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October 2020 Niagara Real Estate Market Update

Residential home sales activity recorded through the MLS® system for The Niagara Association of REALTORS® (NAR) totaled 883 units in October 2020. This was an increase of 39.5% from October 2019.

“It's evident the Niagara Region remains at the top of the list for Home Buyers.. Looking year over year the number of new listings is down only 1.2% however the number of sales are up 39.5%, moving the Homes Price Index up 18% and the Average Days on Market down 36.2 %. Clearly this is the place to be!” Said Terri McCallum, President of The Niagara Association of REALTORS®.

The MLS® Home Price Index (HPI), tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price for the Niagara region was $498,900 in October 2020. This was an increase of 18% compared to October 2019.

REALTORS® listed 1,065 residential properties in Niagara jurisdiction last month, a decrease of 1.2% compared to October 2019. The average days it took to sell a home in October was 28 days, compared to 43 days in October 2019.

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