What a way to finish off such an unpredictable year! Stats just arrived from The Windsor/Essex County Association of Realtors (WECAR) for December 2020.
Are you ready? Here we go!
Average sale price for December 2020 was $453,479 which is a whopping 35.60% increase from a year ago!
There were 366 new listings last month (a 26.64% increase from Dec 2019) and 402 sales (a 22.56% increase from Dec 2019).
The most popular home styles for Dec 2020 were:
#1 – 2 storey (with an avg sale price of $613,174)
#2 – Bungalow (with an avg sale price of $355,610)
#3 – 1.5 storey (with an avg sale price of $360,679)
#4 – Ranch (with an avg sale price of $488,880)
$5 – Raised Ranch (with an avg sale price of $498,310)
New construction is experiencing a huge boost right now. If you’ve been considering a new home, secure your lot now! Development phases are selling out quickly and new home prices are rising fast!
If you’ve been on the fence thinking of Buying/Selling and maybe “waiting for the market to calm down” it’s been costing you .. if you owned an averaged priced home last year and experienced an average increase of 35.60% in the value of your home you would have made about $150,000 just by living in your home for a year! That’s unbelievable return on your investment.
Our low inventory continues to be a driver in the marketplace and demand continues to be strong despite the climbing COVID19 numbers.
Averages are great to paint a general picture of the current market however there are many factors that can affect the pricing of the home you’re trying to buy or sell. Contact me to get a customized snapshot of the specific market segment and location you’re dealing with.
Wishing you all the best for a Happy and Safe 2021!
Steve Blais, Sales Representative REMAX Preferred Realty Ltd. DIRECT: 226-347-6945.
