The cost of buying a new home in Windsor-Essex has been rising for years, but over the past year, the average price has shot up 24 per cent.
The Windsor Essex County Association of Realtors said the average price was $427,107 last month. A year ago, it was $342,418.
Bidding wars for local properties have been a reality for homebuyers for the past couple of years.
The association reported a 5.05 per cent increase in the number of sales last month too. Despite the coronavirus, 686 properties changed hands in July, compared to 653 in July 2019.
The most popular style of home on the market is the bungalow. Realtors sold 124 of those homes last month. The two-storey came in a close second with 122 changing hands.
Listings did drop. For July, there were 906, a dip of 11.26 per cent from a year ago when 1021 properties went on the market.
Right now, there are 947 properties up for sale in the region.
