2015 Windsor Essex Market Watch 10 Year Trends

Market WatchEach year Buckingham publishes a Residential  Market Watch showing the statistics for all of Windsor and Essex County.  While this information is helpful for an over all look of the market trends, it is also helpful to look at the area you are interested in to determine what is happening in that neighbourhood.   The Windsor Essex County Association of Realtors divides the County of Essex into a number of areas.  Each Area has its own distinct characteristics.   Buckingham has taken the time to graph Residential Listing information for Areas 1 through 60 with historic trends. It is interesting to see the differences in changes to average sales price and listing sales ratio in each area.  Each area’s growth changes at a different rate.

The Listing Sales Ratio is obtained by taking the number of listings and dividing it by the number of sales.  In general a Listing Sales Ratio of under 50% is referred to as a Buyer’s market, and is characterized by falling prices. A L/S Ratio of 50% is referred to as a balanced market and is usually characterized by limited growth in prices.  A L/S Ratio well above  50% is referred to as a Sellers Market and is usually characterized by rising prices.

S-L Ratio Average Price Residential Area 1

S-L Ratio Average Price Residential Area 2

S-L Ratio Average Price Residential Area 3

S-L Ratio Average Price Residential Area 4

S-L Ratio Average Price Residential Area 5

S-L Ratio Average Price Residential Area 6

S-L Ratio Average Price Residential Area 7

S-L Ratio Average Price Residential Area 8

S-L Ratio Average Price Residential Area 9

S-L Ratio Average Price Residential Area 10

S-L Ratio Average Price Residential Area 20

S-L Ratio Average Price Residential Area 30

S-L Ratio Average Price Residential Area 40

S-L Ratio Average Price Residential Area 60

75 Riverside Drive East Condominium

Posted by on August 21, 2015 in Recent Works | Comments Off on 75 Riverside Drive East Condominium

75 Riverside Drive East Condominium

75 Riverside Drive East Condo 75 Riverside Drive East, Windsor, Ontario N9A 7C4 75 Riverside Drive is a condominium building with main floor commercial space. Located at the south west corner of Goyeau and Riverside Drive. Constructed in 1989, 18 storeys tall. For information on recent sales or a free market evaluation, please contact me.   […]

75 Riverside Drive East Condo 75 Riverside Drive East, Windsor, Ontario N9A 7C4 75 Riverside Drive is a condominium building with main floor commercial space. Located at the south west corner of Goyeau and Riverside Drive. Constructed in 1989, 18 storeys tall. For information on recent sales or a free market evaluation, please contact me.           Suite A 770 sq.ft. Suite B 1073 sq.ft. Suite C 1335 sq.ft. Suite D 1135 sq.ft. Suite E 830 sq.ft. Suite F 1131 sq.ft. Suite G 1208 sq.ft. Suite H  1135 sq.ft.  ...

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LeGoyeau Condominium

Posted by on August 21, 2015 in Recent Works | Comments Off on LeGoyeau Condominium

LeGoyeau Condominium

Le Goyeau Condominium Windsor, Ontario including Floor Plans, Amenities and Photos Le Goyeau Condos 111 Riverside Drive East, Windsor, Ontario N9A 2S6 LeGoyeau Condo is the name of an elegant upscale Condo building along Riverside Drive in the heart of downtown Windsor. It is on the corner of Goyeau Avenue and Riverside Drive. Across the street to the west is 75 Riverside Drive, and to the east is the Raymond Desmarais Manor and Caesars Windsor Casino. The building is notable for having a T-shape (oriented upside-down), slender curves, and a large underground parking garage. The LeGoyeau Apartments stand at 17 floors, 15 above ground, and two below ground. Please Contact me if you would like to have listing emailed to you  in this building, or if you would like to arrange a showing. I have Attached Floor Plans Suite 1, Suite 2, Suite 3, Suite 4, Suite 5, Suite 6,  Suite 7, Suite 8,  Suite 9, Suite 10, Suite 11, Suite 12, Suite 14, Suite 15, Suite 16 Building Plan            Suite 1 Suite 2 Suite 3 Suite 4 Suite 5 Suite 6  Suite 7 Suite 8  Suite 9 Suite 10 Suite 11 Suite 12 Suite 14 Suite 15 Suite 16 Building...

