Courtesy: Royal LePage Binder Blog
Below is a look at how the local real estate market for Windsor and Essex performed in March 2024, including sales numbers, most popular home styles, number of available listings and more. Have questions about real estate in Windsor-Essex? Talk to Beaumont and Associates today.
Residential Sales: Residential Sales dropped over 10% this month as inflation continues its negative effect on Buyers.
Homes Sold Under and Above the Median Price ($550,000): Home below median outpaced those above but we note increase strength of the upper market. 15 homes sold for over $1M.
Average Sales Price, both Annually and Monthly: Bungalows outsold all other styles of homes followed by 2-stories, ranches, raised ranches and one and one-half storey.
Most Popular Style of Home: While Bungalows and ranches were the homes of choice this month every style of home, except raised ranches were up in average price.
Monthly Residential Sales %: While residential sales were down in March, sales are still up for the year by 2.6%.
Annual and Monthly Sales/List Ratio: Annual Sales/List ratios have remained static for the last year and is holding firm at 49% within a balanced market.
Residential Listings: Residential Listings are up about 2% over last year but expect this to increase as we head into the Spring Market.
Active Listings: The supply of active listings grew to 1240 homes or about a 3-month supply.
Average Day on the Market: Average Days on Market dropped slightly with steady buyer demand and listing supply.
Monthly Condominium Sales: Monthly condo sales bounced up to 83 units for March bucking the trend set last September.
Our team is committed to providing you content and data that illustrates the rapid changes occuring in the market for real estate in Windsor and Essex County. The PDF below shows how the market for Windsor-Essex homes for sale has performed in recent months:
Learn more about what these market conditions mean for your real estate goals, and about how we can help you buy or sell your next home, by contacting Beaumont and Associates today!
