Residential sales activity recorded through the MLS® System of the Windsor-Essex County Association of REALTORS® numbered 456 units in October 2014. This was up just one sale from October 2013.
“While sales have cooled off a bit compared to a very strong summer, activity remains very healthy, with October sales still comfortably above both the five and 10-year averages for the month,” said Bill Courtney, President of the Windsor-Essex County Association of REALTORS®. “Overall supply continues to trend down and is currently running at the lowest level in more than a decade. With the decline in supply amid stronger demand, the market has become increasingly more favourable to sellers, and the result is continued upward pressure on prices.”
The average price of homes sold in October 2014 was $190,095, up 2.7 per cent from a year earlier. The year-to-date average price was $187,711, up 4.2 per cent from the same period in 2013.