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Market Watch July

Posted by on August 19, 2015 in Blog | Comments Off on Market Watch July

Market Watch July

Enclosed is the Condo Market Watch for Windsor and Essex County as well as by Area including Average Condo Prices and the Listing Sales Ratio in each area. July 2015 Market Watch Condo July 2015 Market Watch Condo Area 1 July 2015 Market Watch Condo Area 2 July 2015 Market Watch Condo Area 3 July 2015 Market Watch Condo Area 4 July 2015 Market Watch Condo Area 5 July 2015 Market Watch Condo Area 6 July 2015 Market Watch Condo Area 7 July 2015 Market Watch Condo Area 8 July 2015 Market Watch Condo Area 9 July 2015 Market Watch Condo Area 10 July 2015 Market Watch Condo Area 20 July 2015 Market Watch Condo Area 30 July 2015 Market Watch Condo Area 40 July 2015 Market Watch Condo Area 60...

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Windsor’s housing market is maintaining its hot streak.

Posted by on June 4, 2015 in Blog | Comments Off on Windsor’s housing market is maintaining its hot streak.

Windsor’s housing market is maintaining its hot streak.

Windsor’s housing market is maintaining its hot streak. In May, listings were up 8.7 per cent over the same period last year, with 970, according to the Windsor-Essex County Association of Realtors. As well, the 588 properties that sold were 10.7 per cent more than May 2014. “It’s the fifth straight month of sales increases,” Cameron Paine, president of the Windsor-Essex County Association of Realtors, said Wednesday. “Listings are also up but because sales have increased so much, the inventory of listings is actually down by about eight per cent.” Paine said houses priced fairly tend to sell within days, especially in the most desirable areas. “Multiple offers are very common now,” he said. “And prices are going up.” Paine said the local housing market is the best he has seen since perhaps 2003. The last four years, home prices have increased three to four per cent a year. Based on the first five months of 2015, he expects price increases of six to seven per cent this year. The average sales price for May was $208,441, compared to $185,982 for May 2014. The most popular type of house sold in May? A bungalow or ranch home. “We’re experiencing consumer confidence in this area,” he said, “which is good.” Source Windsor Star...

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2015 Windsor Essex Market Watch 10 Year Trends

Posted by on February 23, 2015 in Blog | Comments Off on 2015 Windsor Essex Market Watch 10 Year Trends

2015 Windsor Essex Market Watch 10 Year Trends

Each year Buckingham publishes a Residential  Market Watch showing the statistics for all of Windsor and Essex County.  While this information is helpful for an over all look of the market trends, it is also helpful to look at the area you are interested in to determine what is happening in that neighbourhood.   The Windsor Essex County Association of Realtors divides the County of Essex into a number of areas.  Each Area has its own distinct characteristics.   Buckingham has taken the time to graph Residential Listing information for Areas 1 through 60 with historic trends. It is interesting to see the differences in changes to average sales price and listing sales ratio in each area.  Each area’s growth changes at a different rate. The Listing Sales Ratio is obtained by taking the number of listings and dividing it by the number of sales.  In general a Listing Sales Ratio of under 50% is referred to as a Buyer’s market, and is characterized by falling prices. A L/S Ratio of 50% is referred to as a balanced market and is usually characterized by limited growth in prices.  A L/S Ratio well above  50% is referred to as a Sellers Market and is usually characterized by rising prices. S-L Ratio Average Price Residential Area 1 S-L Ratio Average Price Residential Area 2 S-L Ratio Average Price Residential Area 3 S-L Ratio Average Price Residential Area 4 S-L Ratio Average Price Residential Area 5 S-L Ratio Average Price Residential Area 6 S-L Ratio Average Price Residential Area 7 S-L Ratio Average Price Residential Area 8 S-L Ratio Average Price Residential Area 9 S-L Ratio Average Price Residential Area 10 S-L Ratio Average Price Residential Area 20 S-L Ratio Average Price Residential Area 30 S-L Ratio Average Price Residential Area 40 S-L Ratio Average Price Residential Area...

