Taking a look at the Real Estate Market in Windsor Essex, Owner and Broker of Record Frank Binder sits down with our host, Dom Papa from WE Digital Productions, to chat about the latest trends and more for July 2022.
This episode is packed full of info about the rapid changes in the #yqg market. RLB is committed to providing content and data to help illustrate the current market and zero in on specific changes that are tantamount to any Buyer/Seller decision.
Topics in this discussion include:
*Residential unit sales continued a downward spiral in July dropping 23.81% as buyers reacted to increased interest rates and budgetary pressures due to higher inflation costs. $500,000 Mtg costs $400+ today compared to the beginning of year.
*The Average Annualized Sales Price dropped to $662,323 c/t $674,637 recorded a month prior.
*With the supply side of residential listing still showing growth, we should expect prices to continue to change over the next few months.
*Sales/List ratios continue to drop with the annualized rate now at 51% which is down slightly from last months rate of 55%.
*Buyers will continue to pause and reconsider financial positions before buying a home. That and the summer vacations, which have made a comeback(!) are slowing buyer demand.
*Originally aired LIVE ON FACEBOOK on August 11, 2022*
