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January Market Update

As we draw closer to the Spring real estate market (it really is just around the corner!) we're encouraged to see that although unit sales numbers are down average prices across Niagara are holding strong.

The Niagara Association of REALTORS® (NAR) reported 371 property sales processed through the NAR Multiple Listing Service (MLS®) system in January. This represents a 26.53% decrease in sales compared to January of last year. The residential average sale price of $371,359 was 10.17% higher than last January. The average days on market increased from 36 to 46 in the residential freehold market and increased from 44 to 54 in the condominium market.

Please refer to the chart below for residential market activity in select areas in NAR’s jurisdiction.

If you would like to discuss local market conditions in more detail please give us a call anytime. We're here to help.

All the Best,

John & Cathy

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