Windsor-Essex Market Update For November 2023

November has come and gone and officially ushered in the cold weather. Entering December means the Windsor real estate market is well into the traditional period where the market slows as buyers looking for Windsor houses for sale and sellers shift

Our October update, showed that even with the October decision to hold rates by the Bank of Canada, buyers are continuing to wait and see if there is any steadying of rates over the end of 2023 and into 2024 before resuming their home search.

November 2023 Windsor Real Estate Market Stats

The Windsor-Essex County Association of REALTORS® reported that for the month of November the average sales price of a home in Windsor-Essex saw an increase of 3.32% from November 2022. Last year the average price was $512,151 and this November saw an average price of $529,143. While we did see an slight increase the Bank of Canada's actions can be reflected when comparing back to the highest average monthly price for 2023 which was in May with an average sales price of $602,591. The average cost of a home year-to-date is remains down with another month showing a double digit decrease of 10.26%, $558,449 compared to $622,275 last year.

WECAR also reported a total of 319 homes were sold in November. This was an 8.86% decrease versus November 2022 when their was 350 sales reported. For 2023 as a whole, Windsor-Essex has seen 4661 homes sold year-to-date, another double digit decrease, 16.05%, versus November last year when 5552 sales were reported at this point.

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, Chatham, and Leamington, 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!