The market statistics for residential real estate in Windsor and Essex County are now in for the second quarter of 2017 (April 1st to June 30th), and they continue to show significant growth in a number of categories throughout the region. When compared to the same time period last year, we can see a substantial increase in the average sale price, percentage of listings sold, number of homes sold, and home equity gain, all of which is indicative of a strong seller’s market.
The strong market for sellers for Windsor-Essex real estate can seen through an 8.4% increase in the number of home sales compared to the same quarter in 2016. The average sale price of a home in the Windsor-Essex region has increased to $267,715, up 19.1% over the previous year, giving homeowners an average equity gain of $43,564. New listings were down slightly compared to 2016, with 6,418 new listings representing a 1.1% decrease from the same time last year. These numbers show that there is a continuing demand for houses for sale in Windsor and Essex County, with sellers receiving multiple offers in many cases and the sales price continuing to go up. Of note, the average sale price of apartments and hi-rise condominiums has increased substantially over 2016 as well, standing at $181,914 compared to $167,586 last year.
While sellers are reaping the benefits of high demand and multiple bids for homes in the area, a slight majority of the homes that have sold still fall under the average sales price for the region, and the average sales price for Windsor and Essex County remains well below the national housing average. This means that there are still great values to be found when searching through the homes for sale in Windsor-Essex.
Whether you are looking to buy or sell a home, I can help you navigate the Windsor-Essex real estate market. I will guide you through these sales conditions and help you make the most of your next real estate transaction. I can take you through finding the right homes for sale and help you with the process of making offers in this competitive marketplace for buyers, and can help you maximize your return and handle all of the details when you’re ready to sell your home. To get more information or to get started, contact me today or call me at (519) 818-8989 to get answers to any questions you may have.