"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 $646,900 in…

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.…

Should you buy a home now or should you wait? That’s a big question on many people’s minds today. What timing is right for you may depend on a lot of personal factors but, here’s something you may not have considered: If you’re able to buy at today’s rates and prices, it may be better to focus on time IN the market, rather than timing the market. The Downside of Trying to Time the Market  Trying to time the market isn’t a good strategy because things can change. Here’s an example. For the better part of this year, projections have said mortgage rates will come down. And while experts agree that’s still…

In May, the Niagara Association of REALTORS® listed 1568 residential properties compared to 1318 in May 2023. The average days it took to sell a home in May 2024 was 37 days, a 23% increase from May 2023. Consumers who have been waiting on the sidelines should be in the market now with the Bank of Canada announcement reducing the interest rate today. This has given both buyers and sellers the confidence in the market they needed. May was already showing signs of that confidence with May Sales identical to April and the Benchmark Price increase along with the days on market…

 “The Market is starting to change, and that is evident with the number of sales in January that increased not only month over month but also year over year, looking back at Jan 2023.“ reports Niagara Association of REALTORS® President, Nathan Morrissette.   We can all see with the sales activity increased and the average days on Market reduced, it could make for an interesting year ahead, especially with the HPI Benchmark price holding steady, which is why it is so important for those thinking about buying or selling this year to contact their local Niagara REALTOR® now.  You want to be…

September Niagara Real Estate Market Update We are continuing to see a dip in sales this September 2023 compared to August 2023, but an increase in new listings up by 12% from August. The HPI Benchmark price has dipped a bit as well by 1.4% since last month, indicating a buyers’ market. As people get back into their life and school routines in September, this is expected. The last quarter of the year is usually busier as people are hoping to move before the holiday season and winter. October looks to be a great time for buyers as we have lots of inventory and…

As we step into spring, many things come to mind from the blooming flowers to the brighter days. But did you know that spring is one of the most favored times to sell a house? The warm weather, mild conditions, and picturesque viewings set the scene for your house to look it's best. In this blog, we will explore the benefits of selling your home in the spring market and why it's the perfect time to put your home on the market.

Welcome to the exciting month of June, where we celebrate National Homeownership Month! Whether you're a first-time homebuyer or someone looking to upgrade your current living situation, there's no denying the profound impact that owning a home can have on your life. In this blog, we will delve into the top five benefits of homeownership, highlighting the advantages that await you when you decide to invest in your property. So, let's explore why homeownership can be a life-changing experience!

April stats are live! If you ave any questions about the current market reach out at any time 905-321 - 6165

Looking to buy a property can be quite overwhelming especially if you don’t know what to expect or where to begin your search. One of the best decisions you can make when searching for a property is to hire a personal real estate agent. A personal real estate agent at Tracy Phelan can help make the process easier and less stressful for you. In this blog post, we’ll be discussing the benefits of hiring a personal real estate agent for your property search.

The Niagara Real Estate Market Report Year over Year - January 2023 vs January 2022 As expected for January 2023, we are seeing less sales and more homes going up for sale compared to January 2022, which was a highly frenzied seller's market, as we all recall. We are definitely seeing a more balanced Real Estate Market. New listings in the Niagara Region were 771 in January 2023 vs 529 in January 2022, which is a increase of 45.7% Residential home sales in Niagara totaled 302 homes in January 2023 compared to 454 in January 2022, which is a decrease of…

The Niagara Real Estate Market Report Year over Year - December 2022 vs December 2021 New listings in the Niagara Region were 443 in December 2022 vs 403 in December 2021, which is a increase of 7.4% Residential home sales in Niagara totaled 275 homes in December 2022 compared to 473 in December 2021, which is a decrease of 41.9% The average HPI composite benchmark* price was $631,600 in December 2022, compared to $717,800 in December 2021, which is a decrease of 12% The Niagara Real Estate Market Report Month to Month, December 2022 vs November 2022. New listings in the…