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Tuesday, September 29, 2015

Windsor housing market heats up

The Windsor Star/Grace Macaluso

While some of the country’s real estate markets are showing signs of cooling down, the Windsor-area market continues to heat up, a new Conference Board of Canada study reported Monday.

Windsor was a seller’s market in August, with the average resale price of $208,249 — a increase of 6.5 per cent from July and a 12.5 per cent jump compared to August 2014, said Robin Wiebe, senior economist at the conference board.

“Windsor’s economy is coming back,” said Wiebe. “Although the 2008-09 recession was tough, since then, Windsor’s economy has been growing and so has employment.”

How far has the housing market come since the recession? Between December 2008 and December 2009, the average resale price was about $152,000, said Wiebe.

In last 12 months, the average price was about $192,000, and over the last four months alone, the price was closer to $199,000, added Wiebe. “Those are healthy increases.”

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