June 2017 stats have just been released by the Windsor Essex County Association of Realtors.
In June 2017 we saw a positive increase in the Residential Market Activity (Listings) at +8.76% compared to June 2016. This is also a positive increase over the previous month of May 2017. What’s this mean? More listings have hit the market, more people are trying to sell. Great news for buyers!
On the other hand is the Residential Sales. In June 2017 we saw an increase of just 1.53% over June 2016. Statistically speaking, June has been the month this the highest number of sales. The important bar to look at in the graph is the Sales of June 2017, compared to May 2017, which we saw Sales DROP approximately 7.5%. Will May be the month with the highest number of Sales? We will have to wait until we see the July stats to really tell if this is an indication of the market slowing down.
The average Residential price continues to climb, mainly due to the number of higher price homes that have been selling. We are seeing record number of homes priced over $420,000 being sold in our region. In June 2017 there were 101 homes sold over $420,000, with 52 of those being over $500,000.
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 0.08%, with Sales UP 6.79%, and the AVERAGE PRICE UP 19.44%