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Windsor Essex Market Watch October 2014

Posted by on October 9, 2014 in Blog | Comments Off on Windsor Essex Market Watch October 2014

Windsor Essex Market Watch October 2014

The Third quarter of 2014 saw year to date residential sales fairly flat/steady with a slight increase of 0.56% compared to 2013.  Third quarter residential listings continue to be low with a decline year to date of 3.65% compared 2013.  The low supply of homes and steady demand continues to place upwards pressure on home prices.  The average price for the third quarter year to date in 2014 was $191,969 compared to $182,964 an increase of 4.9%. While house prices are increasing, demand for homes has remained fairly steady.  Some of the key factors effecting housing demand are employment,  population growth, and the age of the population. The  City of Windsor is currently benefiting from the current strong auto sector, which is helping housing demand remain stable in the area.  However, the overall loss in auto sector jobs over the years (do to globalization) has significantly reduced the number of higher paying jobs in the area. The City of Windsor  unemployment in September was 8.7%, this is the 2nd highest in Canada.  High unemployment has also made jobs a main focus in the current municipal election.  Age of the Population is also effecting housing demand and the type of housing needed.  The senior population (over 65) in Windsor increased 13.1% from 2006 – 2011, despite the population declining 1.3%.  As older people, are not usually part of the workforce, they will also not show up in unemployment stats.  See the CMHC 2014,  3rd quarter Housing Now Report. The Windsor Essex Development Commission has been working on diversifying the Windsor Essex economy. The efforts to diversify, including tourism/recreation, transportation, agri-business and manufacturing.  Growth industries include health and life sciences and renewable energy technologies.   It is hoped by diversification, employment will become more stable and less reliant on the cyclical nature of the auto sector. Location and age of neighbourhoods is also a factor in the market.  Areas 1, 2  and 3 representing the downtown and west end of the City are primarily older homes with an average home price in the $95,000 range. The concentration of low property values and higher unemployment, has started to raise concern over the levels of poverty in these areas.   A better indication of trends in each area can be found by looking at the ten year averages.  Please visit the Buckingham Annual Market Report for Trends by...

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Windsor Essex Market Watch March 2014

Posted by on April 26, 2014 in Blog | Comments Off on Windsor Essex Market Watch March 2014

Windsor Essex Market Watch March 2014

Windsor Essex Market Watch March 2014 The First quarter of 2014 saw sales decline   23.14% %  compared to the first quarter of 2013.  Listings declined  19.8% compared to the first quarter of 2013.  At first glance one may think that the market is in decline, however this short term change was common across the province of Ontario and has primarily been attributed to the sever winter weather.   The long winter has kept many Buyers and Sellers indoors this year, which we feel is the main cause in the decline in sales and lower inventory. We are anticipating a very strong spring.  We are now seeing an increase in the number of Buyers looking for a home.  The low supply of homes and increased demand should continue to place upwards pressure on home prices.  Despite lower sales volume, the average price was $182,792 compared to $175, 452 an increase of 4.2%. Another factor that effects housing demand is employment. Windsor unemployment in March was 7.3%, compared to over 9% aprox. 1 year ago.  This should help the demand of homes going forward.   Consumer confidence and demand may also have been negatively affected during the first quarter as Chrysler was in the news quite often regarding the future of the Windsor Assembly Plant. We have enclosed the First Quarter of 2014 Buckingham Report. 2014 First Quarter Market Watch (2) We have taken the time to break out each area, which is helpful in getting a general idea about how each area is performing.  Windsor and Essex County is unique as it has has some areas with an average home price of aprox $95,000 and other with an average home price of over $250,000. A better indication of trends in each area can be found by looking at the ten year averages.  Please visit the Annual Market Report for Trends by Area.  http://www.cameronpaine.com/windsor-essex-market-watch-by-area/  ...

