September of 2016 actually well below average, but year still on pace to set new record
Average sales price of a home is $338,368
By
Mark Schadenberg
The
numbers are in.
September
was significantly lower in sales results versus September of 2016 as only 83
units sold last month for a 28.4% reduction.
Look
under the press releases tab at www.widreb.ca (Woosdstock - Ingersoll district) as
the overall report for the first 9 months of 2017 still indicates a good year –
1,283 transactions for a 10% increase over last year’s record numbers.
The
first 9 months of this year compared to recent years:
Year Total Sept Sales Year Total Sept Sales
2017 83
2016 118 2015 114
2014
123 2013
127
2012
99 2011
118
2010
110 2009
102
2008
124 2007
105
The
year-end totals in recent years:
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.
As you can
see, the first 9 months of 2017 already tops the average of the past dozen
years (1,283 compared to 1,267).
With homes
selling quickly (low days-on-market results), inventory or active listings
continues to be low, but even without that theory the numbers of available homes
to purchase are still low, so prices have moved upward. Here’s the prose from
the WIDREB press release:
The average price of homes sold in September 2017 was
$338,368, rising 20% from September 2016. The year-to-date average price was
$342,419, up a similar 21.2% compared to the same month last year.
New listings
numbered 144 units in September 2017, down 7.1% from September 2016. Active
supply is still trending near all-time lows, although it is up from even lower
levels at this time last year. There were just 302 active residential listings
on the Board’s MLS® System at the end of September 2017, up 19.4% from levels
at the end of September 2016 but still below the same time in all other years.
It would appear though that 2017
will surpass the total year-end numbers of 2016 just as last year topped both 2015
and the previous record set in 2005.
London – St Thomas
In
the LSTAR geographical area, the 9,000 barrier of transactions was surpassed during
October, and this also marked the third consecutive September in which more
than 800 transactions were reported.
The
average sale price over both London and St Thomas and in all styles of homes
was $318,347.
The
St Thomas average sale price is just over $270,000
The
area’s association of Realtors press release is on their website, and it notes
that condominium sales increased in September, but the totals for detached homes
was down by almost 10%.
There
are more than 1,700 Realtors in LSTAR making it among the top 15 associations
in Canada.
Both charts above depicted London - St Thomas board stats
Guelph
I
include the Guelph area in my monthly report this time as it’s always a strong indicator
as a zone between the GTA and the Woodstock area. If sales are slipping in
Guelph, they will likely be trending down in Woodstock – Ingersoll.
The
accompanying chart will note how prices have decreased in the Guelph area
market, which includes all of Wellington County.
Here
is an excerpt from the Canadian Real Estate Association website of www.crea.ca
According to statistics provided by the MLS® System of the
Guelph and District Association of REALTORS®, home sales numbered 211 units in
September 2017. This was down 23.6% from the record September last year.
Owen Sound Area
Not
every district is re-writing the record books as Grey-Bruce has seen sales totals
more than 25% lower in September of 2017 as compared to 12 months earlier, but
as has been seen in other regions it’s low inventory that seems to be writing
the story.
Steve
Dickie, president of the Realtors Association of Grey Bruce Owen Sound, said:
“Last year was the extreme year, and now we are kind of seeing a return to not
normal levels, but reasonable levels. It is just a factor of the low inventory.”
The
total of 2406 transactions is almost tied with the first three-quarters of
2016.
The
average price of homes sold in September was $284,249, up 9.6 per cent from
last year, while the year-to-date average price at the end of September was
$290,293, which is up 12.2 per cent from the first three quarters of 2016.
LINKS:
www.widreb.ca
www.widreb.ca
August
Reports:
http://business.financialpost.com/news/economy/bank-of-canada-hikes-rate-read-the-official-statement
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
Picture of myself with Royal LePage president Phil Soper
to mark my sales results of 2015
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