Market Update: WECAR Update For November 2022

As we enter the winter season the Windsor real estate market is due for its seasonal slow down. Money is being spent elsewhere and people who are looking for houses for sale in Windsor are thinking about the holidays and other discretionary spending. This, along with the continued Bank of Canada actions can be seen with the update provided from WECAR for November 2022.

In comparison to November of 2021, our region saw a decrease of 50.96% in the amount of homes sold this past November. 675 homes were sold in November 2021 versus just 331 this year.

Windsor Essex also saw a decrease in the average sales price of homes when looking at November of 2021 and November 2022. Last year the average sales price for the month was $567,708 and this year, it dropped 9.94% to $511,275. The average for the region has dropped nearly $212,000 from its peak in March at $723,739.

Finally, the area saw market activity drop 17.5% this month. However, for 2022 year-to-date, WECAR reports the area is still up 12.2% for market activity. As of the release from WECAR 1,247 properties were available in Windsor-Essex.

Chart Courtesy of WECAR; https://wecartech.com/wecfiles/stats_new/2022/nov/ | Some Content Courtesy of Melanie Borrelli, CTV News Windsor; https://windsor.ctvnews.ca/windsor-essex-home-sales-drop-50-average-price-down-10-1.6178843

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, Harrow, 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!