In July, we saw an increase in the sales percentage over the same time last year. This is the number of sales versus the number of listings on the market. Let’s dig into July’s market statistics to get a bigger picture!
Even though sales dropped from 525 homes in June, to 438 in July, overall sales are up 1.39% compared to July 2022 because the number of active listings last month were down 20%. This likely is because there are fewer homes on the market, so the ones that are listed are selling well.
The average home price remains right around the $550,000 mark – homes priced below that are doing great in the current market. They make up about 60% of the total home sales! The average home price has dipped 0.96%, likely because the $1 million+ market has slowed – only 22 homes at this price point sold in July. When considering styles of homes, the only type that didn’t see a decrease in sales were two-storey homes – they saw a slight increase.
It is difficult to predict exactly how long your home will be on the market. There are so many factors to consider – every home and neighbourhood is different. On average, homes right now remain on the market for approximately 22 days.
It can be hard to wrap your head around these numbers – don’t be afraid to speak to a professional. Talk to one of our knowledgeable and dedicated agents today!
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.
