Windsor-Essex County Real Estate Market Report (January 2025)

Are you thinking about buying or selling a home in Windsor, Essex County, or Chatham, Ontario? 🏡 The real estate market is shifting, and staying informed can help you make smarter financial decisions. Kris Ramotar, your trusted local real estate expert, provides key insights into home prices, mortgage rates, and market trends to guide you through today’s competitive landscape.

Whether you’re looking to buy, sell, or invest, this guide will provide valuable knowledge to help you maximize your opportunities in Windsor-Essex real estate.

 Residential Market Trends

• Homes Listed: 815 (up 26.3% from last year)
• Homes Sold: 262 (down 10%)
• Average Sale Price: $572,000 (up 6.55%)
• Median Sale Price: $530,000 (up 3.92%)
• Days on Market: 32 days (average time to sell)

🏢 Condo Market Trends

• Condos Listed: 113
• Condos Sold: 28
• Average Sale Price: $425,000
• Median Sale Price: $382,000
• Days on Market: 41 days

🔎 What These Numbers Mean for Buyers & Sellers

🏡 For Homebuyers: Be Ready for Competition

• Most active price range: $350,000 - $700,000.
• Luxury buyers are still active: 25 homes sold between $900,000 - $1.5M.
• Many homes are selling at or above list price, especially those in great locations.
• Expect multiple offers on move-in-ready homes in desirable neighborhoods.
• If you’re looking for affordability, prepare to compromise on location or property type.

💡 Buyer Tip: Get pre-approved before shopping and work with an agent who knows how to navigate bidding wars.

🏠 For Home Sellers: How to Get Top Dollar

• Homes in top condition are selling quickly, especially those priced competitively.
• Overpricing can lead to long days on the market, reducing buyer interest.
• Aggressive pricing (just below market value) may attract multiple offers and drive up the final sale price.

🔥 Case Study: A Home That Sold for $120,000 Over Asking

A 4-bedroom, 3-bath home in Tecumseh recently hit the market for $650,000. Due to:
✅ A great location near parks, schools, and highways.
✅ Move-in-ready condition.
✅ Strong buyer interest.

📈 Final Sale Price: $770,000 (11 offers) 💰

This proves that proper pricing and preparation can help sellers maximize their sale price in Windsor-Essex County!

💡 Seller Tip: Work with a local real estate expert like Kris Ramotar to price your home strategically and attract serious buyers.

💰 Mortgage Rate Trends: Are Rates Dropping?

🔹 The 3-year and 5-year Government of Canada bond yields are at their lowest levels in over a year.
🔹 Fixed mortgage rates are expected to drop soon, possibly below 4%.
🔹 Some lenders may offer 3.79% or lower for a 5-year fixed mortgage.

What Should You Do?

• If you're buying, wait until mid-week (Tuesday or Wednesday) to see if rates drop.
• If you have a variable mortgage, be patient, as rates could go even lower.
• If you’re thinking of locking in a new mortgage, consult a mortgage advisor to secure the best deal.

📉 Windsor-Essex County’s Unemployment & Housing Market Trends

🚨 Windsor-Essex County now has the 2nd highest unemployment rate in Canada at 9.1%.

🔹 Job losses & college program cuts are affecting the local economy.
🔹 Many rental properties are hitting the market, especially in West Windsor.
🔹 Investors should ensure properties meet legal rental requirements before purchasing.

💡 Investor Tip: Always check zoning laws and rental regulations before investing in a Windsor-Essex rental property.

📌 Final Thoughts: Should You Buy or Sell Right Now?

📢 Buyers:

✔️ If mortgage rates drop, buying could become more affordable.
✔️ The market remains competitive, so be prepared to act fast.
✔️ Consider alternative neighborhoods for affordability.

📢 Sellers:

✔️ If your home is move-in ready, now is a great time to sell.
✔️ Be realistic with pricing and market trends.
✔️ Multiple offers are happening, but strategic pricing is key.

🚀 Ready to Make a Move? Let’s Talk!

The Windsor, Essex County, and Chatham real estate markets are changing quickly. Whether you're buying, selling, or investing, having a trusted expert by your side can make all the difference.

📞 Contact Kris Ramotar today for a personalized real estate plan!
💬 Drop a comment below or send me a message – I’d love to hear your thoughts on the market!
📌 Follow for more weekly updates on Windsor-Essex real estate trends.