The August 2017 stats have just been released by the Windsor Essex County Association of Realtors.
In August 2017 we saw decline in Sales for the 2nd month in a row. Sales were down 3.3% from the previous month, and down 2.93% compared to August 2016. Listings in August 2017 were down slightly from the previous month, which is typical for this time of year, but up 3.11% compared to August 2016.
More Listings and Less Sales could be in indication of the market beginning to change. While we are still a long way from a balanced market, it can change quickly due to other factors, such as rising bank interest rates.
The average Residential price Year-to-Date has dropped a few thousand over the past 3 months but seems to be holding steady in the $265,000 range.
The Bungalow/Ranch is still the most popular style of home being sold.
YEAR TO DATE
Year-to-Date stats show Market Activity (Listings) are UP 1.12%, with Sales UP 4.24%, and the AVERAGE PRICE UP 16.57%