Courtesy: Royal LePage Binder Blog
While on the surface some figures may seem worrisome, the real estate market in Windsor and Essex County remains strong. Let’s break it down!
The number of homes sold under $550,000 is almost unchanged from May, showing strong interest in lower-priced homes. The slight hike in interest rates did impact the sales of homes over $550,000, but this was expected. The sales of homes over $1M remained strong, with 32 homes sold in June!
While most styles of homes increased in average sales price, two-storey homes dropped by $100,000 in June. In comparison, one-and-a-half-storey homes’ average price only dropped minimally. This is a great metric considering a sale or purchase; for example, this market would be a great opportunity to buy a two-storey home, but not necessarily to sell one.
As real estate agents always say, there is no guarantee and there are many factors that affect how long a home is on the market. However, the spring market has proved productive, and homes are selling at a noticeably faster pace.
There are so many factors to consider if you’re trying to make a real estate decision. Don’t act blindly! Get in touch with our team today to make sure you're making an informed decision!
