Market Update: June 2023 Windsor Real Estate Market
Summer is in full swing and so is the Windsor real estate market. Similar to May of 2023, the monthly trends locally show slight market gains as buyers continue to shop for homes for sale in Windsor, but versus the 2022, the market continues to lag slightly. Let’s take a look at some of the key stats released by the Windsor Essex County Association of REALTORS® for Windsor-Essex.
WECAR reports that sales were down 26.06 percent for June. In raw data, June 2023 saw 525 properties sold, a slight decrease from 559 properties sold in June of 2022. Similar dips were also seen in the number of listings as well as the year-to-date sales, with decreases of approximately 27 and 26 percent respectively. One number that did not see a drop like the others was the average sale price of a home. That price actually stayed fairly steady with just a 3.75 percent decrease comparing June of 2022 and 2023. June 2023 saw an average home price of $582,245 and in June of 2022 that figure was $604,947.
Overall, as the Bank of Canada continues to implement and discuss future rate increases, the market remains fluid.
Fig 1. Courtesy: WECAR; https://wecartech.com/wecfiles/stats_new/2023/jun/
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