Q3 2022 Windsor-Essex Real Estate Stats

For the third quarter of 2022 (July through September), the Windsor-Essex real estate market moved further into a balanced market. Compared to the third quarter of the year in 2021:

• The number of homes sold was down 19%
  

• The number of listings increased 18%
  

• The average price of a home increased over 16%
  

• The percentage of listings that sold was down from 72% to 50% 
  

Q3 2022 Insights for Real Estate in Windsor and Essex County

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

• The higher interest rate remains among the factors contributing to keeping buyers out of the market
  
  
• The majority of homes that sold were below the average sales price, showing that buyers are finding great opportunities in the Windsor-Essex market
   
  
• Residential listings remained strong with 9,686 taken so far this year compared to 8,225 at the same point last year. The sales-to-listing ratio dropped significantly from Q2 2021, down from 72% to 50%.  A greater supply of available homes along with potentially fewer buyers in the market at the moment could continue 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, 1 1/2 storey homes, ranches and raised ranches. The highest average sales price belong to 2 storey homes, followed by ranches, raised ranches, bungalows and 1 1/2 storey homes. Apartments and condominiums continued to be a popular choice for buyers this quarter, seeing an increase of over $20,000 in their average sales price compared to the same time last year.

Contact Beaumont & Associates 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 Beaumont & Associates today. Our experienced team has helped countless clients buy and sell homes across the region, and we're here to maket your next real estate transaction easier and more successful.