November stats are in!
The number of active listings in Woodstock/Ingersoll continued to increase, showing an increase in supply for those looking to buy. The average sale price in Woodstock in November increased to $414,000 from Nov 2017; and the average year-to-date price increased to $385,211. It should be noted that there were 3 home sales in the $750K-$1 million range in November, which skewed the average sale price slightly higher than normal. I would use the year-to-date average as a more accurate reflection.
It was still a strong market with the list to sale ratio in Woodstock at 98%, and Ingersoll at 100%.
We have noticed that higher-end homes, those priced over $500,000 have started to sit on the market longer (closer to 6 weeks), and those under $500,000 are still moving quickly. We have also noticed a drop of almost 50% from 2016 of new build permits issued, which are typically homes over $400K. What does this mean? It could be a good opportunity for those looking to upgrade their homes to sell quickly while having more choice & negotiating room with their purchase.
Have questions about this market for you? Send me a text at 519-536-5360 or email me at firstname.lastname@example.org we can talk!