Market Update: Windsor-Essex Seeing A “Normalizing”

It is no secret to those in the Windsor real estate market and working with a Windsor real estate agent that the market has been a challenge to navigate. Those searching for houses for sale in Windsor have had to act quick in order to find a home. Many felt they couldn’t keep up with the costs of Windsor homes. The market that was once seen as a heavy sellers market is now starting to swing back to the buyer ever so slightly.

 

Our own Broker of Record Damon Winney said this about the market, “There's been a shift in the market from what we've been used to the past I'll say two-three years.” Home sales were down 18.9% this past month versus this time last year. A slowing down in the market can sometimes lead to buyer’s remorse. Winney says you need to think about the bigger picture. “When there's a large number on the line and if you are playing it by the minute and the market changes one percent or two percent against your favour it's not good. If you are a homeowner you've got a tremendous amount of equity that you didn't have at this time last year and ever from 2020 to 2021.” The key here is the market is normalizing and not crashing as some seem to always predict. Winney looks at the projects coming to Windsor as a key indicator for the region. “The bridge, the hospital, the battery plant, hydro lines etc. that are proposed. I think we have a really good story here in Windsor in regards to future success.”

Info courtesy of CTV News: https://windsor.ctvnews.ca/housing-market-in-windsor-essex-normalizing-real-estate-insiders-say-1.5911305

 

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!




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