The first monthly housing sales report for 2025 in Windsor-Essex shows a major surge in listings and a dip in sales — but no signs of softening demand, according to the head of the area real estate association.
The January report released this week shows the average sale price has climbed 6.55 per cent to $572,643 even as listings shot up 26.36 per cent and the number of properties sold fell 9.97 per cent.
“It doesn’t necessarily mean that the market is going down because based on the sale price — no we’re not,” said Maggie Chen, the president of the Windsor-Essex County Realtors Association (WECAR).
“So, we are in a market that’s kind of a very tricky situation right now.”
There were 815 new listings added last month while sales dipped with 262 properties sold; however, Chen said the continued price climb is a sign of a stable and steady market.
“I do not think demand is softened,” said Chen.
“I think the buyers are taking their time to make the decision.”
The market in Windsor-Essex begins the year the way it ended 2024 as standoffs continue between buyers and sellers along with bidding wars at the lower end of the market.
“The buyers are still on the sideline, yet the sellers think that it’s time for them to sell,” said Chen.
“If the property is priced below the market value, the seller attracts 20 offers, 25 offers; and then the final sale price is still $100,000 [to] $150,000 over asking.”
Chen said a more traditional pricing strategy, that sees more room for price negotiation, remains at the higher end of the housing market while heavy competition remains for lower-priced properties.
Things could change in the spring, Chen predicts, if the Bank of Canada stops its streak of interest rate cuts — signalling buyers to act.
“I think all the buyers who are now on the sideline will come out and then the market will be different,” said Chen.
The median house price has also climbed 3.92 per cent year-over-year from $510,000 to $530,000.
The majority of properties sold in the $420,000 to $549,999 range with 84 sales, followed by 55 sales in the $550,000 to $699,999 range and 37 sales in the $360,000 to $419,999 range.
Chen added the recent turmoil caused by U.S. President Donald Trump’s tariff threat against Canada may have also caused buyers to pause major purchases as they assessed the economic uncertainty.
“Which is understandable both that the buyers are holding off on their decision to buy or not to buy. That is one of the big reasons why the sales came down,” said Chen.
“Not necessarily about the winter market. I think we start the year very strong. I was pleased.”
Prime Minister Justin Trudeau announced an agreement with Trump on Monday that paused the tariff threat for “at least” 30 days.
