Q1 2023 Windsor-Essex Real Estate Statistics

For the first quarter of 2023 (January through March), the Windsor-Essex real estate market moved further into a buyer's market compared to the first quarter of the year in 2022:

• The number of homes sold was down 44%
  

• The number of listings decreased 8%
  

• The average price of a home decreased over 22%
  

• The percentage of listings that sold was down from 76% to 47% 
  

Q1 2023 Insights for Real Estate in Windsor and Essex County

To give you further insight into the real estate market conditions for the first quarter of 2023:

• Moving into spring, more homes are starting to hit the market. Listings were up in March over February, but down around 20% from March 2022
  
  
• With prices falling, more buyers are expected to get back into the market as this year goes on
  
  
• The majority of homes that sold were under the average sales price, showing that there are still a market for starter and more affordable properties
   
  
• The number of listings was down slightly, but the sales-to-listing ratio dropped significantly from Q1 2022, down from 76% to 47%. This trend suggests that there could be a greater selection of available homes for those looking to buy again and at lower prices than in recent years. 
  
  
• The average price of apartments/condominiums was also down, declining 37.93%.
  

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 2 storey homes, followed by ranches, raised ranches, 1 1/2 storey homes and bungalows.

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 our team today and let us put our knowledge and experience in the Windsor-Essex real estate market to work for you!