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Windsor Essex Market Watch By Area 10 Year Tends

Posted by on April 26, 2014 in Blog | Comments Off on Windsor Essex Market Watch By Area 10 Year Tends

Windsor Essex Market Watch By Area 10 Year Tends

Windsor Essex Market Watch By Area Each year Buckingham publishes a Residential  Market Watch showing the statistics for all of Windsor and Essex County.  While this information is helpful for an over all look of the market trends, it is also helpful to look at the area you are interested in to determine what is happening in that neighbourhood.   The Windsor Essex County Association of Realtors divides the County of Essex into a number of areas.  Each Area has its own distinct characteristics.   Buckingham has taken the time to graph Residential Listing information for Areas 1 through 60 with historic trends. It is interesting to see the differences in changes to average sales price and listing sales ratio in each area.  Each area’s growth changes at a different rate. For example Area 1 – West Windsor is a mature area and is primarily made up 1 – 1/2 storey, 1- 3/4 story and  bungalow homes that were built prior to 1950.  The average price in this area was 92,550 in 2013 with a listing sales ratio of 52%.  Area 1 saw large declines in average sale price of homes and in 2013 the average sale price was lower that its peak in 2004 of $116,205. In contrast Tecumseh is a mature area built primarily after 1960 which is still seeing some growth from new construction.  Tecumseh most popular homes are raised ranches and two storey homes.  The average sale price in Tecumseh in 2013 was  $262,283 and  the listing sales ratio was 66%. Tecumseh has seen average home prices exceed its 2004 level of $237,115. The above two examples show how the Listing Sale Ratio coincides with market performance. In the example of area 1 the listing sales ratio has consistently been lower than the Listing Sales Ratio of Area 5.  With lower Listing Sales Ratio Area 1′s market has also not recovered as well as other areas and is still below its 2004 peak. The Listing Sales Ratio is obtained by taking the number of listings and dividing it by the number of sales.  In general a Listing Sales Ratio of under 50% is referred to as a Buyer’s market, and is characterized by falling prices. A L/S Ratio of 50% is referred to as a balanced market and is usually characterized by limited growth in prices.  A L/S Ratio well above  50% is referred to as a Sellers Market and is usually characterized by rising prices. Area 1 – West Windsor,  Area 2 – Downtown West Windsor,  Area 3 – Downtown East Windsor,  Area 4 – Riverside,  Area 5 – Tecumseh,  Area 6 – Fountain Bleu – Forest Glade, Area 7 – Central Windsor,  Area 8 – South Windsor,  Area 9 – LaSalle,  Area 10 – Amherstburg, Area 20 – Harrow, Essex & Colchester,  Area 30 – Kingsville and Ruthven,  Area 40 – Leamington,  Area 60 – Belle River – Emeryville,  Area 70 – Essex – Kingsville, 80 Lakeshore, Stoney Point & St. Joachim, 90 Stoney Point, Comber, &  Parts of Chatham...

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Windsor Homes Buying vs Renting

