Is the market really slowing down? The October 2017 stats have just been released by the Windsor Essex County Association of Realtors, and the Sales numbers have made a big rebound.
The number of Sales in October were up 14% compared to the previous month, and up 10% compared to October 2016. In September we saw a significant drop in the number of Sales, which i believe was due to school starting, a major automotive industry shut down was approaching, and we also had a significant rain storm that resulted in a lot of property damage and cleanup. Now that everyone has settled, the numbers have started to pick up again. Was the September drop enough to say the market is slowing? Definitely not, and October’s stats show that.
The Market Activity (New Listings) hasn’t seen much of a change, and the Average Price per month has been holding steady in the $255,000 range since July. While the market might not be “slowing” it does appear the the average price is starting to settle. The average price Year-To-Date is still up 16.26% at $263,302 mainly due to high Average Sales prices in April, May, and June.