The April 2025 residential real estate market statistics are now in from WECAR (The Windsor/Essex County Association of Realtors). I’ll be honest, I cringed a bit when I opened the April 2025 stats, but all things considered the numbers looked better than I expected they might. Let’s take a look!
(you can download my full PDF Market Update report HERE!)
The average sale price for April 2025 was $579,910 which is down 0.29% from this time last year and also down 0.56% from last month. Listings in April were up once again at 1,203 which is a 9.46% increase compared to a year ago and up 17.94% compared to last month. Sales were down at 416 which is a 15.27% decrease compared to a year ago but were up 21.64% from last month.
Average days on market was at 14 days in April which is a bit longer than last month which sat at 13 days. Months of inventory came in at 4.0 months (down just slightly from last month’s 4.1). The Sales to New Listings Ratio (SNLR) came in at 34.0% (down slightly from last month’s 34.7%). This metric indicates that we remain currently in a “Buyer’s Market”.
Current headlines: The BoC interest rate announcement on April 16 resulted in the BoC holding the target rate at 2.75%. Inflation dropped slightly from 2.6 to 2.3%. US President Donald Trump’s on again – off again (and on and off again) global trade war tariff’s continuing to headline the world economic disruption including here in Canada. Canada’s federal election produced a win for Prime Minister Mark Carney and the Liberal Party – hopefully they can work with the US administration to reduce the current uncertain environment we’re facing.
Final thought: All things considered I’m impressed that the average price has held quite stable during this time of higher listings and slower sales in what should be the busier spring market season. It’s understandable that families worry about their jobs and future income prospects when the world economy is in a state of constant disruption. Sellers continue to hold relatively firm on pricing and many Buyers are still in pause mode. Keep in mind that market conditions vary greatly depending on what price point you are in etc. so it’s never been more important to hire a REALTOR® who understands the market and can offer you the best advice possible!
As US President Trump continues to impose tariffs and then delay them and then back them off and change them, for now all we can do is hope that our government can successfully advocate on our behalf to bring some stability to the coming months/years. In the meantime, we can all continue to support local and Canadian businesses and products. Buyers, it’s still a Buyer’s Market so now may be the right time to make a move!
Take care!
