Market Update: April 2023 Update from WECAR
Spring is officially here and so is the spring Windsor real estate market. Buyers looking for Windsor homes for sale continue to shop with an eye for a summer move. With the decision from the Bank of Canada to hold rates, activity has remained steady in the region. While the month-to month trends in 2023 illustrate the market picking-up, the overall performance versus last year is still stark.
WECAR reports that compared to April of 2022, our region saw the average price of a home decrease by 16.1% or $110,698 in dollars. We also saw a decrease in the number of sales from 605 in April of 2022 to 459 this past month. Activity also remains down from 2022, a drop of 20.66% compared to last year.
When looking at the market in comparison to March of 2023 and the anticipated beginning of the spring market, market activity remains steady while the sales are starting to increase with the busy time approaching, and a slight increase in average sale price versus the month prior.
Courtesy: WINDSOR-ESSEX COUNTY ASSOCIATION OF REALTORS® Residential Stats President's Report for April 2023; https://wecartech.com/wecfiles/stats_new/2023/apr/
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