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Market Results for May 2008

Resale to Cool in 2008

The resale home market in Windsor-Essex, which peaked in 2005, will continue to slow in 2008 and
2009. Sales through the Windsor-Essex Real Estate Board will soften a further three per cent to
4,850 units. Historically low mortgage rates and lower prices will keep the resale market from falling
further. The Windsor CMA is considered one of the more affordable homeownership markets in any
major metropolitan market in southern Ontario. The ratio of required income needed to carry the
mortgage on an average priced home to actual household income received on average by
homeowners in the Windsor CMA is well below that of neighboring communities.

Source: CMHC

TOTAL NUMBER OF LISTINGS IN MAY: 1313 DOWN: 8%
NUMBER OF SALES IN MAY: 516 DOWN: 14%
AVERAGE SALE PRICE IN MAY: $163,939 DOWN FROM: $170,094
NUMBER OF MEMBERS AS OF MAY: 919 DOWN FROM: 958
MOST POPULAR STYLE OF HOUSE: RANCH, FOLLOWED CLOSELY BY RAISED RANCH

SUPPLIED BY THE WINDSOR ESSEX COUNTY REAL ESTATE BOARD
SERVING WINDSOR ESSEX COUNTY SINCE 1918

Posted by Kimberly ( Underwood ) Kostescu on 06/03/2008 09:30 PM

Comments (2)

real estate, buyer information, windsor, ontario, commmunity, buyers market, location, listing price, selling price, sellers, affordable

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2 Comments on Market Results for May 2008

Hi Kimberly, That was a good post. Good reporting on market statistics. Here is a little tip. Click on picture and the little sizing boxes will appear. Then click on picture icon and hit the word Appearance. Make your vertical and horizontal spacing 9 pixels each and put a 0 (zero) in the border. Hit save and the words along side the photo won't be touching it.

06/04/2008 12:06 AM

by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)

Thanks William ! I would have preferred a brighter forecast, but what can I say !

Kimberly

06/04/2008 09:02 AM

by Kimberly ( Underwood ) Kostescu (Coldwell Banker Crampsie Realty)