For the third quarter of 2022 (July through September), the Windsor-Essex real estate market moved further into a balanced market. Compared to the third quarter of the year in 2021:
The number of homes sold was down 19%
The number of listings increased 18%
The average price of a home increased over 16%
The percentage of listings that sold was down from 72% to 50%
To give you further insight into the real estate market conditions for the third quarter of 2022:
Bungalows continued to be the most popular style of home for buyers, followed by 2 storey homes, 1 1/2 storey homes, ranches and raised ranches. The highest average sales price belong to 2 storey homes, followed by ranches, raised ranches, bungalows and 1 1/2 storey homes. Apartments and condominiums continued to be a popular choice for buyers this quarter, seeing an increase of over $20,000 in their average sales price compared to the same time last year.
If you’re looking to buy or sell a home in Windsor, Tecumseh, LaSalle, Lakeshore, Amherstburg, Essex, Leamington, or Kingsville, contact Royal LePage Binder Real Estate today. We have five offices conveniently located across the area, and have over one hundred agents and fifteen teams who are ready to help you achieve your real estate goals. Let us put our knowledge and experience in the Windsor-Essex real estate market to work for you!
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