The final round of stats for 2019 have just been released by the Windsor Essex County Association of Realtors. Comparing December 2019 to December 2018, we saw a decrease of 9.39% in the number of new listings (Market Activity) and a 4.00% drop in Sales. The December 2019 average residential sales price was $333,564.
One chart to take notice of below is the breakdown of the sales in each price range. In December 2019 we only saw 14 sales under $140,000. In the past, it was quite easy to find move -in ready properties under $140,000 in our area. Im afraid those days are numbered, and the only properties you will find in that price range are ones in need of renovations.
In 2019 we saw an average residential sales price of $335,697 which is an increase of 12.08% (2018 average residential sales price was $299,507).
We are still experiencing an inventory shortage. Listings are still low, and the amount of buyers still remains high. Multiple offers are still the norm on the vast majority of properties, and this has driven up the Average Sales Price. In 2020, the RE/MAX Housing Outlook Report is predicting our average residential resale price will increase another 9%.
FULL YEAR STATS