Windsor-Essex home prices increase and listings drop
WINDSOR, ONT. -- The average home sales price last month increased by over $80,000, according to the Windsor-Essex County Association of Realtors.
The report says the average sales price for July 2020 in Windsor-Essex was $427,107. The average sales price for July 2019 was $342,418.
“In the 32 years in the history of realty that I’ve been in it’s never been this good,” said Gordon Todorovic of Remax Care Realty in Windsor.
He says the COVID-rebound is in full swing.
“We sold a house on Turner almost $100,000 over asking in a matter of days,” he said. “We sold one, a raise ranch or bi-level in Tecumseh — $122,000 over asking price.”
The total of monthly listings was down 11 per cent at 906, compared to 1,021 in July 2019. At the time of the report, there were 947 available listings.
“We’ve got the same number of listings out in the month of July, but year to date we’re still down significantly,” WECAR president-elect Damon Winney said.
With fewer listings so far this year, that’s leading to increased bidding wars as buyers from out of market shake off COVID concerns and purchase in Windsor-Essex.
“What is important to consumer out there is to understand that these numbers whilst they may seem high for the local market for people who have lived in Windsor for some time, we’re still playing catch-up to some of the larger metropolitan areas and so we’re very affordable down here,” Winney said.
For sellers like Christina Gaceca, staying with family will help give her time to find a new home as she looks to sell in a heated market.
“I’m shocked,” she said. “I signed the contract last Wednesday evening. I had traffic as of Thursday morning and here I am one week after Thursday and I have three offers waiting for me — I’m blown away by this."
The association says 686 properties were sold in July 2020, up five per cent compared to July 2019 with 653 properties sold.
The most popular style of homes sold this month are: bungalow (124), two storey (122), ranch (119), 1 ½ storey (82), raised ranch (75).