Home sales were down nearly 20 per cent throughout Windsor and Essex County in May.
The Windsor Essex County Association of Realtors monthly statistics show that while the amount of listings was up 11.91 per cent there were fewer sales than in May 2023.
There were 464 residential properties sold in May 2024 compared to 579 in May 2023. The average residential property sold for $575,014, down 4.14 per cent from last year.
Overall, year-to-date sales are down 2.3 per cent compared to the first five months of 2023.
On Wednesday morning, the Bank of Canada lowered the policy interest rate for the first time in four years by 25 base points to 4.75 per cent. This is expected to have an impact on housing sales throughout the country.
