Q1 2023 Windsor-Essex Real Estate Statistics

For the first quarter of 2023 (January through March), the Windsor-Essex real estate market moved further into a buyer's market compared to the first quarter of the year in 2022:

• The number of homes sold was down 44%
  

• The number of listings decreased 8%
  

• The average price of a home decreased over 22%
  

• The percentage of listings that sold was down from 76% to 47% 
  

Q1 2023 Insights for Real Estate in Windsor and Essex County

To give you further insight into the real estate market conditions for the first quarter of 2023:

• Moving into spring, more homes are starting to hit the market. Listings were up in March over February, but down around 20% from March 2022
  
  
• With prices falling, more buyers are expected to get back into the market as this year goes on
  
  
• The majority of homes that sold were under the average sales price, showing that there are still a market for starter and more affordable properties
   
  
• The number of listings was down slightly, but the sales-to-listing ratio dropped significantly from Q1 2022, down from 76% to 47%. This trend suggests that there could be a greater selection of available homes for those looking to buy again and at lower prices than in recent years. 
  
  
• The average price of apartments/condominiums was also down, declining 37.93%.
  

Most Popular Housing Styles for Windsor-Essex County Homebuyers

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 2 storey homes, followed by ranches, raised ranches, 1 1/2 storey homes and bungalows.

Contact Royal LePage Binder for Help With Navigating the Housing Market in Windsor and Essex County

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!