35% Price Drop in Windsor
Force me to produce a number showing the decline in Windsor residential real estate, and a thirty-five percent decline from market peaks in 2005 is what I would come up with. I looked at 119 sales since the beginning of 2008 and compared the current sales price with the last known sale (or refinancing) of each property. The numbers ranged from a break-even point in 2003 to as much as 50% or more for a few properties. The majority of the homes fell into the relatively broad band of 20% to 40% declines in value. The chart below has a data point for each of the properties that has sold this year.
Residential Price Change in Windsor CA
I looked at all 119 bank owned sales in Windsor to see if there was more information to help guide buyers to figure out what might represent the decline in values in their price range. The chart showing decline from previous years is interesting, but it doesn’t help too much with an individual property. I prepared another chart that also shows each REO transaction from this year, but uses actual 2008 sales price for each home as the baseline.
Percent Value Change Windsor Bank Owned 2008 Sale Price vs Peak
A couple of useful trends can be picked out of the information here. First, the higher the value of the home, the smaller the price drop has been. Once you are above the $600,000 price point for current values all the sales this year have clustered around 25% drop from the peak prices. As you move into the middle of the market between $300,000 and $400,000 you can see multiple properties that have dropped as much as 40% or more. Still, in this price bracket you can see where I pulled my 35% number. That’s the circled cluster that has the most data points on the chart and represents the majority of transactions. If you are in the market for buying a Windsor REO or bank-owned home, this information should help you understand the pricing. If you have a question about a specific property in Windsor, I can help you. Here’s a link for finding Windsor REO property.