Taking a look at the Real Estate Market in Windsor Essex, Owner and Broker of Record Frank Binder sits down with our host, Arms Bumanlag to chat about the latest trends and more for April 20.
April home sales for YQG dropped 18.9 % compared to the same month last year. With interest rates affecting Buyer’s decisions and inflationary pressures on all households it should not be surprising that negative pressures have come to bear on our Real Estate Market. Residential listings showed continued strength with 1074 listings taken, a 12.58% increase over the 954 listed last year in April. The month ended with MLS residential inventory at a very high 726 units, this may put pressure on prices going forward. With greater supply and lessening demand over the last few months the Average Annualized Sales Price dropped to $698,582 c/t $700,453 recorded a month earlier. While it’s still a 31.54% gain over last year, it is important to note that the monthly average was $692,759 which may indicate further drops to come.
Originally aired, May 12, 2022, LIVE On Facebook.
