As the market for real estate in Windsor and Essex County continues forward into 2019, now is a great time to take a look at how the housing market in our region ended last year with the statistics for the fourth quarter (October 1st to December 31st) of 2018. With strong prices for sellers and a larger inventory compared to last year for buyers, Windsor-Essex real estate continues to have a great deal to offer.
When we compare the end of 2018 to the previous year, we can see that while the number of home sales has shown a small decrease of 2%, the average sale price continues to be noticeably higher than the year before,. The average sales price of the homes in Windsor and Essex County saw a 10% increase in Q4 2018 compared with the same quarter in 2017. The average price of a home in Windsor-Essex was $300,663 in the fourth quarter of 2018 compared to $273,335 in the same quarter of 2017, showing that this continues to be a strong seller’s market.
The number of residential listings in Windsor-Essex was up 5% last quarter compared with the same time period the year before. With a greater number of homes coming on the market over this quarter compared to last year, this remains a strong time to search for your next home.
Bungalows and ranches remained the most popular style of home in Windsor and Essex County, and had an average sales price of $246,082. The second-most popular style of home was two storey homes, and these houses had an average sales price of $365,668. Of note, apartments and high-rises continued to see an increase in their average sales price, which was up to $198,972 (up over $7,000 compared to the same time in 2017),
Whether you’re ready to buy or sell your next property, this is the perfect time to talk to Royal LePage Binder about what these market conditions mean for you and to get started on your next real estate transaction. We can connect you with a member of our sales team who can walk you through the entire real estate process, help you make the most of your existing home when you’re selling and work to get you the best value for your dollar when you’re buying. Let us know more about the homes for sale in Windsor-Essex that you’re interested in, and let us connect you with the right properties that fit your needs. To get started, contact us today or visit us at any of our seven convenient locations across Essex County.