May has come and gone here in Windsor-Essex and as we are firmly into the summer months. The Bank of Canada has another announcement scheduled, this one much anticipated with talks of a rate decrease. Those in the middle of their home search for Windsor homes for sale are anxiously awaiting the decision to see how they will proceed. This may be one factor that caused the May 2024 trends here locally.
The Windsor-Essex County Association of REALTORS® have released their stats for May and it is a mixed bag.
Starting with the average sales price of a home in Windsor-Essex, it is down 4.14% from May 2023, $575,014 this past May versus $599,826 May of last year. Year-to-date, the average sale price is up 0.64%, $570,586 in May 2024 versus $566,955 in May 2023.
Sales were down 19.86% this past month versus May 2023. 464 homes were sold this past month compared to 579 homes sold in May 2023. Sales year-to-date also remains down, 2.3%. 2038 houses have been sold so far this year compared to 2086 at this point last year.
On the flip side, market activity, or the number of home listed at time of reporting, for the region remained high in May with an increase of 11.91%. 1,240 active at reporting in May 2024 compared to 1,108 at reporting in May 2023. Activity also remains up year-to-date with an increase of 9.83%. Through this May the area has seen 4502 listings versus 4099 through May of 2023.
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/may/
