Many people are cutting their spending during the COVID-19 pandemic and the economy is taking a hit, but real estate prices are up.
Dan Gemus says the average home price in July is up to $390,000 in Windsor-Essex from $335,000 last year.
The CEO of the Dan Gemus Real Estate tells The Afternoon News there are 1,000 less homes on the market so far in 2020.
"There's definitely less on the market which is helping drive up the price because of high demand obviously," he says.
Gemus says another factor is bigger more expensive homes led sales in July.
"We saw 39 sales over $700,000; just a massive amount," he added.
He says people still want to view homes during the pandemic and realtors are adapting to meet the demand.
"We're relying on technology to really help us move real estate and with a lot of safety measures," says Gemus. "We're showing houses wearing masks with our clients wearing masks."
Gemus says the average sale price for the year to date is up from $335,000 to $390,000.
— with files from AM800's Patty Handysides