Q2 2022 Windsor-Essex Real Estate Statistics

For the second quarter of 2022 (April through June), the Windsor-Essex real estate market started to move away from being a seller’s market while still maintaining demand for the available homes. Compared to the second quarter of the year in 2021:

• The number of homes sold was down 9%
  

• The number of listings increased 25%
  

• The average price of a home increased over 24%
  

• The percentage of listings that sold was down from 75% to 55% 
  

Q2 2022 Insights for Real Estate in Windsor and Essex County

To give you further insight into the real estate market conditions for the second quarter of 2022:

• Sales dropping can be attributed in part to the increase in the interest rate and buyers having to exit the market because they no longer qualify for a mortgage that would allow them to purchase a home that meets their needs.
   
  
• The majority of home sales were over the $550,000 mark, with 1,071 homes selling over that number and 753 selling under that price point.
   
  
• Residential listings remained strong with 6,408 taken so far this year compared to 5,131 at the same point last year. The sales-to-listing ratio dropped significantly from Q2 2021, down from 76% to 55%.  A greater supply of available homes along with potentially fewer buyers in the market at the moment could start to affect the average sales price as the year goes on.
  

Most Popular Housing Styles for Windsor-Essex County Homebuyers

Bungalows continued to be the most popular style of home for buyers, followed by 2 storey homes, ranches, raised ranches, and 1 ½ storey homes. The highest average sales price belonged to 2 storey homes, followed by ranches, raised ranches, bungalows, and 1 ½ storey homes. Apartments and condominiums continued to be a popular choice for buyers this quarter, seeing a significant increase in their average sales price compared to the same time last year.

Contact Royal LePage Binder for Help With Navigating the Housing Market in Windsor and Essex County

If you’re looking to buy or sell a home in Windsor, Tecumseh, LaSalle, Lakeshore, Amherstburg, Essex, Leamington, or Kingsville, contact Royal LePage Binder Real Estate today. We have five offices conveniently located across the area, and have over one hundred agents and fifteen teams who are ready to help you achieve your real estate goals. Let us put our knowledge and experience in the Windsor-Essex real estate market to work for you!