Q4 2022 Windsor-Essex Real Estate Statistics

For the fourth quarter of 2022 (October through December), the Windsor-Essex real estate market moved further into a balanced market, compared to the final quarter of the year in 2021:

• The number of homes sold was down 26%
  

• The number of listings increased 12%
  

• The average price of a home increased over 11%
  

• The percentage of listings that sold was down from 75% to 50% 
  

Q4 2022 Insights for Real Estate in Windsor and Essex County

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

• Higher interest rates, including the potential for further increases, is keeping some buyers out of the market
  
  
• The majority of homes that sold were above the average sales price, showing that there are still properties that are drawing interest on the hihger end of the market and some that are attracting multiple bids
   
  
• Residential listings remained strong with 11,588 taken so far this year compared to 10,379 at the same point last year. The sales-to-listing ratio dropped significantly from Q4 2022, down from 75% 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, ranches, 1 1/2 storey homes, and raised ranches. The highest average sales price belonged to ranches followed by raised ranches, 2 storey homes,  1 1/2 storey homes and bungalows. Apartments and condominiums continued to be a popular choice for buyers this quarter, seeing an increase of over $57,000 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 us today! Whether you're buying, selling, or investing, we can put our knowledge and experience in the local housing market to work for you to help you achieve your real estate goals.