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 September 2022.
The discussion includes:
• Number of Residential Listing in 2022: Residential listings continued to moderate with 885 residential listings taken c/t last month’s 1,057 and for the first time was a drop of 14.99% c/t September/21’s listing count of 1041.
• # Of Active Listings End of Current Month: September’s MLS residential inventory available continued to decline to 1457 c/t last month’s 1595 home (3.5-month inventory supply).
• Number of Residential Sales in 2022: 403 residential homes were sold in September c/t 393 on August.
• Units Sold By Price Range: Homes under $550,000 dropped to 272 from 302 last month, while home sales over $550,000 bounced back a bit to 160 from 132 in September.
• Annual Average Sale Price: With greater supply and current constraints on demand, the Average Annualized Sales Price dropped to $637,642 in September c/t $648,215 recorded a month earlier. Year to Year gains continues to erode to a new low of 16.64% from last September.
• Monthly Average Sale Price: the monthly average increased slightly to $523,928 in September c/t a low of $520,634 in August which is our first sign of some stability.
• Year to Date Sales/List Ratio: Sales/List ratios remained static with the annualized rate staying at 50%. However, the monthly rate increased to 46% from last month’s 37%.
• Most Popular Style of Homes: We continue to see bungalows and ranches still outselling 2 storey and 1 ½ storey homes with the ever-popular raised ranch outselling ranches.
*Originally aired LIVE ON FACEBOOK on October 12, 2022*
Royal LePage Binder is committed to providing content and data illustrating the rapid changes occuring in the #yqg market, as shown in the below downloadable PDF:
**click on top right arrow to download**
