The February 2026 residential real estate market statistics are now in from WECAR (The Windsor/Essex County Association of Realtors). Let’s get into it!
You can download my full market update report HERE!
The average sale price for January 2026 was $541,588 which is down -3.84% from this time last year but up +2.57% from last month. Listings in January were up at 764 which is a +2.00% increase compared to a year ago but down -3.05% compared to last month. The real headline this month was sales, which were down at 237, a -27.52% decrease compared to a year ago and down -11.24% from last month.
Average days on market was at 20 days in February which is down from 25 days in January. Months of inventory came in at 5.5 months (up from last month’s 5.1 months). This metric indicates that we are in a “Balanced Market”. The Sales to New Listings Ratio (SNLR) came in at 33.8% (up from last month’s 31.6%). This metric indicates that we are currently in a “Buyer’s Market”. What’s the difference between these two metrics? In essence, these two metrics offer complementary perspectives on the real estate market. While months of inventory provides a snapshot of the overall supply situation, the sales to new listings ratio gives a more immediate indication of current market demand.
Current headlines: The BoC did not have a meeting in February, so the target rate is still holding at 2.25%. The next announcement will be on March 18th. Inflation decreased slightly in January at 2.3% (down from 2.4% the previous month). Windsor’s unemployment rate in January increased slightly at 8.1% (up from 7.7% the previous month). According to CREA, the number of home sales recorded over Canadian MLS® Systems fell 5.8% on a month-over-month basis in January 2026 while the number of newly listed properties jumped 7.3% on a month-over-month basis. Shaun Cathcart, CREA’s Senior Economist said. “Notwithstanding the chilly start to the year, we continue to expect 2026 will ultimately be defined by pent-up demand from first-time buyers finally seeing a chance to enter the market.”
Final thought: A considerable drop in sales was the big headline in February. CREA alluded to extreme cold and poor weather conditions as a partial cause of the slowdown, especially in Southwestern Ontario. Economic uncertainty continues and just recently a US-led war in Iran fueling rising oil prices will likely affect inflation as well. Essex County’s plan to introduce development charges in 2028 in addition to the high charges already levied by municipalities will likely be a tough pill to swallow for builders/developers.
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! Take care!
