Whether weather takes its toll on WIDREB stats?

'Polar Vortex' brings down January real estate sales numbers

By Mark Schadenberg

The previous four January total sales numbers averaged 67.5 in the WIDREB geographical area.

The Woodstock-Ingersoll Real Estate Board, however, reported only 44 sales for January of 2014.

Many reasons could be attached to this low total, but most certainly the polar vortex would be the top reason. In previous years there would have been at least six or seven days in January where the temperatures topped 0C. If you looked at www.weathernetwork.com stats you would have noticed two days in January 2013 which topped +10C, which resulted or reflected into a total of 77 sales for the first month of last year.

As the saying goes: ‘there’s no business like snow business’, which means the overall consumer psychology was lower this year and has quite likely continued somewhat into February.

The other factor in the Woodstock – Ingersoll board area is that total active listings is low, which means some motivated-and-interested home buyers – are simply not finding a house to suit their needs. The number of new listings this January was 128 compared to these loftier totals going backwards from 2013 to 2009: 178, 150, 153 and 203.

The Canadian Real Estate Association has compiled its final numbers for the opening month of 2014 and they indicate the low numbers could be seen around Ontario to kick off 2014: http://creastats.crea.ca/natl/

The CREA press release included a quote from the association’s president, who actually hails from Stratford:

“A number of buyers likely waited out January’s deep freeze before going house hunting, particularly where I’m from in Southern Ontario,” said CREA President Laura Leyser. “It’s a perfect example of how a local influence that may not be shared by other markets can factor into national sales activity. Like the weather, all real estate is local. To see what’s driving the housing market where you live or might like to, your best bet is to talk to your local REALTOR.”

I’m still confident that 2014 will be a great year to buy a home in Oxford County as we continue to have a strong local economy, especially with new industry swing its doors open (Sysco) and the on-going low interest rates.

However, whether (pun) the market will heat up soon, depends on the weather.

Mark Schadenberg, Sales Representative

Senior Real Estate Specialist (SRES designation)

Royal LePage Triland Realty

757 Dundas St, Woodstock

www.wesellwoodstock.com

(519) 537-1553, cell or text

Email: mschadenberg@rogers.com

Twitter: markroyallepage

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