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 70 – Essex – Kingsville,
80 Lakeshore, Stoney Point & St. Joachim,
90 Stoney Point, Comber, & Parts of Chatham Kent