Market Update: Windsor Real Estate Market For July 2023
As we work our way through the summer we are starting to see effects of the traditional summer slow down. Some looking for houses for sale in Windsor have decided to focus on the summer and things like vacations. As we saw in June 2023, the effects of the Bank of Canada rate increases continue to have its effect on the market as well. With another increase possibly rumoured in September, the market remains in flux.
Here is what the Windsor-Essex County Association of REALTORS® reported for July. WECAR reports that the region saw a small increase in sales for July. In terms of data, 438 properties were sold in July 2023, a slight increase from the 432 properties sold in July of 2022. In regard to market activity, the number of listings for the region is down to 1,049 in July 2023 from 1,317 in July 2022, a 20.35% decrease. The average sale price of a home remained fairly constant year over year this July with a decrease of only 0.96%. For July of 2023 the average sales price was $554,277 and the average sales price in July 2022 was $559,648. Finally for July 2023, the majority of homes, 131 in total, were sold in the $420,000 - $549,999 price band. The price distribution curve can be seen below.
Courtesy: WINDSOR-ESSEX COUNTY ASSOCIATION OF REALTORS® Residential Stats President's Report for JULY 2023; https://wecartech.com/wecfiles/stats_new/2023/jul/
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