Sales statistics for the Windsor-Essex region for the fourth quarter of 2016 (October 1st to December 31st) are now in, and they show that this was yet another strong period of growth in this region and that we are seeing even more of a sellers' market when compared to the previous year.
Sellers continue to do very well in the Windsor-Essex real estate market, as shown by the increase in residential sales of 10% when compared to the same time period in 2015, and an increase in the average sale price of 12.47%, translating into an average home equity gain for sellers of just over $25,000. More people are putting their homes up for sale as well, with a rise in residential listings of 2% over the same time in the previous year. We've also seen 73% of listings selling, which is up from 67% for the fourth quarter of 2015. This means that the demand for houses for sale in Windsor and Essex County is growing, and this provides even more opportunities for sellers.
While increased sale prices mean that sellers are reaping the benefits of the current market conditions, the Windsor-Essex real estate market remains attractive for sellers due to average sale prices that are very affordable compared to the national average. With the number of listings increasing, buyers also have more options on the market than in recent years to find the home that's right for them. More homes are selling below the average sale price than above it, which can indicate that there are still some very affordable options out there for those looking to buy a home in a number of different price brackets.
Whether you are looking to buy or sell a home in Windsor-Essex, Royal LePage Binder Real Estate can guide you through the entire process from start to finish. Our expeirenced and knowledgeable sales representatives and brokers can help you discover all of your options when it comes to houses for sale in Windsor and Essex County, and will work to provide you with the best experience available when buying or selling your home. For more information and to get started, contact us today!