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Home sales dropped by 42%

Ontario buying house and purchasing mortgage

Windsor-area home sales dropped by 42 per cent and prices receded by 4.87 per cent in September compared to the same month a year ago.

The slide in both sales and prices, which began with the Bank of Canada raising interest rates last spring, has seen the average monthly sales price drop from $723,739 in March to $523,928 last month.

There were 403 homes sold last month compared to 694 in September 2021.

“A more balanced market is what I’d say is happening,” said TRU Real Estate Group broker Tina Roy.

“I don’t expect prices are going up much in the short term. We’re adjusting to what’s happening. Source-Widsor Star Read More

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