Windsor–Essex Residential Market Update

Here is what we saw in the Windsor–Essex residential market in November:

• Average sale price this month: $552,391

• Year-to-date average price: $571,518, only 1.13% lower than this time last year

• New listings: down 3.26% month over month, but still up 12.21% year-to-date

• Sales: down 6.8% month over month and 2.28% year-to-date

• Most active price range: $450,000 to $650,000

• Sale-to-listing ratio: about 38% of listings are selling in a given period

Months of inventory:

• Single-family homes: 4 months of inventory

• Townhomes: 5.2 months of inventory

• Condos: 12.2 months of inventory

This tells us single-family homes are in a balanced-to-slightly-buyer-leaning market, while condos are firmly in buyer territory.

Days on market continue to rise as buyers wrestle with confidence, job security, and normal seasonal slowdowns. The good news is that rates are still relatively low. If you are holding off and waiting for prices to drop, you may be risking a future rate increase that could easily absorb any “savings” on price in your monthly payment.

If you are in a position to buy now, this is a good window to take advantage of more choice, more negotiating power, and still-favourable rates.

If you are thinking of selling, the right pricing and presentation strategy can still get you a strong result in this market.

📲 Remember, a conversation costs you nothing. We are happy to walk you through the numbers and help you set up a plan that fits your goals.

Reach out to The Dan Gemus Real Estate Team Ltd., Brokerage for all of your home buying and selling needs in Windsor and Essex County.  Call us: 519-566-5565 and learn more about our team online: www.DanGemus.com