By Mark
Schadenberg
Houses are
always selling in our market (Woodstock – Ingersoll) and in all
areas.
How
briskly are they selling ?
How did
August of 2014 compare to the 10 previous Augusts?
The answer
is: average.
The month of August, 2014, included
109 WIDREB sales, and that total is quite similar to every year,
dating back to 2006 with the best result as 118 last year (2013)
and the worst as 88 in 2010. The difference year was the overall
record-setting 2005 and that represents the moment in time when
Toyota announced it would be building a car factor in Woodstock.
Here's
the full list:
2014:
109 2013: 118 2012: 106
2011:
110 2010: 88 2009: 110
2008:
91 2007: 108 2006: 103
2005:
175 (correct)
Sales numbers in the
Woodstock-Ingersoll District real estate board area (WIDREB also
includes Norwich, Innerkip, Sweaburg, Beachville, Embro, Mt Elgin,
Hickson, Drumbo and points in-between), depict that 2013 was a good
year versus 2012, but actually also an average year overall. See
numbers.
2013:
1196 2012: 1065 2011: 1159 2010: 1216
2009:
1080 2008: 1176 2007: 1359 2006: 1278
2005:
1473 (correct) 2004: 1366 2003: 1153 Average: 1229
Keep in mind,
these stats are solely for reported MLS activity, and do not include
private sales or custom-built contracts not ever advertised (listed)
MLS.
Of important note, the 2014 calendar
started quite slowly, mostly due to the horrendous winter, with only
204 sales in the first quarter versus 272 last year, 253 in 2012, 288
in 2011 and . . . . . 313 in 2007.
Here also is a look at three other provincial smaller markets. The
Parry Sound story is good to read as you can see that a small sample
of about 30 days in a small community, how numbers can sway so
drastically.The London area reported strong sales for August and a much better summer in 2014 versus 2013, which means overall this year is now trending higher than last year, and that is not the same case in WIDREB.
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Press
Release from the LSTAR Site:
LONDON
– Area home sales began to trend upwards in the spring of 2014 with
sales that exceeded those of the previous year in May (by 5%), June
(by 23.4%), July (by 24.4%) and, now, August (by 13.6%).
There
were 791 homes sold in August 2014, making last month the best August
since 2007, when 871 homes sold.
"Even better, we're starting to pull ahead of last year," says Jim Holody, president of the London and St. Thomas Association (LSTAR) of REALTORS. "As of August 31, a total of 6,102 homes have sold, 7.1% over 2013 at this same time. We're seeing a strong recovery on the part of our local market after a long, hard winter and an unusually cool spring. If this continues, 2014 may very well prove to be a better year than 2013."
Last month, 642 detached homes exchanged hands, up 15.9%; condos were up 4.9%, with 149 sales.
By contrast, listings for August were down – 3.8% for detached homes and 10.4% for condos.
"The improving job picture in our region supports a higher level of activity," says Holody. "That, in turn, impacts inventory. However, there are still a lot of great homes out there and more being listed every day."
Despite the slight decline in the number of listings, the market remains balanced, benefiting buyers and sellers alike, according to the posted press release.
The news for St. Thomas was also good. 68 homes sold in that city last month – an increase of 14 units or 25.9% over the previous August.
"This makes August 2014 the best August for St. Thomas since 2009 when 75 homes sold," says Holody. Year-to-Date sales in St. Thomas are up 0.6% overall and the average price of a home in that City (Year-to -Date) is $202,122, up 0.3%.
The average price for a home in LSTAR's jurisdiction (Elgin and Middlesex Counties) was up 3.8% for detached homes ($271,033) and 2.1% for condos ($182,111). The average price for all homes in the London and St. Thomas area (Year-to-Date) stands at $253,823, up 3.3%.
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PARRY
SOUND District
PARRY
SOUND – Residential property sales recorded through the MLS®
System of the Parry Sound & Area Association of REALTORS®
numbered 53 units in August 2014, up four per cent from a year
earlier.
“August
home sales came in in line with the five-year average for the month,
and above the previous two years,” said Chuck Murney, President of
the Parry Sound & Area Association of REALTORS®. “For the
year-to-date, activity is still trailing last year by a little over
six per cent due to a slow start this year.”
The
average price of all residential properties sold in August 2014 was
$293,502, a decline of six per cent from the same month a year
earlier. The less volatile year-to-date average sale price was
$300,268, up six per cent from the first eight months of 2013.The average price for recreational properties declined 19 per cent on a year-over-year basis to $312,595 in August. By contrast, the average price for single detached homes jumped 20 per cent over the same period to $283,229.
New residential listings numbered 98 units in August 2014, an 11 per cent decline from August 2013. New supply has come back to earth following a surge in June.
There were 779 active residential listings on the Association’s MLS® System at the end of August 2014, up 10 per cent from the same time last year.
There were 14.7 months of inventory at the end of August 2014. This was up a bit from 13.9 months one year ago and stood above the long-run average for this time of the 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.
Important information
The Parry Sound & Area Association of REALTORS is committed to a high standard of business practice, strong business ethics, and continuing education development that assists REALTORS in effectively serving the real estate needs of the community. With approximately 100 members, its REALTORS service a large geographical area, extending from the French River to the north, southerly to Go Home Lake Road, easterly to the Highway 11 corridor, and westerly which includes the shores of Georgian Bay.
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CHATHAM
Area
The
136 homes sold in August was a jump of 42% over August 2013,
according to figures released by the Chatham-Kent Association of
REALTORS.
“August
sales were historically very strong,” said Ron Smith association
president in a written release. “It was the strongest sales figure
for any month in more than three years.
“It
was also the best month of August since 2007, and was tied with 2004
for the second best month ever,” he added.
The
average price of homes sold in August was $158,751, which is actually
down 4.8% from August 2013, which is largely a reflection of a
temporary jump in the average selling price last August.The year-to-date average sales price was $154,631, up 2.5% from 2013.
New listings numbered 217 units in August, up 32% from the same month last year. The size of the increase reflects the combination of rising new listings now and very low levels of new listings a year ago, stated the media release.
There were 705 active residential listings on the association's MLS System at the end of August, up 9% from August 2013.
There were 5.2 months of inventory at the end of August, down from 6.8 months a year earlier and 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.
Mark Schadenberg, Sales Representative
Senior Real Estate Specialist (SRES designation)
Royal LePage Triland Realty
757 Dundas St, Woodstock
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