Q2 2020 Real Estate Statistics for Windsor-Essex

The second quarter of 2020 (April through June) is now complete, and as we look back the numbers for this period we can see the effect that the COVID-19 situation has had on the Windsor-Essex real estate market. Overall, we can see that while the number of sales and listings are down, prices remain strong and there continues to be interest in the homes for sale in our region.

Home Listings and Sales Both Down

The number of home sales in Windsor-Essex for the second quarter was down 32% compared to the same period last year. There were 1,334 homes sold in Q2 this year compared to 1,976. The number of listings also decreased by 33%, down from 2,949 in the second quarter of 2019 to 1,984 this past quarter. With the uncertainty that has come with the COVID-19 pandemic, we can see that fewer sellers are listing their homes, and fewer buyers are moving ahead in the current market.  

Home Prices Remain Strong

Although the total sales and listings are down, we can see that there is still demand for the properties that are available, as shown by the 10% increase in the average price. Overall, 68% of listings sold in Q2 2020, up 1% from the same quarter last year. Despite the pandemic, many buyers still either need to or choose to buy during this time, and that’s reflected in these numbers.

Most Popular Styles of Homes

Bungalows and ranches remained the most popular home styles for buyers this quarter, followed by 2 story homes, raised ranches, and 1 ½ story homes. Apartments and condos continued to attract attention on the market as well, and they showed an average price increase of almost $30,000 compared to the same period last year.

Learn How Royal LePage Binder Can Help You Buy or Sell Your Next Home

Even with more businesses opening back up in the area, these can still be exceptional and challenging times to try to buy or sell a home in - let the team at Royal LePage Binder help make that easier for you. Our team continues to offer great options for conducting your real estate transaction online including virtual tours and digital paperwork, and we’re there to make sure you can buy or sell your home under the current conditions. To find out more, contact us today at any of our locations across Windsor and Essex County.
 

 

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