We are now through April here in Windsor-Essex and as we head into the summer months, we are seeing the market activity increase. The Bank of Canada announced another rate hold this April and some buyers who have postponed their home search for Windsor homes for sale are awaiting their June announcement as some experts forecast what could be the first rate cut since the bank began raising rates to control inflation.
The Windsor-Essex County Association of REALTORS® reported the average sales price of a home in Windsor-Essex remained just about the same as April of 2023, with only a 0.47% increase. This April we saw an average of $581,194 versus an average of $578,499 April of 2023. Sales continue to be down compared to last year with April 2024 reporting 7.76% less sales versus April 2023. Last year 490 sales were reported and this year that number is 452 for the month of April. However, year-to-date total sales in Windsor remain up, 1.86%, with 1535 sales through April. The year-to-date average sale price also remains up over this point last year, 2.54%, at $568,421 compared to $554,326 last year at this point.
As mentioned, market activity for the region took off in April, with an increase of 22.54%. This measures the amount of listings at time of reporting, with 1,082 active compared to 883 in April of 2023. Year-to-date activity remains up as well versus last year with a reported increase of 8.49%. Through April 2023 the area had 2991 listings versus 3245 through this April.
Two price bands were far and away the busiest again in April. In the highly competitive $420,000-$549,999 price band there were 123 properties sold. In the $550,000-$699,999 price band there 109 properties sold. The next closest price band for comparision was the $360,000-419,999 with 76 units sold. Year-to-date, these two bands represent the most homes sold as well, with 389 units sold in the $550,000-$699,999 band and 384 in the $420,000-$549,999 band.
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/apr/
