Welcome to our real estate update podcast for Windsor Essex County! If you're thinking about buying or selling a home, you're in for a treat. I'm Kris Ramotar, your local realtor, and I've got the scoop on July 2023's real estate trends.
First up, let's talk listings. Last month, we saw a 20.35% drop with 1,049 homes listed on MLS, compared to 1,317 in July 2022. On the bright side, sales are up by 1.39%, with 438 homes sold in July 2023.
The numbers game continues with prices. The average sale price dipped by 1% to just over $554,000, while the median sale price rose by 2% to $510,000.
Graph time! Graph 1 shows home prices were on the rise until May, peaking at $602,000. But July saw a drop to $554,000. Graph 2 reveals a 20% decline in homes listed on MLS in July compared to June. Supply and demand might be affected.
The interest rate hike might be causing ripples. For buyers, some homes are not getting many showings, potentially offering opportunities. Sellers, be realistic about prices; lower-priced homes are more in demand. Offers with conditions are common, and a well-prepared, clean home can lead to multiple offers.
Remember, a reliable agent is key to navigating this market. For more insights, like and subscribe to our newsletter. Reach out with questions or comments - we're here to help you make the best real estate choices. Stay safe, and until next time
Video https://www.krisramotar.com/windsor-essex-county-market-update
