The average price of a home across Windsor-Essex continues to break records.
The Windsor-Essex County Association of Realtors (WECAR) said the average price of homes sold in March of 2019 was a record $328,875, up 19.1 per cent from March of 2018. That's a $15,500 increase from the previous month.
WECAR said the tight real estate market in the Windsor area is driving up prices.
“Home sales were running at solid, if somewhat average levels in March, although they probably would have been higher if there were more properties out there to buy,” said Tina Roy, president of the Windsor-Essex County Association of Realtors. "The market has now been about two years with under two months of inventory. As a result, prices are on track for yet another double-digit gain this year, led by March’s new all-time record.”
The association said there were 751 new residential listings last month, up 7.6 per cent on a year-over-year basis, but overall the housing supply is still running at record lows. WECAR said the number of homes for sale at the end of March was down 4.8 per cent from a year ago and "the lowest level of active supply ever recorded for this time of the year."
