2024 is officially underway and January provided some interesting trends in the the Windsor real estate market as we move through the winter season. With the January announcement from the Bank of Canada, of rates holding and the expectations of decreases in the near future, the spring market may arrive earlier as buyers begin their home search for Windsor homes for sale once again.
The Windsor-Essex County Association of REALTORS® reported an average sales price of a home in Windsor-Essex in January was $534,655 an increase of 3.37% from January 2023 when the average price of a home in the region was $517,187. As an indicator of where we are versus 2023 as we move into 2024, the peak average sale price of a home was in May with an average sales price of $602,591.
The decisions by the Bank of Canada continue to promote comfort to those looking to enter the market as sellers as market activity was up 4.11% in January with 633 new listings versus 608 in January 2023.
For buyers, they are feeling safer in the market as well with WECAR reporting 276 homes sold in January, an increase of 5.34% over January 2023 when they reported 262 homes sold in the month.
The $420,000-$549,999 and $550,000-$699,999 price bands were the most active with 75 sales and 68 sales in each band respectively reported in January 2024.
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!
Stats courtesy Windsor Essex County Association of REALTORS®; https://wecartech.com/wecfiles/stats_new/2024/jan/
