The latest home sales figures revealed little fluctuation in the numbers for July, according to the Windsor-Essex County Association of Realtors (WECAR).
Despite market activity that continues to fall, sales of residential properties in the region went up last month, by 1.39 per cent compared to July 2022. According to WECAR, this marks the first time since February 2022 that monthly sales have gone up year-to-year.
438 properties changed hands during July, a tiny difference of only six more versus the year before.
The average price of a home for sale also did not change much year-to-year. This July, the average was $554,277, a decline of only 0.96 per cent from July 2022. For 2023 to date, the average price is down just over 14 per cent.
WECAR pointed out that the average residential price is merely a guide for establishing trends and comparisons over time and not necessarily an actual price for a home.
The number of actual homes on the market is still significantly down from 2022. In July, new listings were down 20.3 per cent to 1,049, compared to last year's total of 1,317.
The complete July 2023 sales report can be found on WECAR's official website.
