The statistics for the first quarter of 2018 (January 1st to March 31st) for real estate in Windsor-Essex County are in, and they show that the market has slowed down somewhat compared to the same quarter in 2017. When we look at the numbers for this quarter compared to the first quarter of last year, we see that the number of homes sold decreased by 25%, while the number of listings is down 18%.

The average sale price of the homes in Windsor and Essex County was $275,954, up 12% compared to the previous year. This shows that Essex County continues to be a seller’s market and that there is still strong demand from buyers.  With fewer listings available now than in the first quarter of 2017, the homes on the market are bringing in multiple offers in many cases, helping to bring up the average sale price. The majority of homes sold during the first quarter of 2018 (59%) were sold for below the average sale price, indicating that there are still more affordable options available in this market even with such strong demand for properties. 

Bungalows and ranches continued to be the most popular style of home with an average sale price of $253,103, with two storey homes coming in second and having an average sale price of $358,311. Apartments and condominiums showed a strong increase over the same time last year, reaching an average price of $204,408.

Whether you're interested in buying or selling a home anywhere in Windsor-Essex County, we can help you discover what these market conditions mean for you and how they could impact your next real estate transaction. We can take you step-by-step through the entire real estate process, making buying or selling your home easier and ensuring that you have the right information and advice in order to make an informed decision. If you're looking to sell a home, we can provide you with the right information about improvements to make, guide you on pricing your home properly with a free home evaluation, and will market your home to give it a high level of exposure and attract potential buyers. If you're looking to buy a home, we will help you discover all of the options that match the needs of you and your family, incluidng price, location, features, and more, and will work on your behalf to get you the best price.

To learn more about how we can help you make the most of your next real estate transaction, contact us today, or call Mike at 519-980-2897 or Amy at 519-980-2898. We would love the opportunity to put our extensive experience and knowledge of real estate in Windsor-Essex to work for you.

Video Courtesy of - Royal LePage Binder Real Estate