The July 2020 stats have just been released by the Windsor Essex County Association of Realtors and we are seeing a rebound in the market that is close to pre-covid19 numbers. While the number of listings are down compared to this time last year, the number of sales has increased. Less listings and more sales means lower inventory and multiple offers. In July 2020 we saw the average residential sales price hit $427,107. This is an increase of 24.73% compared to the same month last year. Our Year-to-Date average residential sales price is at $390,417, and increase of 16.55%. The most popular style of home sold in July 2020 was the Bungalow with an average price of $338,232.
If you check the graphs below, you will see compared to last month, the numbers are trending upwards already. Over the next few weeks, if we see the government allow more businesses to open, i believe we will see the Listings and Sales increase above and beyond a normal pace.
if you have any questions, please fee free to reach out!