..am800cklw new - Peter Langille (March 21, 2016)
A longtime Real Estate and Development insider in Windsor says the local housing market is as hot as he's ever seen it.
Peter Valente says a number of factors are increasing prices and the volume of properties being sold. He says confidence in the local economy and a limited number of listings are both causing prices to rise.
Valente says the superheated market has been happening since last Spring: "We're seeing multiple offer situations on houses that are priced properly in certain neighbourhoods. It would be strange if a house comes for sale in this market that's priced properly in a good neigbourhood that doesn't have multiple offers in the first week, and bidding wars."
He says prices are up in both resale and new homes, creating a challenge in the new housing market. Valente says some people are building because they can't find what they want in a resale home.
He says the "100 Mile Peninsula" initiative is having an impact because people moving from the GTA still see this as an affordable alternative.
He hopes values of Real Estate continue to climb locally because it will lead to greater prosperity in the region.