Paying Over Asking: Windsor Real Estate Buyer’s Big Gripe

Lately, real estate buyers in the Windsor area almost always have one gripe in common: the sale to list price ratio. Almost all the buyers are paying over asking for residential real estate. Things have been this way since about 2018.

In almost no other industry do professionals list a product for sale expecting to take in more money than they ask for in the advertisements. In some industries, such a strategy may even be illegal. Since around 2018 there has been more appetite for Windsor’s houses than there have been houses for sale. This has caused a sort of ‘auction’ to become the norm here, where sellers view multiple offers all on the same day. These contentious auctions have caused housing prices to go up fast. They also result in buyers almost always paying over asking.

Windsor’s Premium On Real Estate

In the past, sellers who held offers on a certain date could have gotten almost 30% over the asking price. In November 2022 that premium on residential real estate has shrunk to only 2%. This is the lowest sales to list price ratio since about 2018.

Sales To List Price Ratio Is Only 102, Down From Around 130

I still wouldn't expect to see many low ball offers get accepted any time soon, but the era of paying 30% more than the list price does seem to be over for now. 

This should make many of the local families who have been struggling to buy a home happy. Many have been massively outbidded during the offer process over the last few years. This seems to be a less likely occurrence as of November 2022. The market may be normalizing a little bit, making it easier for people to rationalize buying a house in Windsor.

Get Back In The House Hunt!

Windsor’s residential real estate marketplace is getting less competitive. If you would like to get back into the search for a family home give me a call 519-300-6464. I will go the extra mile and be understanding of your potentially winding path to home ownership.