Average Windsor Residential Price In October Is At It’s Highest Since July
Windsor residential real estate prices may be temporarily stabilizing, and are even trending marginally upward month to month. At an average price of around $542,000, the average Windsor residential price in October is at it’s highest since July
If you are looking to sell your home sometime soon, this may be the time to do it. Prices have stabilized a bit, and may even be trending upward slowly. You could try to sell into this momentary strength in the market.
You may have to move fast to get this better price because we are still overall in a bear market. As I explained previously, a bear market means there has been significant negative growth since the peak of the market which has not been recovered.
Since the market is still down significantly overall, this momentary stability in prices is more likely to break downward to more losses, rather than upward to more gains. That means you may need to act now and sell quickly into this rebound in prices.
Why Is It Unlikely That Prices Will Rise Back To Their Peak Soon?
There are many factors working against this small rebound in price & market stability we have been discussing the last few months.
Interest Rates Keep Rising – this, pushes demand down by making bank lending standards increase and having fewer people qualify for a mortgage.
TSX & Stock Market Are Down - In January of this year stocks were doing much better than they are now. When stocks are down people’s retirement accounts are hurt, they have less money, and their assets give them less leverage at banks.
Political Instability - The war in Ukraine and other events have disrupted world trade in multiple goods, including some of those, Windsor in particular uses to thrive as a community. Due to issues like in automotive production and other areas, there is less money available to be invested in our community.
Sell Now & Take Advantage Of The Highest Prices Since July
Many people who bought their property years ago could still sell it today and make a significant profit in Windsor. If you are one of those people, or if you need to move soon regardless, you can start the process of listing your house now by contacting a real estate professional.
If you act now, to list your home with me, Mark Williams, I can help you sell in this stable price trend. That way you get the best price possible in the short term, with less risk.
Lock in your deal now, so you may limit being impacted by any potential movement lower in the future. Call 519-300-6464 for more information.
