Windsor Essex Market Watch February 2013

RESIDENTIAL MARKET The number of residential sales in Windsor and Essex County increased 16% in January 2013, compared to January 2012. Despite the increase in sales the average price decreased to $166,417 from $168,764 in January 2012. It should be noted that the average price was more a factor of certain county areas experiencing several less expensive sales than the prior year. When we Look at the Windsor area only, the average home price increased slightly. The January 2013 sales to listings ratio (listings sold expressed as a percent of listings received) was 45% which is up from 38% in 2012. As inventory shrinks and sales remain steady or grow, we are anticipating prices to rise. CONDO MARKET During the one month period ending January 31, 2013 there were 31 condominium sales in the market place. This compares to 28 condo sales in the same period of 2011 As of January 31, 2012 there were 67 condo listings received. This was the same amount of listings received in January 2012. The sales to list ratio (Listings sold expressed as a percent of Listings received) for January 31, 2013 period was 46%. In 2012 it was 42%. The inventory of active condo listings as of January 31, 2013 was 202 units. This compares to 224 units in 2012 and is a decrease of 9.8%. The number of months of inventory...

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Market Watch January 2013

RESIDENTIAL During the twelve month period ending December 31, 2012 there were 4,933 residential sales in the market place this compares to 4,786 residential sales for the same period in 2011, an increase of 3%. As of December 31, 2012 there were 9,061 residential listings received this compares to 9,364 in the same period for 2011, this is a decrease of 3% in residential listings received. The sales to listings ratio (listings sold expressed as a percent of listings received) for the period was 54% in 2011 it was 51%. The inventory of the active residential listings as of December 31, 2012 was 2,192, this compares to 2,450 in 2011. This is a decrease of 11% in active residential listings. The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and is a further measure of the balance between housing supply and demand. It currently stands at 5.3 months. In December 2011 it was 6.1 months. The average residential selling price was $175,515 for the 12 month period ending December 31, 2012. This is an increase of 3% from 2011. The average listing during the period took 74 days to sell (76 in 2011) and sold for 95% of the list price. In the Market Watch for December 2012, we broke down changes in...

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Market Watch December 2012

Residential Sales: Residential sales in November 2012 increased 13.09% compared to November 2011.  Year to date sales are up 3.93%. The Listing Sale Ratio Year to date was 54% which indicates we are in a balanced market moving towards a Sellers Market.  Listings as a whole are down 3.10% year to date from the previous year.  With low inventories and steady demand we are expecting prices to rise. The Average Sale Price Year to Date was $175,287 compared to $170,105 YTD in 2011. Condominium Sales: The condo market has significantly improved and now has a listing sales ratio of  55% year to date.  Average Sale Price year to date was $127,105 in 2012 compared to $119,485 YTD in November 2011. This month we have broken down Average home price by area from WECAR Statistics.  This breakdown gives you an idea of how each area is performing this year compared to last year....

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Sign Up For Email Alerts

If you are looking for a property in Windsor and Essex County, it is essential to get up to date information the minute it becomes available.  Realtors have better access to Multiple Listing Information and can email customers properties based on their search criteria. Searches can be done based on a wide variety of factors. Typical Searches are based on the the Type of Dwelling, Location and Price. If you would like to receive up to the minute listing updates based on your criteria. Please contact me....

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Search Listings

This page provides property search links. Click Here the below links for 1. Our Listings Search Page 2. Our Residential Listings 3. Our Condo Listings 4. Our Multi Family Listings 5. Our Waterfront Listings 6. Our Vacant Land Listings 7. Our Commercial Listings For Lease 8. Our Commercial Listings For Sale      ...

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Agency Relationships Explained

Agency Relationships Explained When you deal with a REALTOR, you can expect not only strict adherence to provincial laws, but also adherence to a Code of Ethics and Standards of Business Practice. The Code and Standards are very important to you, because it assures you will receive the highest level of service, honesty and integrity. One provision of the Standards requires REALTORS to seek written acknowledgment from vendors and purchasers of disclosure of the agency relationship A REALTOR will be pleased to discuss his or her agency relationship and responsibilities with you. If you need clarification about the types of agency relationship available, ask the REALTOR to explain your alternatives. WHAT IS AN AGENCY RELATIONSHIP? An agency relationship is created where one person, known as the principal, asks another person, known as the agent, to act for and on the behalf of the principal. The principal will define the nature and extent of the agency relationship; in other words, what the agent is being asked to do. In real estate transactions, agency relationships are created when vendors or purchasers ask REALTORS to act on their behalf in real estate transactions. CONSEQUENCES OF AGENCY RELATIONSHIP As a matter of law, an agent who represents a principal owes that principal the highest duty of “utmost good faith”; the agent must represent the principal’s best interests at all times. The agent owes...

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Schools

Follow this Link to Search for Schools in Windsor and Essex...

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City of Windsor Community Improvement Plan

I recently attended a WECAR Commercial Forum and several interesting recent City development incentive programs were described. I have enclosed the presentations for your information.  The two main items were: 1.       The entire City of Windsor is now designated as a Community Improvement Plan, so all properties being developed in the City may benefit from future property tax rebates  if they are being developed for the Target Sectors (industries). 2.       Brownfield Sites have a number of incentives being offered for redevelopment, including environmental assessment, tax rebates, and development charge rebates I beleive the City of Windsor is one of the first City’s in Canada to do a City wide Community Improvement Plan. City of Windsor Community Improvemtne Plan CIP Presention Target Sector: Eligible Use Definitions Compliments of...

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Windsor Essex is becoming a Retirement Destination

With average property values of less than half the national average, as well as 100 miles of waterfront property, Windsor and Essex County is becoming a leading retirement destination. The Windsor Essex County Real Estate Board has formed the Retire Here Web Site to promote the advantages of relocating and retiring in Windsor and Essex County. REASONS YOU SHOULD CONSIDER RELOCATING TO WINDSOR ONTARIO FOR YOUR RETIREMENT YEARS. •1.       COST OF REAL ESTATE– Did you know that the Windsor Essex County area has some of the lowest cost of Real Estate of all major metropolitan areas in Canada? Yes it’s true; your dollar goes much further in the Windsor Area.  You can buy luxury accommodations for less money than standard homes in most other major cities.  Purchasing a home or property here will range 30% to 50% less than in comparable markets. Luxury retirement developments are under construction, completed or scheduled to break ground and account for $90 million in private money between 2007 and 2010. •2.       WEATHER – Did you know that Windsor is on the same latitude with parts of California? We enjoy a temperate climate, and seven to eights months out of the year is short sleeve weather.  Our winters are also very moderate compared to the rest of Canada. •3.       BIG CITY AMMENITIES– Did you know that Windsor is only a 5 minute car ride over...

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Mortgage Pre-Approval

One of the first steps when buying a home is getting pre-qualified for a mortgage.  It is important to understand how much of a mortgage you can afford before you begin searching for a home. I work with a selected group of mortgage professionals who are specially qualified to assist you in this area. If you would like to receive the latest rates, and meet with a mortgage professional, please contact me. The following links are also helpful, if you would like to make some quick calculations.   House Hold Budget Calculator Mortgage Affordability Calculator Mortgage Payment Calculator CMHC Calculator   Mortgage approval, has many factors, including but not limited to income and expenses,  length of employment, and your credit rating. Do to the many factors which can effect a preapproval, the enclosed tools should be only used as a guide.  Only a mortgage professional can give you an actual...

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