcoe Reformer newspaper pertaining to trends and numbers in the Norfolk County area. The story is interesting because it includes some Lake Erie shoreline area like Port Dover and Long Point, but also depicts Delhi totals which borders Oxford County.
Anyway, final numbers for WIDREB, which by the way does not include Tillsonburg, for 2012 were 1065. That number does not include private sales or new construction homes never listed MLS.
Here are final WIDREB-reported numbers, dating back to 2003. I use these numbers in all my market reports for possible clients because it dates before the spring of 2005 announcement that Toyota would be building a factory locally. Truth be told, 2005 started out quite slowly and then became an absolute boom beginning in April.
2011: 1159
2010: 1216
2009: 1080 (Car industry woes)
2008: 1176
2007: 1359
2006: 1278
2005: 1473 (Toyota manufacturing announcement was in June)
2004: 1366
2003: 1153
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Simcoe-area real estate board releases annual sales
statistics
By Daniel R. Pearce, Simcoe Reformer
Sunday, January 6,
2013
Amie Ferris, president
of the Simcoe and District Real Estate Board, says there are lots of options
for homebuyers in Simcoe. House prices in the town went up last year by 6%.
SIMCOE - Simcoe is gradually becoming the place
to live in Norfolk again.
Home sales in the county’s biggest town are rebounding
after years of losing ground to the charm offered by nearby Waterford and
especially Port Dover.
Affordability is the reason, said Amie Ferris, president
of the Simcoe and District Real Estate Board.
The trend can be seen in the board’s 2012 sales figures
released last week. While home prices across the county were flat for last
year, they jumped in Simcoe by 6% and sales volume was up there by 29%.
First time buyers and young families looking for more
space in their budget range are attracted by the town’s lower prices, Ferris explained.
“In Simcoe, you can by a house for $150,000. It would be
very difficult to buy a house in Port Dover for $150,000,” she said.
“There are a lot of options in Simcoe for everybody. We
find for a lot of first-time buyers, especially if they’re from Port Dover,
they wanted to be there, but they can’t afford it, so they ended up going to
Simcoe.”
Simcoe also has a wider range of offerings, she added,
with homes as low as $100,000 and as high as $1.2 million.
Overall sales in Norfolk increased by 18.64% last year
and prices inched up by .25%.
Houses also turned over quicker, lasting on the market
for an average of 81 days compared to 87 in 2011.
Port Dover remains the most expensive market in Norfolk.
The average price there last year was $252,608, an increase of 4%. Simcoe’s
average was $213,925 while Waterford came in at $225,170.
Prices fell in other parts of the county. Port Rowan’s
average was $155,359, a drop of 8%. Delhi’s decreased by 4% to $183,301 while
the lakefront summer community of Long Point had the highest average price in
Norfolk at $316,733, but that was down from last year by 9%.
Although the board doesn’t track the demographics of
buyers, retirees continue to make up a significant part of the local market.
Ferris noted, however, an unofficial trend: retirees move
here but sell after two or three years and return to the city where they have
family and access to amenities not found in small towns.
Waterford, she added, has become something of a commuter
town. People are living there and driving to work in Brantford and Hamilton.
Here are the residential real estate statistics for 2012
compared to 2011:
•For all of Norfolk
Properties listed: 2,005 (7% increase)
Properties sold: 904 (18% increase)
Average price: $221,826 (.25% increase)
Average days on the market: 81 compared to 87 in 2011
• Simcoe
Total listings: 470 (7% increase)
Total sales: 252 (29% increase)
Average price: $213,925 (6% increase from $201,805)
Average days on the market: 75 compared to 86 in 2011
• Port Dover
Total listings: 361 (19.5% increase)
Total sales: 136 (25% increase)
Average price: $252,608 (4% increase from $242,912)
Average days on the market: 76 compare to 82 in 2011
• Waterford
Total listings: 131 (21% increase)
Total sales: 61 (11% increase)
Average price: $225,170 (.37% increase from $224,336)
Average days on the market: 69 compared to 78 in 2011
• Delhi
Total listings: 180 (14% increase)
Total sales: 91 (1% increase)
Average price: $183,301 (down 3% from $189,054)
Average days on the market: 82 compared to 108 in 2011
• Port Rowan
Total listings: 87 (7.5% increase)
Total sales: 37 (9% increase)
Average price: $155,359 (decrease of 8% from $168,850)
Average days on the market: 90 compared to 100 in 2011
• Long Point
Total listings: 46 (decrease of 11.5%)
Total sales: 21 (increase of 75%)
Average price: $316,733 (decrease of 9% from $348,042)
Average days on the market: 111 compared to 61 in 2011
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