Housing prices top half-a-million in Windsor-Essex in December

U.S. Air Force photo by Staff Sgt. Teresa J. Cleveland. Labeled for reuse on Google images.

If you plan to buy a home in Windsor-Essex, better make sure you can put down at least $500,000.

The Windsor-Essex County Association of Realtors says the average price last month was $575,069, up 25.7 per cent from December 2020.

The final report of the year provided a snapshot of the local housing market last year.

The median price was $502,131.

The median is found by listing all the prices in numerical order and picking the price in the middle. It’s different from the average because that figure is found by adding all the prices and dividing them by 12, the number of months in the year.

Despite dipping below 2020 values four months last year, sales picked up in November and December. Last month, they increased 10.6 per cent as 459 properties changed hands compared to 415 in December 2020.

Sales in 2021 were up 16 per cent overall from the year before.

Market activity remains strong. Listings were up 8.87 per cent last month from December 2020. When the association compiled the report, there were 317 listings available.

The most popular style of home sold is still the two-storey, followed by the bungalow and the ranch.