Windsor house values stablilzing after 12.5% fall from 1st of year.

 The sales price average in Wubdsor MLS is down 12 1/2% from the 1st of January. Peaked at $700,000 in March and is now stabilizing at $567,000.

One thought is that buyers were knowingly paying more than the appraised value for the past five years due to fairytale low interest rates. Mortgages need to be renewed every 5 years and as the note becomes "due" with the higher interest rates, many will have to sell as their mortgage payments double!

See the statistics published attached.

Thanks

Tom

 Very Successful Real Estate Commercial brokers meeting on February 22nd, 2023. Several hundred thousand dollars from a dozen participants were noted as available for the purchase of real estate in the USA and Canada.

The Group is named MAREX which is an acronym for the Michigan Association of Real Estate Exchangers. However, most participants are not geographically bound. Realtors present online were from Ontario, Michigan, Massachusetts, South Carolina, Illinois, and Colorado with properties in an even wider spectrum of locations. 

The next meeting is on March 15 at 2:30 PM Eastern time. Contact Tom Goebel for an invitation on Zoom.