Residential Sales: Residential Sales were up almost 6% from the same month last year and 8.77% annually. The market is responding to steady interest and sales prices!
Homes Sold Under and Above the Median Price ($550,000): For the first time in over a year the over $550,000 sold more homes than the under $550,000 market. We’ve seen growth over the last few months. This bodes well for the Spring Market generally.
Average Sales Price, both Annually and Monthly: Average Sales Price has been climbing since December due to less supply and great weather. Expect increases to soften over the next few months as a greater supply of listings comes into the Market in March and April.
Most Popular Style of Home: While Bungalows and ranches were the homes of choice this month every style of home, except raised ranches were up in average price.
Monthly Residential Sales %: February’s Monthly Residential Sales compared to last year were up by 5.84%, much the same as last month. Two months in a row of positive growth!
Annual and Monthly Sales/List Ratio: Annual Sales/List Ratio climbed slightly to 48% due to greater sales and continue to in the balanced market range of 40 – 60%.
Residential Listings: Residential Listings were up almost 5% from last year and ever so slightly from January. A combination of steady and predictable prices and unchanged interest rates are helping both Sellers and Buyers to make decisions.
Active Listings: Active (available) listing continued to grow in February to over 1000 homes which is about a 2-month supply. Unlike other areas of Ontario Windsor-Essex continues to have a good supply of homes available to buyers.
Average Day on the Market: Average Days on Market dropped in February to 30 days as we experienced an uptick in sales for the month.
Monthly Condominium Sales: Monthly Condominium Sales of 58 units were almost identical to January and very much in line with sales since September of last year.
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:
