Woodstock Real Estate- Why You Should Buy Home in Woodstock:
Woodstock is a city located in Ontario, Canada. Woodstock has around 60% single-detached homes. The remaining properties consist mainly of small apartments and townhouses. There are many housing sizes available in this city, from lofts to homes with four or more bedrooms.
Two-thirds of residents own their homes, while one-third rent. Around 30% of properties in the city were built before 1960, and most of the buildings remaining were built between the 1960s-80s.
Transportation in Woodstock:
A car is the best mode of transportation in this area. Parking is simple. Woodstock is difficult for pedestrians to navigate because it is hard to fulfill most of your daily needs without a car.
Services in Woodstock:
Woodstock homes are easy to reach from primary schools. High schools, on the other hand, are more difficult to find and require a longer walk. Both public and private schools are available at the primary level. Woodstock’s homebuyers will be able to walk to around 20 grocery stores for their meals. For those who enjoy nearby cafes and restaurants, there are also some opportunities.
Environment to Live in Woodstock Real Estate:
Woodstock is a great place for people who enjoy a peaceful atmosphere. There are a few noisy sections near Highway 403, Highway 401, or any of the railway lines.
What is the Woodstock-Ingersoll & District Real Estate Board Report on MLS Home Sales:
In June 2021, 186 homes were sold through the MLS, System of the Woodstock–Ingersoll & District Real Estate Board. This was a modest increase of 1.6% (three sold) over June 2020.
The June home sales were 4.4% higher than the average five-year average and 11.9% higher than the average 10-year monthly average.
Home sales for the first six months of 2018 totaled 996 units. This represented a 37.4% increase over the same period in 2020.
Alison Porter, president of Woodstock-Ingersoll & District Real Estate Board said that “market activity in our area cooled slightly from the recent white-hot levels.” While MLS® home sales were modestly higher than their long-term averages for the past four months, new listings fell back for only the fourth time in four. This resulted in a decrease in inventory, which in turn led to tighter market conditions and a new record for the average price. On the other hand, the MLS®, HPI composite benchmark price fell for the first time since early 2019. It is not yet clear if these pricing divergence trends are indicative of future changes or temporary relief for buyers in the region. We will be monitoring any indicators that could indicate a shift in local market conditions closely.
The MLS®, Home Price Index (HPI), tracks price trends much more accurately than average or median price measures. In June 2021, the overall MLS®, HPI composite benchmark price was $599,000. This is an increase of 45.2% compared to June 2020.
On a year-over-year basis, the benchmark price for single-family homes rose by 44.9% to $617,700 in June. The benchmark price of a townhouse/row unit was $391,000. This is 48.1% higher than the previous year.
In June 2021, the average home price was $665,953, a 36.8% increase over June 2020.
Comparing to 2020’s first six months, the more extensive year-to-date average prices rose 39.8% to $649.527.
In June 2021, the dollar value of all home sales was $123.9 Million. This is 39% more than in 2020. This was also a record for June.
From June 2020, the number of new listings decreased by 4.6% (10 listings). In June 2021, there were 207 new listings for residential properties. This was the lowest June listing count in five years.
The number of new listings was 8.5% lower than the average five-year and 1.8% less than the average 10-year for June.
At the end of June, there were 126 active residential listings. This is a significant decline of 29.6% compared to June 2020. Even though active listings are at an all-time low for June, inventory is almost twice what it was just a few months ago.
Active listings were at 54.3% of the average five-year rate and at 71.5% of the average 10-year for June.
At the end of June 2021, inventory was 0.7. This is down from 1 month to June 2020. It also falls below the long-run average for this time of the year of 2.9 months. The number of inventory months is the time it would take to sell existing inventories at current sales activity.