The Windsor, Ontario real estate market hasn't been doing so well in recent times. You tend not to notice when you live in Windsor but you can get some compelling information when comparing it to other markets such as real estate in Georgetown Ontario. On this section of our site we're going to take a look at the current Windsor real estate market and even compare it to other markets.
Before delving into the comparison of the Windsor real estate market, we should first look at some Windsor Ontario real estate statistics. The following stats will help paint you a picture of the current Windsor market. Listings in the month of August were down just under 8% from the previous month and have gone down almost 12% since the beginning of the year. Sales in August went up by over 12% but are still over 5% down for the year, overall. Also, the total sales dollar volume was up in August from July by 14% but that number is down 9% for the year.
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Those are some pretty lackluster numbers. It is very encouraging to see that August home sales went up from the previous month. However, there are a lot more homes sold in the summer months than any other time of the year so you shouldn't put too much stock in those numbers. No matter the location or type of home, be it Windsor homes or Toronto Waterfront condos, the numbers will always be higher in the summer months. Now, let's see how Windsor stacks up.
If you take a look at some stats from the Oakville real estate market you will find that they are doing much better in 2009 than in 2008 unlike the Windsor market. There was an increase of over 34% in the number of homes sold in August 2009 compared to August of 2008 in Oakville. That's a pretty staggering number. Also, since more homes were sold and people were looking to buy, sellers were also able to raise their prices a bit which lead to an increase of 1% in listing prices during the same period. As you can see, the scene seems much sunnier in Oakville than it does in Windsor.
We could spend all day typing up the stats of other markets such as Oshawa or Thornhill real estate but we would just keep coming to the same conclusion which is that the Windsor market is currently in a slump. There are a lot of factors that play into this downward spiral such as the economy and the current job market. However, one thing that citizens of Windsor should be reminded of is that every market goes through cycles and that eventually the market in Windsor will pick up. Any good Windsor or Brampton real estate agent will tell you the same. Whether you're buying or selling a home, don't be too discouraged by the current market in Windsor because it will eventually improve.