| The number of homes sold through the MLS® System of the Woodstock Ingersoll Tillsonburg & Area Association of REALTORS® totaled 175 units in June 2023. This was a small gain of 3.6% (six sales) from June 2022. |
| Home sales were 16.8% below the five-year average and 19.6% below the 10-year average for the month of June. |
| On a year-to-date basis, home sales totaled 1,019 units over the first six months of the year. This was a decline of 11.5% from the same period in 2022. |
| “Sales are up compared to June 2022, while new listings remain lower year over year but above the seasonal average. As a result, overall inventory has now stabilized in line with historical averages,” said Anthony Montanaro, President of the Woodstock Ingersoll Tillsonburg & Area Association of REALTORS®. “However, the average price has experienced a decline compared to the same period last year. These trends indicate balanced market conditions, offering equilibrium between buyers and sellers.” |
| The average price of homes sold in June 2023 was $651,781, a decrease of 11.2% from June 2022. |
| The more comprehensive year-to-date average price was $658,019, down by 13.8% from the first six months of 2022. |
| The dollar value of all home sales in June 2023 was $114.1 million, a decrease of 8.1% from the same month in 2022. |
| The number of new listings fell 14.9% from June 2022. There were 353 new residential listings in June 2023. |
| New listings were 9% above the five-year average and 15.7% above the 10-year average for the month of June. |
| Active residential listings numbered 460 units on the market at the end of June, decreasing by 2.7% (13 listings) from the end of June 2022. |
| Active listings were 25% above the five-year average and 8.9% below the 10-year average for the month of June. |
| Months of inventory numbered 2.6 at the end of June 2023, down from the 2.8 months recorded at the end of June 2022 and above the long-run average of 2.4 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity. |
