If you were looking to buy a home in Windsor-Essex last month, the competition was fierce despite a big jump in the average price.
The Windsor-Essex County Association of Realtors said 694 homes changed hands in April compared to 299 in the same month last year. That's more than a 132 per cent increase.
So far this year, the number of homes that sold has jumped over 52 per cent compared to this time last year.
Market activity is still strong, with a 21 per cent between January and April compared to 2020. A total of 2,927 properties have been listed.
Currently, the association said there are 480 properties on the market.
As for the cost, home buyers are forking out more and more. The average price in Windsor-Essex last month was $571,943. In April 2020, it was $356,444, up 60 per cent.
Despite stiff competition and higher prices, a report by Toronto real estate agency Zolo sheds some light on why home buyers are still snapping up properties in force.
It says Windsor is still the most affordable mid-sized city in Ontario, giving it a score of 9.86 out of ten.
With a median income of $82,840, it calculates if a homeowner were to sink all their earnings into paying off their mortgage, they could do it in just 6.4 years. In London, listed second on the ranking, it would take just over seven years.
With its proximity to Detroit, favourable weather, family-friendly environment, Zolo said the city remains an attractive market for home buyers.
The other four cities listed in its top five most affordable mid-sized cities were London, Barrie, Kanata, and Guelph.