Windsor’s housing market is maintaining its hot streak.

Market WatchWindsor’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

Cameron Paine's photo.
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