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Local housing market still hot but average sale prices drop slightly

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Neither Agnew nor Winney foresee a sizeable retreat in pricing in the region going forward. Instead they expect price growth to be more steady than dramatic as we slowly head back towards what were pre-COVID 19 norms.
“There’s still a lot of major infrastructure projects going on that will continue for a few years,” Winney said. “There’s solid economic growth.
“People are still coming here from outside Essex County. Though we don’t think so, we’re still a good value compared to other places in the province.”
Agnew said the sweet spot where half of the 723 home sales were in June was between $499,999 and $699,999. Many buyers have turned from the resale market to new builds to avoid bidding wars, he said. ....

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Home prices surging in hot local real estate market

Author of the article: Dave Waddell
Publishing date: Mar 02, 2021 • March 2, 2021 • 3 minute read •
Local real estate prices are surging and available homes aren t on the market very long before being snapped up. Here, a For Sale is shown in front of a home in the 13000 block of St Gregory s Road in Tecumseh on Monday, March 1, 2021. Photo by Dan Janisse /Windsor Star
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A surge in real estates prices that extended down the Highway 401 corridor created a 35-per cent jump in the average price of a home in the Windsor area this January compared to January 2020.
The average local sales price for the month was $510,716 compared to $379,813 just 12 months earlier and $206,383 higher than in January 2019. ....

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Windsor rental units see increased vacancy amid housing market boom

Windsor rental units see increased vacancy amid housing market boom
While the housing market in Windsor-Essex has been the hottest in the country throughout the pandemic, the rental market is seeing quite the opposite.
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CBC News ·
Windsor CMA apartments see increased vacancies.(Adrian Wyld/Canadian Press)
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While the housing market in Windsor-Essex has been the hottest in the country throughout the pandemic, the rental market is seeing quite the opposite.
The demand for rental units, excluding homes, in the Windsor census metropolitan area (CMA) saw the second largest decrease in demand compared to similar regions in Ontario, according to the latest report from the Canada Mortgage and Housing Corporation. ....

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