As a real estate agent I am constantly asked, "what do you think about the market?". My answer is always, "it depends". Many hear the national numbers and erroneously apply those numbers to their own homes. Every market is different and even town to town can vary greatly (as I will illustrate below).
Appreciation
What is the history of Windsor housing prices? Let's look at the last 5 years.
From 2003 to 2006 we experienced a 32.5% increase in average sales price. From 2006 to 2007 we only experienced a decrease of 1.9% on average.
Current Inventory
Windsor has 132 single family homes for sale. There are 59 homes currently under deposit indicating a very healthy 2 month inventory.
Conclusion
Windsor prices are holding up very well in comparison to other markets and towns.
For example, Avon experienced an increase of only 25.9% between 2003 and 2006 (Windsor prices went up 32.5%) and then Avon prices slipped 5.8% (nearly 3 times as much as Windsor). Also, Avon currently has a 6 month inventory of homes (again, 3 times as much as Windsor). This high inventory in Avon indicates their prices will be dropping even more dramatically.
I am all for being honest when it comes to the real estate market. If things were worse I wouldn't try and pretend everything was fine. The good news is real estate prices in Windsor are currently stable without any clear indication that prices will drop (such as a high inventory of unsold homes). There are many other factors that can affect prices if the economy continues to slow, but Windsor should not be impacted as severely as other towns.
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