Market Update: Average Sale Price Hits $600,000

In what will come as no surprise to buyers in the Windsor real estate market, the hunt for Windsor homes for sale can be a difficult situation to navigate. The market remains brisk, meaning things happen quickly. Those working their Windsor real estate agents have seen the average sale price of houses for sale in Windsor continue to climb and increase.

The average monthly sales price of a Windsor-area home climbed over $61,000 that past January in comparison to the same month last year. In the process the average sale price of a home in Windsor has eclipsed $600,000 for the first time.

Jump Realty’s Broker of Record Damon Winney called the numbers “eye-popping”. He went on to say “The demand is insatiable right now. We’re still seeing it in February. It’s going to be another very strong month. We expected the numbers to rise, but not a gain of this size.” He added that major drivers to the increase are considerable investment by people from outside the area who will rent out properties, strong population growth, and a desire to beat projected interest rate hikes.

The increase in new construction is also helping drive the average sale price up. The cost of land, material, and labour are all increasing as well, and that means these new build homes can start at $800,000 plus. The January market 143 homes sell above $700,000. The market remains firmly in the hands of the sellers and forecasts expect nothing to change significantly in the near future.

Here at Jump Realty our agents will give you honest advice on what course of action is best for you in their professional opinion and will always put taking care of your best interests first! With offices in Windsor, Tecumseh, Kingsville, LaSalle, and Chatham, no matter where you are, a Jump agent is ready to help. Please contact us for any housing needs and let us give you a better real estate experience!