In the Media: Local Market Update with Damon Winney

With the month of June firmly in the rear view the Windsor real estate market statistics have been released. For the month of June the average sale price for a home in the Greater Windsor Area once again decreased. The average sale price locally in June was $555,544 compared to $571,943 for April and $563,409 for May.

Jump Realty’s own Broker of Record and President of the Windsor Essex County Association of REALTORS® (WECAR) Damon Winney helped explain some of the changes. “The market right now is improving for buyers. It’s a little refreshing that buyers are getting the opportunity to pause and look more thoughtfully and make a better offer. Sellers, though, are still doing great, but the expectations are mellowing a little compared to the past few months.” He continued explaining that the equation of supply and demand is one of the driving factors in easing the recent rise in home prices. There were 1,143 listings in June compared to 943 in April. The number of listings for the year is also up nearly 28 per cent.

People are still contacting their local Windsor REALTOR® and more may see this as a good time to enter the market and start looking for houses for sale in Windsor or any of our surrounding areas. Winney went on to say, “People are also feeling more comfortable. The economy is beginning to open up. There’s more confidence in the future (in regards to the COVID-19 pandemic easing).”

While Winney doesn’t forecast a significant drop in the market in the near future, there should be more stability and forecastable growth in the market versus the rapid expansion the region saw. Winney wrapped things up saying “There’s still a lot of major infrastructure projects going on that will continue for a few years,” Winney said. “There’s solid economic growth. People are still coming here from outside Essex County. Though we don’t think so, we’re still a good value compared to other places in the province.”

Photo and Story Credit: Waddell, D. (2021, July 8). Local housing market still hot but average sale prices drop slightly. windsorstar. https://windsorstar.com/news/local-housing-market-still-hot-but-average-sale-prices-drop-slightly

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