Expect the average sale price for a home in the Windsor area to increase next year.
That's according to the RE/MAX 2019 Housing Market Outlook.
The real estate company reports the Windsor area posted Canada's second highest average sales price gain in 2018, a 13% increase over 2017.
The average sale price was $299,750 compared to $264,750 in 2017, a $35,000 jump.
The report predicts the average sale price in this area will increase another 10% in the new year, which is predicted to be the largest increase in the country.
Remax Agent in Windsor, Goran Todorovic, says those numbers match what he's seeing in the local market.
Windsor ReMax agent Goran Todorovoc, december 2018 (courtesy Team Goran)
He says one driver in the current market is the people who moved out west for jobs during the recession.
"Now they're coming back, happily coming back to their families to their neighbourhoods and they're excited to get back into the real estate market and steady increases will follow in my opinion and obviously the report from ReMax, because all the good factors are here"
Todorovic says the jump in prices in this area has been unbelievable.
"Just over three years ago our average sale price was $168,000. Now it's over $300,000, huge, never seen that. This is my 30th year in the real estate business and I have never that kind of an increase"
He believes there is more upside to growth in the local market than the report indicates.
"I was probably going to suggest 13 to 18% but a company like ReMax, they're fantastic and they sometimes like to be a little on the conservative side. For sure 10% plus is what I see happening"
The Windsor area increase also well above the RE/MAX 2019 average residential sale price expectation for Canada, which is 1.7%.
According to the report, Windsor is a seller’s market, which is likely to continue into 2019 due to the region’s strong economy and low unemployment rates. Many buyers from Vancouver and Toronto are looking at Windsor as a good investment opportunity due to its affordability and liveability. Retirees and first-time homebuyers continue to drive demand in the region.