Courtesy of Annette O'Neil

Windsor-Essex County MLS ® home sales remain subdued in February

$606,500 residential

UP 2.6% year-to-year

BENCHMARK PRICE

735 NEW LISTINGS

1,041 ACTIVE LISTINGS

361 SOLD LISTINGS

49.1% SALES TO NEW LISTING RATIO

2.9 MONTHS OF INVENTORY

Windsor-Essex County, March 2024 – The number of homes sold through the MLS ® System of the Windsor-Essex County Association of REALTORS ® totaled 361 units in February 2024. “February saw a significant uptick in sales for MLS ® listed properties, marking the highest monthly total since October 2023. Nonetheless, sales still fell short of typical February numbers, although an influx of new listings exceeded the average for this time of year, leading to an increase in overall inventory,” said Mark Lalovich, President of the Windsor-Essex County Association of REALTORS ® . “This is good news for buyers, as it means there are more homes to choose from that may suit their individual needs. On the pricing side, the MLS ® HPI Benchmark Price and average price both held steady. Although we know there is plenty of

demand out there, it appears potential buyers are taking a cautious approach, waiting for a clear signal to come off the sidelines.” The overall MLS ® HPI composite benchmark price was $559,300 in February 2024, a minor increase of 2.1% compared to February 2023. There were 735 new residential listings in February 2024. Active residential listings numbered 1,041 units on the market at the end of February. Months of inventory numbered 2.9 at the end of February 2024. Statistics reflect market activity in February 2024 | Source: Windsor-Essex County Association of REALTORS ® . Market values stated are of the average of Windsor-Essex County. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up to date evaluation of your home.

BE AWARE OF TAX TIME SCAMS With the deadline to file your 2023 tax return looming (April 30 for the majority of Canadians, or June 15 for those that are self-employed) the number of tax-related phone, email or internet scams is also on the rise. To protect yourself, you are encouraged to be extra vigilant when you’re contacted about anything tax related. From text messages asking you to click a link to accept your refund, to emails asking for your information to approve a transfer of funds, there are a lot of very clever and realistic looking scams circulating the country. Unfortunately, anyone is subject to these scams, but be extra cautious if you or those you know are new to filing taxes (teens and those new to working in Canada) or are elderly or not necessarily technologically savvy enough to be able to spot a scam. Scammers can be quite convincing and know which tactics work best to unnerve a potential victim. If you receive a communication from anyone this tax season with a link to click, demanding immediate payment for the funds you owe, asking for personal or financial information, proceed with caution. To learn more, head to the Canada Revenue Agency website where you can learn about common scams, how to protect yourself or even sign up for CRA scam alerts. Go to https://www.canada.ca/en/revenue-agency/campaigns/fraud-scams.html.

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