June 2016 stats have just been released by the Windsor Essex County Association of Realtors. Last month we finally saw the monthly listings increase to +10.23%, which is up from +1.65% in May. This is a good sign that more listings are coming on the market, but its still not enough to start to balance out the current sellers market. Sales are holding steady in the +18.71% to +20.4% range. The Year-to-Date Residential Average Sale Price continues to climb up to $224,151 from 196,973 in 2015 (ytd). Year-to-Date thats a 13.80% increase in Residential Average Sale Price.
What’s this all mean? We are still experiencing a shortage of resale inventory with plenty of buyers and multiple offers. While we did see listings increase, it is still a red hot sellers market.
You can view the full report here: WECAR President’s Report for June 2016