Niagara Market Stats - September 2024
Residential home sales activity recorded through the MLS® for the Niagara Association of REALTORS® (NAR) totalled 488 units in September 2024, compared to 372 in September 2023.
In September, the Niagara Association of REALTORS® listed 1457 residential properties compared to 1366 in September 2023.
The average days it took to sell a home in September 2024 was 44 days, a 18.9 % increase from September 2023.
With over 2,900 active listings there are plenty of options for buyers to purchase in Niagara. The sales (488), days on market (44) and HPI Benchmark Price ($640,000) stayed relatively the same month over month with the cumulative days on market (69 Days), proving that pricing accordingly is important for sellers.
Lowering interest rates, mortgage rule changes and some good local housing policies have given the consumers confidence in the market again and that is evident in the 30% increase we saw in sales compared to September 2023.
The overall MLS® HPI composite benchmark price for the Niagara Region was $640,000 in September 2024. This was a 2% decrease from September 2023.
Thinking about buying or selling? Now is a great time to explore your options. Contact me today to discuss how we can make the most of this market for you!
Tracy Phelan, Broker
905 321 6165
soldbytracy1@gmail.com
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