August Market Update

Author: Tracy Phelan, Broker RE/MAX Garden City Realty Inc. Brokerage | Sep 12, 2023 | Categories: #Beamsville , #BuyingAHome , #Fonthill , #Grimsby , #marketupdate , #NiagaraMarketStats , #NiagaraReal Estate , #NiagaraRegion , #NOTL , #SellingNiagaraHomes , #SellingYourHome , #StCatharines , #Thorold , #Welland , Realtor

Blog by Tracy Phelan Broker RE/MAX Garden City Realty Inc. Brokerage

The Niagara Market Update for August 2023

Niagara real estate continues to hold steady, and with the recent Bank of Canada announcement September 6th that interest rates will hold for now.

August showed us less new listings than July, with basically the same amount of sales, but this is expected during this month, as many are enjoying the last days of summer and getting the kids ready for school,

We are also seeing the gap getting smaller regarding HPI composite benchmark price. Prices are only down 1% from July to August of 2023, and down 3.6% from August 2022 to August 2023. The gap from July 2022 to July 2023 was a decrease of 6.6%.

Reach out if you are considering making a move or just have have any questions regarding the Niagara real estate market. I'm always happy to help.