5 notes on this topic.
August's WECAR numbers put the median sold price at $515,000 and the MLS® HPI benchmark at $584,300 — both higher than July. What actually moved was the sale-to-list ratio, down to 99.8%, and what that changes for pricing a home this fall.
Windsor-Essex sales swing from roughly 240 homes in a winter month to roughly 480 in a summer one, and the pattern has repeated three years running. What thirty-six months of WECAR figures show about timing, and the one thing they still cannot tell you.
In one of the region's eight municipalities, $500,000 shops the upper half of what is for sale. In the other seven it shops the bottom. Where the number lands, what it triggers in the down payment rules, and what leaves the account before the price does.
July's WECAR numbers put the median sold price about 5% below last year, while the MLS® HPI says a typical home is worth 0.9% more. What each number measures, and what 4.3 months of inventory means if you're buying or selling this fall.
Every price figure here is an asking price, not a sale price, and the difference matters more than it sounds. How the numbers on this site are built, and what they can and can't tell you.
Harjeet Singh, REALTOR® · Jump Realty