Niagara Real Estate Market Update - August 2024 Residential home sales activity recorded through the MLS® for the Niagara Association of REALTORS® (NAR) totaled 503 units in July 2024, compared to 522 July 2023. In July, the NAR listed 1345 residential properties compared to 1280 in July 2023.  The average days it took to sell a home in July 2024 was 42 days, a 31.3% increase from July 2023. 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…

Niagara Real Estate Market Update - July 2024 The latest data from the Niagara Association of REALTORS® (NAR) reveals some intriguing trends in our local market. In June 2024, residential home sales totaled 541 units, down from 609 in June 2023. This June, we saw 1,460 new listings, a slight increase from 1,403 from June 2023. Homes are taking a bit longer to sell, with an average of 36 days on the market—a 20% increase from last year. Interestingly, the benchmark price has stabilized, suggesting a more balanced market. Currently, we have over 2,800 active listings, offering Buyers a wider selection of properties.…

If you’re a homeowner, you might be torn on whether or not to sell your house right now. Maybe that’s because you don’t want to take on a higher mortgage rate on your next home. If that’s your biggest hurdle, understanding your equity may be exactly what you need to help you feel more comfortable making your move. What Equity Is and How It Works Equity is the current value of your home minus what you owe on the loan. And recently, that equity has been growing far faster than you may expect. Over the last few years, home prices rose dramatically, and that gave your equity a big…

Are You Concerned About the Changing Real Estate Market? If you’re thinking about selling your house, you’re likely hearing about the cooling housing market and wondering what that means for you. While it’s not the peak intensity we saw during the pandemic, we’re still in a sellers’ market. That means you haven’t missed your window. Realtor.com explains: “. . . while prospective home sellers may regret that they missed their prime window, in reality, this is still a terrific time to sell. In fact, according to a recent Realtor.com® home seller survey, 95% of sellers who sold their home in the…

The Niagara Real Estate Market Report Month to Month, October 2022 vs September 2022 Month over Month, Niagara real estate has shown a small decrease in the benchmark price. The number of unit sales is slightly higher when compared to last month. This may be an indication of a trend towards stable pricing and sales in Niagara. Check out the monthly stats below: New listings in the Niagara Region were 1038 in October 2022 vs 1177 in September 2022, which is a decrease of 11.8% Residential home sales totaled 410 in October 2022 compared to 399 in September 2022, which is…

7 Reasons To Sell Your Home In Fall And Winter     After a Spring/Summer as unprecedented as this year, a lot of sellers held off listing their homes, and now that winter is around the corner they are asking: is it worth it to list now or should we wait until spring? While we can try to forecast future markets, one thing we know for sure is that the market is still strong – properties are still selling. This Spring/Summer left many people wanting as there were fewer listing available. There are a number of reasons why I recommend to clients that they list their homes…

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