Good news for buyers is number of new listings is finally rising
By
Mark Schadenberg
Is
there a ceiling or will the numbers stay above the clouds throughout this year?
The
Woodstock-Ingersoll District Real Estate Board (WIDREB) stats for March of 2017
indicate that factors continue to be pointing to an on-going hectic market.
Multiple
offers? Check
An
increase in average sale prices by more than 25% in the past year.
A
true lack of listings or overall inventory continues.
Month-by-month
reports on total sales continues to surpass all numbers in the record books.
In
March of 2017 there were 202 transactions reported (WIDREB is Woodstock,
Ingersoll, Sweaburg, Innerkip, Norwich, Burgessville, Beachville, Salford, Thamesford,
Embro, Hickson, etc), which is a significant jump from 158 last year, and 116
in 2015. To paint an even more accurate picture, during the auto industry
slowdown of 2009, there was only 71 sales in March during that calendar.
The
year-to-date number is already 455 versus 323 in 2016 and 286 in 2015. In 2009 –
again comparing apples to apples – the 3-month total was only 165.
If
you asked me 2 years ago about supply and demand I would have said most buyers
had an advantage because there were actually a few homes to consider in each
price range, and you were not in an absolute rush to offer on a home the same
day it was viewed.
Now,
most listing agents – including myself – are using a strategy that ensures the ‘market’
can have a chance to view the home. As an example, a new listing appears on a
Monday and an open house is scheduled for five days later on the Saturday. Then
and only after the home has been promoted well through www.realtor.ca
and many other sources, the seller will consider signed offers a couple days
later.
One
other important number from WIDREB’s report of March 2017 is that there has
been 536 listings so far this year, which is an increase compared to 504 in
2016 and 499 in the first three months of 2015.
As
home sellers see the average price of a detached home in Woodstock leap over
the $325,000 barrier (and higher), these home owners have decided now is a
great time to sell --- and it is in fact a wonderfully great time to sell.
There were 205 new listings in March of this year compared to 167 last year in
March.
I
usually post the year-end numbers dating back to 2005 here since statistics are
all about long term analysis. For example, climate or weather is determined
over a 30-year cycle. If that was the case now in real estate from Toronto
through to London along both the 401 and 403 corridors it would be sweltering
with no shade to be found anywhere.
Year-By-Year
Numbers (Totals in WIDREB)
By looking at the totals, keep in mind 2015 was considered a good
year. The 2016 year tops the remarkable 2005 when it was announced Woodstock
was to receive a Toyota manufacturing facility.
2016: 1545
2015: 1424
2014: 1180
2013: 1252 2012:
1066 2011: 1158
2010: 1216 2009: 1080 2008: 1176 2007:
1359
2006: 1278 2005:
1473 (Correct)
Average for past 12 years: 1267
OUTSIDE
OF OXFORD COUNTY
Also
in this report are links to updates in the Kitchener-Waterloo area, plus London
– St Thomas (LSTAR), and Toronto.
The
average price of a freehold home (not a condo) in Cambridge is now $509,000,
which is a 37% increase over the past 12 months.
In
the LSTAR region, saw 1,242 transactions in March of 2017, which is an increase
of 44% over 12 months earlier.
It
would appear no matter which indicator you look at, the market is extremely
active – average prices, total sales, and a low inventory of listings.
In
Brantford, there is a proposal from a residential development to convert golf
course land into a modest-sized condo neighbourhood. An update on that item is
also posted below.
Shelburne.
What about Shelburne -- a smallish community between Orangeville and Barrie where prices have also moved upward at a torrid pace: http://www.cbc.ca/news/business/i-m-shaking-my-head-hot-toronto-housing-market-driving-prices-up-in-small-town-ontario-1.4077117
Shelburne.
What about Shelburne -- a smallish community between Orangeville and Barrie where prices have also moved upward at a torrid pace: http://www.cbc.ca/news/business/i-m-shaking-my-head-hot-toronto-housing-market-driving-prices-up-in-small-town-ontario-1.4077117
LINKS:
http://www.heartfm.ca/news/local-news/another-record-setting-month-for-real-estate/
http://www.therecord.com/news-story/7225643-waterloo-region-housing-market-maintains-torrid-pace/
http://www.therecord.com/news-story/7225643-waterloo-region-housing-market-maintains-torrid-pace/
All items on this site are written by:
Mark Schadenberg, Sales
Representative
Senior Real Estate Specialist
(SRES designation)
Royal LePage Triland Realty
Independently Owned & Operated, Brokerage
757 Dundas St, Woodstock
(519) 537-1553, cell or text
Email: mschadenberg@rogers.com
Twitter: markroyallepage
Facebook: Mark Schadenberg, Royal LePage Triland
Discussion . . . Direction . . . Determination . . .
Destination
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