While on the surface some figures may seem worrisome, the real estate market in Windsor and Essex County remains strong. Let’s break it down!
The number of homes sold under $550,000 is almost unchanged from May, showing strong interest in lower-priced homes. The slight hike in interest rates did impact the sales of homes over $550,000, but this was expected. The sales of homes over $1M remained strong, with 32 homes sold in June!
While most styles of homes increased in average sales price, two-storey homes dropped by $100,000 in June. In comparison, one-and-a-half-storey homes’ average price only dropped minimally. This is a great metric considering a sale or purchase; for example, this market would be a great opportunity to buy a two-storey home, but not necessarily to sell one.
As real estate agents always say, there is no guarantee and there are many factors that affect how long a home is on the market. However, the spring market has proved productive, and homes are selling at a noticeably faster pace.
There are so many factors to consider if you’re trying to make a real estate decision. Don’t act blindly! Get in touch with one of our talented agents to ensure you’re making an informed decision!
Looking for an experienced REALTOR ® that specializes in real estate across Windsor and Essex County? At Royal LePage Binder Real Estate, we are focused on helping you unlock your future.
