Local real estate market freezes in January.
Much like the weather in January, home sales turned ice cold.
Only 41 units sold in the Woodstock-Ingersoll District last month, a huge 41% drop from January of 2013.
President of the local real estate board, William Cattle says the frigid temperatures likely kept potential home buyers indoors. They're hoping that will lead to some pent up demand leading to a boost in sales when spring finally arrives.
Average sale price also dropped in January to $210,937, which was down slightly from last year.
The active supply of homes on the local market is at its lowest level in 8-years with 419 active residential listings on the MLS system at the end of January.

UPDATE: Woodstock Police Charge a Youth in Bomb Threat
Theft in Delhi Under Investigation
Ingersoll Candidate Profile - Louie D'Orazio
Teen Charged with Impaired in Norfolk County
Canada Day Celebrations in Oxford Centre
Upcoming Bridge Closure for Otterville
Conseil Scholaire Viamonde Candidate Profile - David Paradis
OPP Respond to Fatal Collision in SWOX
Behind the Scenes: Bird Set Free
Public Information Centre Announced for Homelessness Service Centre
Conservation Authorities to Consolidate
Woodstock Applying for Funds for New Rec Facility
Woodstock Candidate Profile - Wes Mazur
Woodstock Casino Celebrates 25 Years
Woodstock to Honour Local High School Students
Low Water Levels in Woodstock Navy Club Pond
Tillsonburg Candidate Profile - Katherine Englander
A Busy May for Norwich Firefighters
Innerkip Lions Weekend Fast Approaching
Woodingford Lodge Launches Ostomy Support Group
Comments
Add a comment