A Big Spike in Windsor Home Prices

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Year-over-year home prices made healthy gains in many regions across Canada with Windsor leading the pack.

That's according to the Royal LePage House Price Survey released Friday.

During the fourth quarter of 2018, the report indicates buyers in Ontario continued to look beyond the Greater Toronto Area in search of affordability. Despite some price relief in the suburbs surrounding Toronto, buyers from the region are still venturing out to other Southern Ontario cities where price points are significantly lower.

Windsor saw the highest appreciation rate in the country, rising 14.7% year-over-year to $261,782, a $33,501 jump in prices compared to the same time in 2017.

The price for a two-storey home in this area increased 17.2% year-over-year to $265,723 for a $39,000 increase.

Condominiums in the Windsor area posted the biggest gains, shooting up nearly 29% (28.7%) to $225,133, a $50,000 price increase year-over-year.