Stable Housing Prices Here

Thursday, October 17, 2013

The Windsor Star/Dave Hall

Stable housing prices here

Housing prices in the Windsor market have remained relatively stable over the past year, according to a survey conducted by Royal LePage.

Prices of standard two-storey homes increased by 1.1 per cent to $131,350 in a year-over-year comparison.

Meanwhile, prices of detached bungalows fell by 0.2 per cent to $178,660 and prices of condominiums dropped by 0.6 per cent to $138,125.

"Decreased prices this quarter are so minor, they don't paint the full picture," said Fred Shaw, manager of Royal LePage Binder Real Estate. "There hasn't been much change, but it appears that people who were previously apprehensive about spending money in the real estate market are slowly beginning to do so again."

Shaw also said that while Windsor is not experiencing some of the strong price increases being seen in other Canadians markets, there are still multiple offers being submitted on homes due to low inventory in many neighbourhoods.

Locally, 466 homes sold in September, a 26 per cent increase from a year ago.

The average selling price in September was $183,000, a slight increase of 1.6 per cent compared to last September ($176,000), according to the Windsor Essex County Association of Realtors.