Here is a summary of the Real Estate Statistics provided by the Windsor and Essex County Real Estate Board for the Month of April 2008.
Sales month-over-month in April decreased by 2% over April of 2007. However, listings taken in the month increased by 6% AND year-to-date listings fell as well by -4 %
Prices were higher from a year ago from $161,147 to $163,694.
Overall, the market is flat and the same as it was last year. Supply decreased pretty well the same as demand (listings vs. sales) and the average sales price increased ever so slightly. My opinion is that we’ve just about hit ROCK BOTTOM in Windsor and it’s about time to BUY. Grandma always told me to buy low and sell HIGH… Until next month, I wish you all the best, -Sash
| Overall Market April 2008 in Windsor and Essex County | 2008 | 2007 | 2006 | %INC/DEC | |||
| [ 2007 - 2008 ] | |||||||
| Total # of Listings [Month] | 1508 | 1428 | 1355 | 6 % | |||
| Total # of Listings YTD | 5102 | 5307 | 5314 | -4 % | |||
| Total # of Expired Listings [Month] | 535 | 572 | 551 | -6 % | |||
| Total # of Expired Listings YTD | 1983 | 2121 | 2063 | -7 % | |||
| Total # of Sales [Month] | 477 | 489 | 466 | -2 % | |||
| Total # of Sales YTD | 1607 | 1651 | 1720 | -3 % | |||
| Avg. Sales Price YTD 2008 | $163,694 | Avg. Sales Price YTD 2007 | $161,147 | ||||
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Nice post, I enjoy seeing what is going on in other markets. It gives me a read on the nation as a whole. The market in Arizona is so dependent on what happens in other states. As we grow at a fast pace, we have lots of new Arizonans that can't buy until they sell elsewhere. Being able to see the trends helps me to see when our "pick up" will be. Your stats when put against a three year review show some good signs. It appears that percentage wise you are selling more homes this year, in comparison to 2007. You had a few more sales in 2007 but many more listings. So it looks good. Yeah!!! Any sign of an upswing is welcomed by me.
Great post. all around the country things are happeneing...good and bad, just keep lookng fior the good.
...In response to 'Yougottabekiding', most of the workers in that plant were near retirement and they knew this was going to happen. PLUS they got a really sweet buy-out. Albeit, there will still be spin-off jobs lost with the plant closure.
My optimism in Windsor's economy is due to the NEW $1.5 Billion dollar truck route and border crossing (largest single roadway investment in Canadian History) which is likely to take place within the next year or so (once the politicians iron out the details. PLUS, we're also getting another new bridge being alongside the Ambassador Bridge.
We're starting to see investments from Trucking and Logistics' companies in our area as well.
Windsor is usually the first city in Canada in trouble and also the first one to get out of trouble. There are a lot of people bullish on our economy's future due to it's close proximity to major markets, the busiest border crossing (and soon to be busier) in N. America, great weather, and the fact that our county is completely surrounded by the Great Lakes. Furthermore, Caesars Palace has just expanded it's Hotel Space and Convention area ($400M Investment) and our University has just received a major grant from the Government to expand it engineering school. When finished, it will be one of the finest in Canada.
You see, there are others also bullish on our market. Sometimes one has to take one step back in order to move forward 2-3 steps. For these reasons, I recommended to BUY now while the market is a little soft because when construction starts on things start moving, demand on houses is likely to grow.
Best, -Sash