A look at the Real Estate Market in Windsor Essex County, for JULY 2024
Residential Sales: Residential sales were steady, only slightly up from last month but roughly the same as last year.
Monthly Residential Sales %: Monthly Residential Sales as a percentage was exactly the same as July 2023.
Homes Sold Under and Above the Median Price ($550,000): While the under median priced homes still were greater at 54%, they no longer dominate the market as above median price increased slightly this month.
Average Sales Price, both Annually and Monthly: Average Sales price was slightly up in July mostly due to additional sales of the upper market. With additional listings there will be increased pressure on prices in the next few months.
Most Popular Style of Home: While bungalows and ranches still have the greatest number of sales, 2-storey and ranch style homes saw increased prices while the rest of the categories dropped in price.
Annual and Monthly Sales/List Ratio: Monthly Sale/List Ratio’s dropped for the third month in a row continuing the trend since March dropping the annual sales/list ratio to its lowest point this year.
Residential Listings: Residential listings continue to increase in July up 20% over last year! If this continues, we may see increased pressure on average sales prices over the next few months.
Active Listings: Active listings have continued to climb since January to 1911 homes available for sale in August which represents over 3.5 months’ supply. This has never been better for buyers!
Average Day on the Market: Average Days on market returned to normal levels for July due to a higher volume of listing and unchanged demand. We may see increases in days on market due to higher-than-normal inventory of homes.
Monthly Condominium Sales: Condominium sales continue to be strong with an annual average price of $410,620 up 2.9% c/t July 2023 with 23 DOM.
Royal LePage Binder is committed to providing content and data illustrating the rapid changes occurring in the #yqg market, as shown in the below downloadable PDF:
