By Peter Daoust, Broker, Remax Advantage Realty Ltd., Brokerage. Here are the facts. 59 condos changed hands so far this year in Woodstock on the MLS system at an average price of $177,234 vs 70 condos for an average price of $145,575 during the same period of time in 2013. That’s a huge increase in price.
In Ingersoll the story is very much the same. 8 condos changed hands there on the MLS system so far this year at an average price of $187,936 vs $151,363 for the same period of time in 2013.
Further down highway #19 to Tillsonburg the picture is somewhat the same. 22 condos changed hands there so far this year on the MLS system at an average price of $157,619 vs $136,818 for the same period in 2013. (In Tillsonburg there are a great number of one floor retirement homes in senior communities in the $200,000 price range that pay annual association fees that are in effect “condo like” but not included in these subtotals. They have gone up in value too).What’s causing all of these price increases?
It’s the areas two auto plants. Period. It’s the jobs that they create. People are moving to the area from places like Kitchener,Waterloo and Cambridge which are only 55km away. The average price of a condo in Cambridge year to date is $242,181 ( on 338 sales) up from $234,126 during the same period in 2013 and in Kitchener/Waterloo the average MLS price year to date is $247,848 up from $245.011 for the same period of time in 2013. Why not cash in and buy something just down the highway for 30% less and in the process get something that is even nicer?
Woodstock has long being known as “the Dairy Capital of Canada” and sections of it’s downtown/north central core have a wonderful “Old World Victorian” feel to it which rivals that of the “Old Walkerville Area” in Windsor. Woodstock has beautiful parks, the beautiful greenery around Lake Pittock and a brand new hospital. Yes Stratford 44km away is also beautiful city attracting people from all over Canada and the United States but Woodstock is a beautiful city with new jobs. That’s the way we see it anyways!