Windsor Essex Cottage Market Trends (2023)

The Windsor Essex cottage market is currently a seller’s market, with local buyers – predominantly Get X and retirees – driving sales of recreational properties in the region. The most in-demand features include waterfront locations and access to recreational activities, such as water sports. 

There is not a specific cottage market in Windsor Essex, but rather waterfront properties were typically classified as “recreational.” There is a low inventory of waterfront properties with a tendency to be priced high, relative to the area. A lot of the waterfront cottages in Windsor Essex were built many years ago, mainly by Americans crossing over from Michigan. These properties have been renovated and winterized over the last 50 years, and while some may still be used as summer homes or cottages, many have become primary residences. The average sale price of these waterfront homes ranges in the $900,000 to $1 million. Meanwhile, on the Detroit River, waterfront homes can range from $1 million to $5 million.

Average price in the overall Windsor Essex residential market declined by 22.6 per cent year-over-year, from $699,551 in Q1 of 2022 to $541,356 in Q1 of 2023. Sales have also declined by 44.1 per cent, from 1,768 units sold in Q1 of 2022, to 988 sales in Q1 of 2023.

Looking forward, average price is expected to increase another three per cent through the remainder of 2023, while sales could see an increase of 35 per cent.

Despite the Foreign Buyers Ban not being applicable to recreational regions, it has created confusion in the market, and has resulted in decreased interest from foreign buyers.