Two months of 2024 are officially in the books and the trends we saw in January are continuing in the the Windsor real estate market. With the March announcement from the Bank of Canada of another rate hold and the spring market just around the corner, buyers are turning up their home search for Windsor homes for sale and sellers are starting to prepare and list their homes.
For February 2024, the Windsor-Essex County Association of REALTORS® reported the average sales price of a home in Windsor-Essex was $576,546. This represents a 10.14% increase over January 2023 when the average price of a home in the region was $523,461. As an indicator of our market, consider our highest average price in 2023 was in May at an average sales price of $602,591.
Sellers continue to enter the market as the region saw an increase of 3.94% in market activity. 659 listings were available in February 2024 vs 634 in February 2023.
For buyers, the affects of the Bank of Canada decisions show their comfort level increasing with an increase of 5.84% in home sales in February 2024 vs February 2023, with 326 homes being sold in the former and 308 in the latter.
The $550,000-$699,999 price band saw the most activity in February 2024 with 96 units sold. The $420,000-$549,999 price band saw the second most activity with 68 units sold in February.
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/feb/
