Average Sale price, down 1.4% to $375,183
Median Sale Price, down 4% to $369,900.
Number of Homes for sale, Up 34.2% to 98 Homes for Sale
# of Homes Sold, equal to last year, at 43 Homes sold.
Some have been calling for a correction for a while, and some have continually pointed to the cooling in the Toronto market as evidence of impending DOOM in Woodstock! Don't be silly. For almost 24 months, buyers and agents have been whining about "not enough houses to sell" and "getting outbid" on all of our offers. For the first time in 15 months we have seen a negative number on average pricing. Let's celebrate! A more balanced market is healthy!
The numbers also do not show the fact that anyone looking for a property under $400,000 are still facing likely multiple offer situations, with 14 out of 28 homes selling AT or OVER asking price.
Now that the government has decided to HOLD interest rates, with doubts about any increases this year, I expect to see low / manageable growth going forward, with continued pressure in the "starter home" market under $400,000, and a bit of a buying opportunity for those looking for a higher end home.