Market Update: July 2022 Report from WECAR

Following up on the trends we saw in June 2022, the Windsor real estate market continues to show signs of softening. Both buyers looking for Windsor homes for sale and sellers adding their places to the list of houses for sale in Windsor have felt this trend as the Bank of Canada continues to take action.

The Windsor-Essex County Association of Realtors (WECAR) released its July 2022 report and it continues to illustrate the changes in our market. July 2022 saw 393 properties sold in the area, a 40.99% decrease from the July 2021 total of 666 properties sold. This marks the fifth consecutive month that saw a drop in the number of units sold.

The average sales price in the region does continue to trend up, but the pace has decreased. For July 2022 the average cost of a home was $557,989, a 2.1% increase from July 2021. This is a drastic decrease from the June 2022 versus June 2021 increase of 9.2%.

Market activity remains trending up for Windsor-Essex. July 2022 saw the region have 1,305 homes available for sale, this is a 23.8% increase from July 2021 that saw 1.054 homes available.

You can see the full report from WECAR for July 2022 by CLICKING HERE.

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!