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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.
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