Windsor-Essex County Real Estate Market Update – November 1-22-2024

Understanding the Local Market: Insights for Home Buyers and Sellers

Are you curious about the real estate market in Windsor Ontario and Essex County? Whether you're buying, selling, or just staying informed, knowing the latest market trends is crucial. Here’s everything you need to know about the November market in Windsor Ontario and Essex County, along with expert advice to help you make informed decisions.

November Market Snapshot

• 647 homes listed
• 279 homes sold
• 69 expired listings 
• 304 canceled listings
• Average sale price: $590,000 
• Median price: $540,000
• Average days to sell: 29 days

Condo Market Highlights:

• 50 condos listed 
• 24 sold
• Average price: $467,000 
• Median price: $375,000
• Average days to sell: 27 days

What Buyers Need to Know

The current market remains competitive for well-priced, move-in-ready homes. Here’s what to expect:

• Multiple Offers: Properties in good locations and priced aggressively often attract multiple offers.
• Interest Rate Drops: With recent interest rate declines, many buyers are entering the market, increasing competition.
• Spring Outlook: Buying now could save you from more competition in the spring market.

💡 Pro Tip: Don’t rush into bidding wars without proper research. Work with an experienced agent to evaluate the true value of a home.

Advice for Sellers

To sell your home quickly and at the best possible price, follow these tips:

• Price Realistically: Homes priced too high tend to stay on the market longer.
• Prepare Your Home: Ensure your property is in turnkey condition to attract serious buyers.
• Know Your Offers: The highest offer isn’t always the best. Evaluate the buyer’s financial qualifications and conditions.

💡 Pro Tip: A well-prepared home in a good location that’s priced competitively will often receive clean, unconditional offers.

Case Study: Pricing Matters

One of my recent clients bid on a home listed at $499,000. Due to heavy interest and aggressive pricing, the property sold for $600,000. However, the quality of the work on this flipped home was poor, and we decided not to proceed.

Instead, we found a solid, well-maintained property listed at $549,900. With only two offers on the table, we secured it for just over $575,000. The home inspection was flawless, and my client was thrilled with their purchase.

Why Work with a Trusted Agent?

The agent you choose can make all the difference in your buying or selling experience. Here’s why:

• Experience & Honesty: A good agent communicates clearly, acts transparently, and always prioritizes your best interests.
• Proven Strategy: I guide my clients by asking, “Would I buy this home for my own family?” This ensures I focus on value and quality.
• Market Expertise: With years of experience in Windsor-Essex County, I help clients navigate the complexities of competitive offers and market trends.

Key Takeaways for Sellers

If your home isn’t selling, it might be due to high pricing, poor condition, or an unfavorable location. By adjusting your price and ensuring your property shows well, you can attract serious buyers.

Ready to Buy or Sell? Let’s Talk!

As a local real estate expert, I’m here to help you navigate the Windsor-Essex market with confidence. Whether you’re buying, selling, or simply exploring your options, I’m committed to providing value, education, and guidance every step of the way.

📩 Contact me today for a free home evaluation or personalized advice.

Your trusted real estate partner,
Kris Ramotar