The appeal of Windsor-Essex to seniors has resulted in a gain of 426 households to the area in the past two years, according to a new survey.
That shift represents $110 million in real estate investment by the 50-plus market between September 2008 and December 2010, according to the Windsor-Essex Active Retirement Community Initiative.
The group surveyed 309 area Realtors in December, finding lifestyle, affordability, and community were all part of the draw for the retired demographic moving in.
“Awareness of the 100 Mile Peninsula and our lifestyle continues to grow stronger and more widespread across the country,” said Krista Del Gatto, executive officer of the Windsor-Essex County Real Estate Board.
While the majority of new seniors coming in came from other parts of Ontario, some 28% came from western provinces. But it has yet to be enough to reverse a trend of declining sales and values, and one of the higher unemployment rates in the country.
The average residential sale price for home in February there was $143,350, down 7% from a year earlier, according to the Windsor-Essex County Real Estate Board.
Overall sales were also down, slipping 17.6% from a year earlier to 276 in February.
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