Alibris

Local realtors association Ontario's oldest (con't) 

Despite a depressed real estate market buying and selling homes is second nature to people who live in the Windsor area.


President Kim Gazo (pictured) mentioned some possible reasons for home-owning’s popularity.


One is the American influence and being an “early adopter” of organized real estate.


“I would surmise a reason why we are the oldest has to do with our geography, being a border city and emulating our American neighbours,” she said.

The name of the present “Association of Realtors” came into effect in August of last year.

Prior to that the name was the Windsor-Essex County Real Estate Board.

That is in turn was the amalgamation of two boards – The Windsor Real Estate Board (formerly Border Cities) and the South Essex Real Estate Board.

Certainly there has been a massive increase in sales since World War II.

According to association statistics, in 1945 there were only six sales totalling $40,650.

In 1984 there were 4,639 sales and more than 10,000 listings with sales of $243 million.

In 2011 sales reached just over $949 million with some 5700 sales and 12,600 listings.

Gazo suggested a reason for the area’s high ownership ratio is because of the good jobs provided by the auto industry.

“Windsor has always been a lunch bucket hard working auto town - which is now evolving to less auto centric leanings - full of folks who take pride in owning their own home and settling deep roots in this wonderful area,” she said.

And finally the number don’t lie.

House prices are among the cheapest in Canada.

In August the average price here was just over $182,000 while in September the Ontario average was just over $403,000 and Canadian average almost $386,000.

“Mortgage payments are comparable to rental payments with of course the benefit of building one’s own equity,” Gazo said.

WindsorOntarioNews.com

 


Please note that all fields followed by an asterisk must be filled in.

Please enter the word that you see below.

  

Hot Prices, Haute Fashions at SheInside