Posted by on April 26, 2014 in Blog | 1 comment

Windsor Homes Buying vs Renting

I am often asked whether it is better to rent or to buy.  There are several sites which offer lease vs buy analysis.  The main factors are to consider are: 1.    Monthly Rent 2.    Home Price 3.    Down Payment 4.    Mortgage Rate 5.    Annual Property Taxes Other items such as maintenance, cost of buying, cost of selling, operating costs such as insurance and utilities should also be considered. As a rule of thumb, if you plan on staying in a home for more than 3 years, it is cheaper to buy. Most people think the benefit in buying is to “stop throwing your money away on rent,” but in fact the equity you build from buying is mostly offset by the money you will “throw way” on taxes, insurance, maintenance, and mortgage interest, which renters don’t pay. The real benefit from buying is that you assume your property will increase in value over time while you continue to pay the same monthly payment for 15 to 30 years, and then you stop paying it altogether. If property values decline, the numbers change in favour of renting fairly quickly. 2005 marked a  peak in the Windsor Real Estate Market with average home prices at around $165,000..  Struggling with high unemployment and a slightly declining population, Windsor saw a decline in property values from 2006 – 2009.  Many people that purchased in Windsor in 2005 and attempted to sell in 2009, did so at a loss.  However, property values are again on the rise in the Windsor Area and there is a lot of money being spent on infrastructure over the next several years. Home prices in Windsor have risen for the past four years an average of 4% per year.  In addition Windsor’ Listing Sales ratio has exceeded 50% for several years and has been in excess of 60% in several areas, this is a further indication that prices will continue to rise. Each year Buckingham publishes a Residential  Market Watch showing the statistics for all of Windsor and Essex County.  While this information is helpful for an over all look of the market trends, it is also helpful to look at the area you are interested in to determine what is happening in that neighbourhood.   The Windsor Essex County Association of Realtors divides the County of Essex into a number of areas.  Each Area has its own distinct characteristics.   Buckingham has taken the time to graph Residential Listing information for Areas 1 through 60 with historic trends. It is interesting to see the differences in changes to average sales price and listing sales ratio in each area.  Each area’s growth changes at a different rate. http://www.seewindsorrealestate.com/windsor-essex-market-watch-by-area-trends/ Other Factors which make it a good time to buy in Windsor: The current low interest rates are also very helpful in reducing mortgage payments. Average house price of $183,000 (2013) is less than half of the National Average. Massive infrastructure spending in Windsor and surrounding area over the next several years. You don’t pay cash when you buy a home. If you had to do that then nobody could afford to buy a house. Instead you get a loan from a bank called a mortgage. You make payments on this loan every month for 15 or 30 years, and then...

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Windsor Essex Market Watch August 2013

Posted by on August 1, 2013 in Blog, Market Watch, Recent Works | Comments Off on Windsor Essex Market Watch August 2013

Windsor Essex Market Watch August 2013

RESIDENTIAL MARKET The number of residential sales in Windsor and Essex County remains fairly flat year to date as of July 31, 2013, with an increase of only 1%, compared to YTD July  31, 2013.  The average price increased 4% to $181,210  from $174,144 during the same period.  Active Listings as of July 31, 2013 was 2,738 compared to 2808 in 2012, this is a decrease of 2.6%.  The market remains fairly balanced with a listing sales ratio of 54% year to date 2013 compared to 53% in 2012. We are anticipating prices to continue to rise this year, as inventory levels remain low and demand remains steady.  Many Windsor home owners have struggled with low home values.   As property values continue to improve each year,  we anticipate more home owners in future years will be looking to buy and sell, as they will have more equity available to them. CONDO MARKET The number of condo sales in Windsor and Essex County has increased 4.3% year to date as of July 31, 2013.  The average price year to date increased substantially to $137,498 as of July 31, 2013  from $128,794 in 2012, representing an increase of 6.8%. Active  Condo Listings as of July 31, 2013 was 225 compared to 259 in 2012, this is a decrease of 13.1%.   . The Listing Sales Ratio increased to 54% year to date  as of July 31, 2013 compared to 50% in 2012. The substantial drop in condo inventory is putting upward pressure on condo prices.  With rising prices and steady demand, we expect the construction on new condominiums will begin to resume within the next 1 – 2 years after coming to a halt in 2009. Other News:  The City of Detroits declaration of Bankruptcy.  Detroit tax base has fallen dramatically, as the city struggles with a declining population, declining property values, and hi vacancy. However Michigan as whole is now in recovery with prices recovering rapidly from their substantial drop in 2009. Windsor is still struggling with unemployment, Windsor’s jobless rate moved up to third in Canada in June despite the fact it fell marginally from 9.5 per cent in May to 9.4 per cent last month.  The CMHC housing outlook report shows housing starts continue to be low in 2013....

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