Oxford County:
Sales of individual homes across Oxford County are up 16.5%
or 45 homes ( 317 homes versus 272) after the first 4 months
of 2013. Prices are continuing to rise as well. The average
home now sits at $234,782. This represents an increase of
5.3% on a year to date basis with the average home owner
making $11,482 improvement in value. Homeowners are
consistently getting 97% of asking price and it now takes 81
days to sell the average home. This year 64% of all homes
listed for sale are selling during the listing period.
sales for Oxford County. Sales of individual homes in the
City are also up to a lesser degree by 4.3% or a total of 8
homes (191 homes versus 183). Prices are also up 4.2% or
$9,358 across the City ( $229,426 versus $220,068) for the
same four month period. The average time it takes to sell a
home in Woodstock now sits at an average of 75 days down
from 87 days. Homeowners are getting 97% of asking prices
in spite of prices rising. Inventories continue to be lower than
the first 4 months of 2012. There is a 62% chance of getting a
sale during the listing period. This is up nicely from 55% a year
ago.
of individual homes here are up 48.6% or 18 units on a base of
37 homes. On the other hand prices have remained relatively
flat decreasing marginally by 1/3 % to $706 ($196,239 average).
Part of the reason for the drop is an increase in inventory in
Ingersoll specifically from a total of 174 homes up from 151 for
the same 4 month period a year earlier. The inventory is now
back to the same level as it was a year earlier which should
result in upward pressure on prices. Home owners were
getting 96% of asking prices during this period compared to
98% a year ago. In 2012 during the first 4 months homeowners
had a 34% chance of getting their home sold during the listing
period. This year that number has increased to 49% and will
continue to rise.
Contributing to this low level of sell through was the fact that
179 homes expired unsold in the first 4 months of 2012. This
year this number is down to 27 homes. As long as inventories
remain low, prices will rise.
opportunities for First Time Home Buyers to enter the market.
Mortgage rates combined with Rental Rates continue to make
this the perfect time to get into the market or to make the move
up. If prices continue to climb, because demand continues to
outweigh supply, this remains an excellent time to make that
"Move Up" move...and to make money on this investment over
the long term.
Pick up the phone or email us and we'll be pleased to provide
you with a personal market update on what's happening in your
specific neck of the woods....
or 45 homes ( 317 homes versus 272) after the first 4 months
of 2013. Prices are continuing to rise as well. The average
home now sits at $234,782. This represents an increase of
5.3% on a year to date basis with the average home owner
making $11,482 improvement in value. Homeowners are
consistently getting 97% of asking price and it now takes 81
days to sell the average home. This year 64% of all homes
listed for sale are selling during the listing period.
Woodstock:
The City of Woodstock represents 51.2% of the reportedsales for Oxford County. Sales of individual homes in the
City are also up to a lesser degree by 4.3% or a total of 8
homes (191 homes versus 183). Prices are also up 4.2% or
$9,358 across the City ( $229,426 versus $220,068) for the
same four month period. The average time it takes to sell a
home in Woodstock now sits at an average of 75 days down
from 87 days. Homeowners are getting 97% of asking prices
in spite of prices rising. Inventories continue to be lower than
the first 4 months of 2012. There is a 62% chance of getting a
sale during the listing period. This is up nicely from 55% a year
ago.
Ingersoll:
Ingersoll is enjoying similar growth for the first 4 months. Salesof individual homes here are up 48.6% or 18 units on a base of
37 homes. On the other hand prices have remained relatively
flat decreasing marginally by 1/3 % to $706 ($196,239 average).
Part of the reason for the drop is an increase in inventory in
Ingersoll specifically from a total of 174 homes up from 151 for
the same 4 month period a year earlier. The inventory is now
back to the same level as it was a year earlier which should
result in upward pressure on prices. Home owners were
getting 96% of asking prices during this period compared to
98% a year ago. In 2012 during the first 4 months homeowners
had a 34% chance of getting their home sold during the listing
period. This year that number has increased to 49% and will
continue to rise.
Contributing to this low level of sell through was the fact that
179 homes expired unsold in the first 4 months of 2012. This
year this number is down to 27 homes. As long as inventories
remain low, prices will rise.
Conclusions:
Clearly all markets, especially Ingersoll, remain excellentopportunities for First Time Home Buyers to enter the market.
Mortgage rates combined with Rental Rates continue to make
this the perfect time to get into the market or to make the move
up. If prices continue to climb, because demand continues to
outweigh supply, this remains an excellent time to make that
"Move Up" move...and to make money on this investment over
the long term.
Pick up the phone or email us and we'll be pleased to provide
you with a personal market update on what's happening in your
specific neck of the woods....
No comments:
Post a Comment