The first quarter of 2021 (January through March) showed that the Windsor-Essex real estate market remained extremely strong. Demand for houses continued to be high as sales and prices were both up considerably from the same time last year. Meanwhile, the number of listings remained even with the first quarter of 2020, with the relatively low number of listings combining with the significant interest in the available properties creating a strong seller’s market.
The number of residential properties sold in the first quarter of 2021 was up 30.8%, finishing at over 1,600 sold for the quarter. Prices were up significantly as well - the average price of a home in Windsor-Essex was over $511,000 for the quarter, up 37.6% from Q1 2020. With the increased demand for the available properties and the number of listings sitting almost even with the previous year, 84% of listings sold compared to 64% in the first quarter of last year.
Bungalows remained the most popular style of home for buyers in Windsor-Essex, followed by 2 storey homes, ranches, 1 ½ story homes and raised ranches. Of note, the average sale price of apartments and condominium units continued to climb, sitting at over $264,000 for the quarter.
Are you looking to buy or sell a home? Talk to Royal LePage Binder Real Estate about how we can help you achieve your real estate goals. With over a hundred agents, fifteen teams and five offices across the region, we know the local market and have the experience to guide you through your next purchase or sale of a home. To get started or to find out more, contact us today.