Average home prices continue to slowly fall in Windsor Essex County, but many other stats show a resilient market! Let’s break it down.
According to WECAR, the monthly average sales price fell 1.98% compared to October 2022. This number has been dropping since May 2023, when it was its highest this year - $602,591. This gradual decrease is typical – prices get more competitive when there are fewer buyers on the market, which happens as cold weather rolls in.
Average days on the market and number of active listings have dropped slightly due to the increase in residential sales. There were 395 residential sales in October 2023 and 277 in September 2023 – it’s great to see this increase as we head into the colder months!
Over 60% of the homes sold in October 2023 were under the median sales price of $550,000 – lower prices are clearly a priority to buyers right now. Bungalows were the most popular type of home sold last month and their average sale price was $431,180.
The team at Royal LePage Binder carefully monitors local real estate statistics – if you have any questions about what these stats mean to you, give one of our talented agents a call!
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.
