The May 2026 residential real estate market statistics are now in from WECAR (The Windsor/Essex County Association of Realtors). Average price seems to be holding year over year even with falling listings and sales.
You can download my full PDF Market Update Report HERE!
The average sale price for May 2026 was $565,000 which is up +1.61% from this time last year but down -1.25% from last month. Listings in May were down at 1,226 which is a -12.05% decrease compared to a year ago and were also down -8.03% compared to last month. Sales were down at 424 which is a -17.99% decrease compared to a year ago and also down -2.98% from last month.
Average days on market held steady at 16 days in May. Months of inventory came in at 4.6 months (up from last month’s 4.0 months). This metric indicates that we are in a “Balanced Market”. The Sales to New Listings Ratio (SNLR) came in at 34.7% (up from last month’s 33.3%). 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 held its target for the overnight rate at 2.25% at its April 29th meeting (no meeting in May).
- Inflation held steady at 2.4% in April.
- The unemployment rate for Windsor came in at 8.1% in April (down from 8.5% in March but still considerably higher than the national rate which is still at 6.9%).
- The federal and Ontario governments have eliminated the HST tax from new homes for ALL buyers (not just first-time buyers) for a period of one year * (conditions apply).
- Shaun Cathcart, CREA’s Senior Economist commented on the National Housing Market “While home sales were up, only modestly from March to April, the small increase reflected a slow start to the month with a stronger handoff into May, alongside falling days on market and stabilizing prices. This latest bout of global economic uncertainty and higher mortgage rates means the previously expected rebound in housing markets this year will continue to be muted, but it does not mean there will be no upward momentum at all.”
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!
