Taking a look at the Real Estate Market in Windsor Essex, for December 2023
Residential Sales: Residential sales were down from both last month and last year. Many sellers are retreating from the market and waiting for Spring.
Homes Sold Under and Above the Median Price ($550,000): The year-long trend continues with the lower market still holding firm at 2/3 of total market. We had 11 homes over $1M sell in December.
Average Sales Price, both Annually and Monthly: The annual average price peaked in May and has hovered around $550,000 since then.
Most Popular Style of Home: Prices of bungalows and ranches increase while the rest of the style of home dropped in price. They also continue to dominate the sales market.
Monthly Residential Sales %: Residential sales dropped in September and have continued to remain behind last year due to interest rates and a continuing inflationary economy.
Annual and Monthly Sales/List Ratio: Annual Sales/List Ratio pushed up slightly in December but had a big jump in the monthly rate, mostly due to less listings for December.
Residential Listings: Residential Listing dropped substantially in what we will call a “seasonal adjustment” as many removed their homes from the market during the winter season.
Active Listings: As listings dropped in December and more Seller removed their homes, we can see the slight drop in Active Listings and virtually mirrors last year. As Seller adjust to the season expect this to fall again.
Average Day on the Market: With less buyers buying it’s not unusual for Average Days on Market to increase as it has in December.
Monthly Condominium Sales: Monthly condo sales dropped as well but still outpaced last December.
Royal LePage Binder is committed to providing content and data illustrating the rapid changes occurring in the #yqg market, as shown in the below downloadable PDF:
