Homes sales in Windsor-Essex saw a significant drop in October compared to the same time last year. New figures from the Windsor-Essex County Association of Realtors (WECAR) show 382 homes were sold last month - down nearly 21 per cent from the 483 sales recorded last October. The number of homes listed for sale also declined, with 1,090 properties on the market last month compared to 1,261 a year ago. The average sale price dropped just over three per cent year-over-year, falling from about $561,000 to just under $544,000. WECAR President Alyssa Ismail says the municipal election may have played a role in people holding off on buying or selling. “People just being super focused on that and kind of wanting to see what’s going to happen in their communities before they decide whether they’re putting their house up for sale or they’re purchasing something. But I mean if we really look in the grand scheme of things like year-over-year, we’re like 2.89 per cent difference, year-to-date on sales.” She says the market has been seeing some gradual decreases, making it important for sellers to price their homes appropriately. “Nothing too concerning that kind of raises a big flag to me personally, but something to be mindful for sellers and buyers in the market of if you’re not priced appropriately right off the bat when you’re going to market, you don’t want to stay on the market too long and see these decreases because obviously depending on your price point those numbers can really add up.” She says the Windsor-Essex region is still a very attractive place for people to want to live. “I think our average sale price is still very affordable in comparison to a lot of different other areas in Ontario and in Canada in general. Obviously, the climate here is fantastic. And then you still have access to international airports, sporting goods, things like that, within minutes depending on where you live.” Ismail says the fall market also got off to a slower start than usual, but she hopes sales will pick up before the end of the year. So far this year, 4,060 homes have been sold in Windsor-Essex, down nearly seven per cent compared to the same period last year. The most active price range in October was between $420,000 and just under $550,000, with 104 homes sold in that range.
