The July 2025 residential real estate market statistics are now in from WECAR (The Windsor/Essex County Association of Realtors). Listings and Sales are up and Average Price down slightly. Let’s take a look!
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The average sale price for July 2025 was $592,092 which is down 1.63% from this time last year but up 1.70% from last month. Listings in July were up once again at 1,337 which is a 1.83% increase compared to a year ago but down 0.15% compared to last month. Sales were up at 504 which is a 3.14% increase compared to a year ago and up 7.01% from last month. This is significant! Especially in our typical summer market!
Average days on market was at 19 days in July which is an increase from the 14 days we saw in June. Months of inventory came in at 3.8 months (down from last month’s 4.1). This metric indicates that we are in a “Seller’s Market”. The Sales to New Listings Ratio (SNLR) came in at 38.2% (up slightly from last month’s 36.1%). This metric indicates that we remain currently in a “Buyer’s Market”. Ok, this makes no sense you say. How can it be a Buyer’s and a Seller’s Market at the same time? 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 most recent BoC interest rate announcement resulted in the BoC holding the target rate at 2.75%. Inflation increased slightly in June from 1.7% to 1.9% which may increase as additional tariffs cause an increase in the cost of goods. The uncertainty of US/Canada trade relations continues to dominate headlines.
Final thought: The July average price did sink slightly year over year however compared to last month we’re up slightly. It’s nice to see both listings and sales up slightly year over year but the real headliner is the month over month increase in sales by over 7%! The tariff and jobs uncertainty has been causing a serious pause in the market however in July we’ve seen a significant increase in sales in a month that is typically a slower summer selling period. CREA (The Canadian Real Estate Association) has revised its 2025 forecast once again citing trade/economic uncertainty for a revised 3% drop in home sales for 2025 year over year nationally. CMHC (Canada Mortgage and Housing Corporation) is forecasting a 2% decline in average home price for 2025 year over year with a gradual recovery in 2026 as trade uncertainty is expected to improve. Trade uncertainty remains the name of the game for now, but buyers seem to be slowly getting off the sidelines as sales increase. 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!
