Windsor-Essex housing market statistics for the first quarter of 2017 (January 1st to March 31st) are now available, and once again they show another period of significant growth in the Windsor-Essex real estate market. When compared to the same quarter in 2016, we can see an increase in the sales price, percentage of listings sold, number of sales, and more, all indicating a strong seller’s market.
Windsor-Essex real estate continues to offer a strong market for sellers, as shown by the fact that we have seen an increase of 13% in residential home sales compared to the same quarter last year. The average sale price of a home in Windsor is now up to $246,775 compared to $211,211 for the first quarter of 2016, an increase of 14.4%, giving homeowners an average equity gain of $35,564. More and more people are selling their homes as well, with an increase in residential property listings of 3.35%. Among the listings taken, 77% of them have sold, compared to 70% for the same period last year. All of this indicates that there is a definite demand for houses for sale in Windsor and Essex County, with sellers receiving multiple offers in many cases and getting above the asking price for their properties. We also see that more people are taking advantage of this seller’s market with the increased number of listings.
While all of these numbers indicate that the Windsor real estate market is getting more competitive for buyers, who are generally paying more than in previous years, Windsor-Essex real estate continues to have advantages over many other areas of the country. The average sale price of a home remains lower than the national housing average, and most homes being sold still fall below $220,000. The majority of homes sold also fall below the average sale price for the region as well. This means that, while prices are increasing and houses for sale in Windsor-Essex are selling faster, there are still some outstanding values to be found in a number of price ranges.
Whether you are looking to buy or sell your home, a real estate professional from Royal LePage Binder Real Estate can help guide you through the process and find out what the latest market statistics mean for you. Our experienced and knowledgeable sales representatives and brokers can guide you in these market conditions and help you make the most of this market if you are looking to sell your home, and can assist you in finding the right home and how to approach making an offer on the homes for sale in WIndsor-Essex if you’re looking to buy in this fast-paced and competitive real estate market. We want to provide you with the best real estate experience possible, no matter what you’re looking for in Windsor-Essex real estate.
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