My monthly reports includes sales totals from Tillsonburg, Guelph, Oakville and other locations
By
Mark Schadenberg
Statistics
are a set of numbers which are interpreted, so a decrease in unemployment
numbers means more people are working, and strong real estate sales translates
into a flourishing economy in many many ways.
The
amount of good news in the real estate sector continues to outweigh anything
negative. For example, in London the building stats indicate that new home
starts continue to be strong. The number of new detached homes marked the best
July in 10 years there.
Locally,
the Woodstock-Ingersoll market has seen an increase in prices over 10% since
July of 2016, but this is where analysis of the numbers becomes interesting as
the average price of a home in July of 2017 was lower than it was one month
earlier. Also, the market witnessed a large increase in the spring of 2016, so
you could accurately say that the average price has swung upward by about 22%
in the past 18 months, but actually 25% in the past 17 months.
In the WIDREB region,
year-to-date home sales numbered a record 1,109 units over the first seven
months, up 22.5% from the same period last year.
“The story so far
this summer is that sales are still going very strong, just not as strong as
they were over the record-smashing first five months of the year,” said Lesley
Michie, president of the Woodstock-Ingersoll & District Real Estate Board
in the association’s monthly press release.
According to this WIDREB
press release, the average price of homes sold in July 2017 was $333,591,
rising 10.5% from July of 2016. However, the year-to-date average though was
$344,209, up 23.6% compared to the same month last year.
New listings at
WIDREB numbered 161 units in July 2017, up 22% from July of 2016.
I haven’t seen the
City of Woodstock report on building permits for the first 6 months of 2017,
but many projects and subdivisions are on-going and many are start-ups in the
past 3 months – townhouses at Athlone and Finkle, subdivision along 11th Line in city’s northwest, a second section of townhouses on Riddell at the old
farm market location, rental townhomes at Devonshire and Falcon, two new
apartment buildings slated for Dundas and Clarke, and on-going arrival of
bricks-and-mortar houses at Alberni Road, Neighbourhoods Of Devonshire, Sally
Creek, Havelock Corners and Boot Hill.
County Road 11 subdivision (The Hartley Farm)
Alberni Road, Woodstock
Many other building
projects are underway or nearing completion – Gerry’s Truck Centre on Parkinson
Road, large addition at Toyota Boshuko, and an extension to Southside School.
Long-term prognosis
is also exciting as the city prepares to annex acreage from Norwich Township
for commercial / industrial purposes.
Southside School addition
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Across Canada the CMHC's annualized estimate of housing starts
rose to 222,300 in July, the second-strongest reading of the past year.
Ontario starts rose slightly to 79,200, with a year-to-date
average of 80,000. BMO economist Robert Kavcic said it is one of the strongest
housing construction markets in 20 years with multi-family starts dominating.
“Canadian homebuilding activity remains robust, supported by a
spurt in population growth,” said Kavcic.
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Many
interesting links are noted below including updates of real estate stats in Tillsonburg
area, London, Simcoe, Brantford, Guelph, Sarnia, Oakville (End of June numbers
for Oakville-Milton) and even Thorold.
When
you begin considering entering the market to buy or sell or both, contact me
first for insight into market conditions and the overall process of home
purchasing
LINKS:
Thinking real estate?
Call Mark Schadenberg !
Email: mschadenberg@rogers.com
Nice blog thanks to Author
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