Windsor MLS Statistics are in for April 2020
New Listings were down from 959 April 2019 by 514 to April 2020 at 445. This may actually be a mild benefit to sellers in that the lower the inventory the less competition. We could expect less listings as meeting and inspecting property would be difficult given the stay at home restrictions. Inventory was as 2,789 for sale in April 2019 and fell to 2,358 April 2020.
Sales fell dramatically by as expected. Agents were all but prohibited on showing property. Sales in April 2019 were at 634 and fell by 348 to 286 in April 2020. This in itself is not too disconcerting unless a seller is in a hurry. There is likely a pent up demand that will take affect once the restrictions are lifted. People may be able to tour properties in a normal fashion this summer.
The most troubling statistic was in the average price. Feb 2020 was the highest point in Windsor history with average sale price at $386,265. This fell in March to $357,874. The negative trend continued in April to an average price of $352,463. That is nearly a 9% drop in value in only 2 months. Annualized the rate is near 50% should that negative trend continue.
One or two months do not make a market. We will know better in the first week of June after the May statistics are out. May has at least a partial lockdown in affect so we may not really get a good fix on the market until late summer.
Tom Goebel May 4, 2020