Market Update July 2024

July 2024 has come to an end and the Windsor/Essex County real estate stats are in for residential properties!
At the end of the month there were 1,911 active listings with 467 sales. This gives us a months of inventory ratio (MOI) of 4.1. So we are still technically in a seller's market. The average sales price was $599,248.
Houses under $600,000 we are seeing a 2.5 MOI and houses over $600,000 the MOI is more like 5-6 which is more of a balanced market. This gives buyers the opportunity to have conditions.
Homes over $1 Million, there are 170 active listings and 11 sales in the month of July. This gives us 11-12 MOI which would be classified as a buyer's market.
We have seen 10-11% increase in listings Year To Date (YTD). With a slight 2% decrease in sales YTD. Prices of homes are still holding strong.
Questions about our local housing market? Contact us today!