The final round of 2017 stats have just been released by the Windsor Essex County Association of Realtors.
December is usually one of the slowest months of the year for new listings and sale. Stats show an 18.03% drop in sales compared to December 2016, but the Average Sale Price for the month skyrocketed UP to $300,314. Up 36.47% compared to December 2016. The FIRST time Windsor/Essex has seen a monthly average price hit $300,000. Less homes sold under $340,000, and an increase in homes sold over $340,000 with 26 of them over $500,000. (see “High End Homes” chart). Bumping up the monthly average sales prices included 5 luxury home sales. 1 over $1mil, 1 sale over $1.15mil, 1 sale over $2.2mil, 1 sale over $3.2mil, and 1 sale over $4.2mil.
Overall Year-To-Date we saw Listings up just 0.54%, with Sales up just 1.05%. Our Average Sales Price for 2017 was $265,750, up 17.19% from 2016.
At the start of 2017, the RE/MAX Housing Market Outlook 2017 projected that our average sales price could rise to $237,791. We now see that was a very conservative projection as we ended at $265,750. The 2018 RE/MAX HOUSING MARKET OUTLOOK REPORT is projecting our average sales price could rise to $286,999 this coming year.