For the fourth quarter of 2022 (October through December), the Windsor-Essex real estate market moved further into a balanced market, compared to the final quarter of the year in 2021:
The number of homes sold was down 26%
The number of listings increased 12%
The average price of a home increased over 11%
The percentage of listings that sold was down from 75% to 50%
To give you further insight into the real estate market conditions for the fourth quarter of 2022:
Bungalows continued to be the most popular style of home for buyers, followed by 2 storey homes, ranches, 1 1/2 storey homes, and raised ranches. The highest average sales price belonged to ranches followed by raised ranches, 2 storey homes, 1 1/2 storey homes and bungalows. Apartments and condominiums continued to be a popular choice for buyers this quarter, seeing an increase of over $57,000 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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