Windsor Ontario and Essex County Real Estate Insights: December Market Recap and Tips for Success

Are you planning to buy or sell a home in Windsor Essex County? With the December 2024 market stats in, the real estate scene remains dynamic, even in the traditionally slower holiday season. Understanding the market trends and leveraging expert advice can make all the difference in achieving your real estate goals.

I’m Kris Ramotar, your local Windsor Essex County Realtor, here to share valuable market insights, success stories, and practical advice for home buyers and sellers. Whether you’re a first-time buyer or a seasoned homeowner, this blog will provide you with actionable tips to navigate the current market effectively.

December 2024 Market Recap

Here are the latest numbers that define Windsor Essex County’s real estate landscape:

• 357 homes listed on MLS.
• 216 homes sold, with 59 expired listings and 200 canceled listings.
• Average sale price: $590,000 | Median sale price: $420,000.
• Average days on market: 32 days.

Condo Market:

• 45 condos listed, 14 sold, with 7 expired and 21 canceled listings.
• Average sale price: $387,000 | Median sale price: $340,000.
• Average days on market for condos: 23 days.

These stats highlight a resilient market with strong demand, even during the holiday season. Lower interest rates and new programs for first-time buyers are expected to fuel increased activity into 2025.

Key Tips for Home Buyers

1. Be Prepared to Act Quickly

The Windsor Essex County market remains competitive, particularly for well-priced homes. Ensure you’re pre-approved for a mortgage and ready to make an offer when you find the right property.

2. Leverage First-Time Buyer Programs

With new programs offering extended 30-year amortization periods, first-time buyers can benefit from lower monthly payments. However, be mindful of the long-term costs associated with these options.

3. Include Protective Conditions

When bidding, include clauses like home inspections and financing to protect yourself from unexpected surprises. For instance, a recent client, Rizwan, successfully navigated the market with these safeguards in place, ensuring peace of mind.

4. Final Walkthroughs Are Essential

Always schedule a final walkthrough before closing. Rizwan’s experience revealed the importance of this step when he discovered an HVAC issue just before closing. Acting quickly ensured the issue was resolved before the deal was finalized.

Key Tips for Home Sellers

1. Presentation is Everything

Homes that are turnkey and decluttered tend to sell faster and often above the asking price. Invest in professional staging and minor repairs to make your property more appealing.

2. Price Strategically

Pricing your home correctly is crucial. Overpricing can deter buyers, while competitive pricing can attract multiple offers. Use market data and your Realtor’s expertise to determine the optimal price.

3. Patience Pays Off

Even in a competitive market, some homes may take longer to sell. Stay patient and work closely with your Realtor to adjust your strategy as needed.

4. Stay Transparent

Real estate deals often face unexpected challenges. Open communication and transparency can help mitigate these issues and build trust with potential buyers.

A First-Time Buyer Success Story

Rizwan, a first-time homebuyer, faced a competitive market with a limited budget. Here’s how his journey unfolded:

• The Challenge: Finding a family-friendly, turnkey home within his budget.
• The Solution: Leveraging data and market expertise, we identified the right property and negotiated effectively.
• The Outcome: Despite hiccups like an HVAC issue during the final walkthrough, Rizwan successfully closed on his dream home.

Rizwan’s experience underscores the importance of working with a knowledgeable Realtor who prioritizes communication, data-driven decisions, and client protection.

What to Expect in 2025

With interest rates dropping and first-time buyer programs expanding, the market is expected to see:

• Increased buyer activity and competition.
• Stable price growth, with average home prices ranging from the high $500,000s to low $600,000s.
• A mix of challenges and opportunities for both buyers and sellers.

Whether you’re buying your first home or preparing to sell, success in Windsor Essex County’s real estate market requires strategy, preparation, and the right support. As your trusted Realtor, I’m here to guide you every step of the way.

Ready to take the next step?

📞 519.259.9310
📧 krisramotar@gmail.com
🌐 krisramotar.com

Let’s make your real estate dreams a reality! Contact me today to discuss your goals and create a personalized plan for success.