As we move into December and towards the winter market, November showed more signs of the effect of the Bank of Canada decisions, including the largest to date decrease.
The Windsor-Essex County Association of REALTORS® have released their market update for November 2024 and the market showed a continuation of the trends we saw in October.
The average sales price of a home in Windsor-Essex was up 10.37% in November versus November of 2023. This year the average price was $584,452 compared to $529,538 last year. Year-to-date, the average sales price of a home is $577,867 a 3.43% increase compared to 2023 when the average was $558,682 at the same point.
Reported sales for the month are also up this November compared to November 2023. 370 homes were sold in Windsor-Essex this November, representing a 9.47% increase over the 338 homes sold in November of 2023. That brings the year-to-date total of homes sold in Windsor 4806, compared to the 4670 homes sold through the same time last year, a 2.91% increase.
Market activity remains strong in the region. November 2024 saw 846 home listed for sale at time of reporting. This is 4.57% increase over the 809 homes listed for sale in November of 2023. When looking at the year-to-date info, the strong trend continues with an increase of 11.29%, 11,139 in November 2024 versus 10,009 in November 2023.
The $420,000-$549,999 and $550,000-$699,999 price bands continue to dominate the market with 109 and 102 sales respectively in November. Those price bands remain the dominant bands year-to date data with 1,218and 1,147 units sold this year.
The Bank of Canada has one more rate announcement before the end of 2024 coming on December 11, 2024.
Source: Windsor Essex County Association of REALTORS®
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/nov/
