The Windsor Ontario Real Estate Market continues to show strong growth during the week from November 7th to November 13th.
During that time there were 71 homes sold which is a 30% DECREASE from the last blog post.
Of the 71 Homes sold in Windsor, Ontario there were 65 that were bid over the asking price, 1 that sold at the asking price and just 5 that sold under the asking price.
Total volume for the week was $36,619,735 of sales on a list price of $30,574,934. Average over bid declined from last weeks $116,000 to a more modest average over bid of $85,138 with the average over bid in the lower 3rd of the market standing at $77,573. In the middle 1/3 of the market the average over bid was $119,893 and in the top 1/3 of the market the average over bid was just $52,767.
The lowest priced home that sold was a gutted to the studs home on a road that shares the name of the City for $240,000 and the highest priced home that sold was in the area of $1,900,000. In fact, for the week, there were 3 homes that sold for over $1.0M.
In Riverside, a modest 3 bedroom 1 bath home on a road named after the third US President sold for $403,000. Additionally, in Riverside, a basic raised ranch behind the car dealerships on Tecumseh road sold for $690,000 which was just slightly below the average price of a similar raised ranch in the area.
In the Villages of Riverside, the largest model in that neighbourhood, with some slight upgrades slightly underperformed its peers selling for a modest $265,000. Keep in mind that the Villages of Riverside is a small enclave that shares access to the award winning Riverside Schools!
There is no other Real Estate Activity to report this week, it was generally a quiet week.
The resiliency of the Windsor market has not changed week over week. Realtors are still bringing homes to market at their MARKETING price and the homes are selling for their true Market Value. Ideally, it would be helpful if every realtor would simply up price their listings by $50,000 to narrow the over bid data set that is upsetting to so many, but those that are upset just have to be made aware of the underlying data to be a better informed purchaser.
Thanks for reading. You can follow me, Brian Price, at Facebook, Instagram, YouTube and LinkedIn for more great advice from Windsor’s ONLY multi-disciplinary, fiduciary, consultative, full-time REALTOR, my focus is on YOU and YOUR best interests. Feel free to call me at my cell phone: 519-995-6145. I simply ask, How can I help?”