The February 2025 residential real estate market statistics are now in from WECAR (The Windsor/Essex County Association of Realtors). Listings up and Sales down. Let’s dive in!
You can download my full Market Report PDF HERE: https://steveblais.com/wp-content/uploads/2025/03/February-2025-Market-update-report-PDF.pdf
The average sale price for February 2025 was $559,363 which is down 3.79% from this time last year and down 2.32% from last month. Listings in February were up at 739 which is a 9.48% increase compared to a year ago and down 9.33% compared to last month (last month saw exceptionally high listings). Sales were down at 307 which is a 12.54% decrease compared to a year ago but were up 17.18% from last month.
Average days on market was at 15.5 days in February which is a fair bit shorter than last month which sat at 22 days. Months of inventory came in at 3.9 months (up just slightly from last month’s 3.8). The Sales to New Listings Ratio (SNLR) came in at 41.3% (up from last month’s 35.5%). This metric indicates that we currently in a “Balanced Market”.
Current headlines: There was no BoC meeting in February with the next meeting scheduled for March 12, 2025, so we continue to sit at a 3.00% target. Inflation inched up slightly from 1.8% to 1.9%. US President Donald Trump’s Tariffs on Canadian, Mexican and Chinese goods and materials is set to begin March 4th. At the recent CMHC 2025 Outlook seminar, Lead Economist Anthony Passarelli indicated that Windsor is currently ranked 3rd out of 41 Canadian cities for highest negative exposure to US tariffs surpassed only by Saint John, NB and Calgary,
Final thought: Currently I’m hearing from many business owners that sales and interest is noticeably down, with many Canadians wondering how this looming trade war will affect their jobs and cost of living. Real Estate trends, especially after Covid, have been challenging to predict but a lengthy trade war with the USA will make it even more difficult since the full effects may take some time to show up. As the average sale price drops slightly our sights are on the coming typically busier spring market. Will Buyers show up or hit the pause button once again? The balanced market will be good for both Buyers and Sellers although Buyers will likely notice homes in the below average segment still quite active and competitive. These are certainly uncertain times!
Take care!
