Windsor Tops The List Of Best Cities To Buy Real Estate In Canada

Hello time traveller!!
This article is 2020 days old.
The information listed below is likely outdated and has been preserved for archival purposes.

The City of Windsor came in as the best city in Canada to buy real estate in 2019 according to in MoneySense’s magazine.

The magainzeine points out that buyers and real estate investors started to question whether Windsor was a good place to buy a home shortly after the U.S. housing crash hit in 2008.

“Almost overnight, this southern Ontario city became one of the worst real estate markets in Canada. Not only did the city’s housing supply rise rapidly, but prices also began to plummet as the city’s unemployment rate climbed. It was during this time that Windsor’s vacancy rate sat at the almost unthinkable 15%—the worst in the country at that time,” says the magazine report.

They say that the rule of investing — buy low and sell high — meant that a few risk takers were willing to buy into Windsor’s real estate market, and by 2015 their calculated risk had begun to take off.

In 2018 the city’s vacancy rate dropped again to 3%.

Statistics from the Windsor-Essex County Association of Realtors shows the average price of a home sold in February 2019 was $322,109, that number inFebruary 2018 was $268,168. This is a 20% increase in just one year.

You can find their entire report online here.