May 2020 stats are in from WECAR (The Windsor Essex County Association of Realtors) and it looks like the sky isn’t falling quite yet Chicken Little.
There are many doomsday predictions about Real Estate crashes etc. and although we can’t predict future effects of Covid 19 on the overall economy, we can see that with an average sale price of $384,311 which is up 14.37% compared to this time last year, the local Windsor/Essex County market is getting busy again.
Sales are down yes but so are listings and once again on a fairly balanced playing field (38.96% and 36.71% respectively). Compared to April 2020, Buyers and Sellers are getting active again but still not where we should be if many were still not staying home. Our usual busier “Spring Market” has been delayed.
With restrictions easing across the Province, Country and world-wide – we’re all hoping we can get through this safely and with as little economic hardship as possible. It’s up to us all whether we go through a second wave. Let’s all keep practicing what has worked fairly well for us so far.
Speaking from my own personal opinion, I think that the Windsor/Essex Real Estate Market is strong and has held up well against such a massive global pandemic. What will the future bring? Who knows but right now, I’m happy to see such resilience.
Of course general statistics are not at all what you should be relying on when Buying a Selling a home. Real Estate is a very specific animal and the market differs depending on your location, type of property and price point.
Contact me to discuss what to expect in your world! Steve Blais, Sales Rep. REMAX Preferred Realty Ltd. – Direct: 226-347-6945
