Residential home sales activity recorded through the MLS® for the Niagara Association of REALTORS® (NAR) totalled 539 units in October 2024, compared to 377 in October 2023.   In October, the Niagara Association of REALTORS® listed 1274 residential properties compared to 1207 in October 2023.   The average days it took to sell a home in October 2024 was 43 days, a 16.2 % increase from October 2023. "With the amount of sales increasing 43% from last October and increasing 10.5% from last month it's a good indicator that things are trending in the right direction and buyers are definitely coming off the sidelines. Buyers…

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…

"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…

Having a hard time finding a first home that’s right for you, your lifestyle, and your wallet? Well, here’s a tip – think about condominiums, or condos for short. They’re sometimes smaller than single-family homes, but that’s exactly why they can be easier on your budget. So, if you’re comfortable with a smaller space and want to buy your first home this year, adding condos to your search might be easier on your wallet. Besides giving you more options for your home search and maybe fitting your budget better, living in a condo has a bunch of other perks, too.  From community living to walkable urban areas, condos are great…

March was a strong month, with increases complimenting the upward trend we are seeing in the market over the last few months. With the HPI benchmark price at $633,400, an increase of over 2% over last month, which is a positive sign for the market in Niagara; buyers are starting to be more aggressive as the time on the market has been reduced to 43 days from 54 days in January.  If you're thinking of selling or buying a home or just have questions regarding the market  call or text me, I'm always happy to chat.  905 321- 6165 | www.tracyphelan.com

The Niagara real estate market had been one of the hottest in the Ontario housing sector in the fallout of the pandemic, with home prices soaring about 27 per cent between 2020 and 2021. Because many households were planting new roots in smaller communities, there was some expectation that the Ontario town could sustain this momentum. However, in recent months, the Niagara real estate market has stabilized as price growth has been modest, and sales activity has plummeted amid an environment of high interest rates. Now that mortgage rates are expected to come down over the next 12 to 24 months, what does the…

Are you are planning on putting your house on the market this spring? If you are, then now is the time to get started. As your professional agent for all your Niagara real estate needs, there are several things you can do to make your home stand out from the rest. Here’s how to get a quick sale at or close to full market value. Read on and get ready to turn that ‘For Sale’ sign into a ‘Sold’. Spring is often the most popular homebuying season. Birds are chirping, bulbs are peeking through the soil, and homebuyers are coming out of hibernation.…

The benchmark price of $617,000 is an enticing number for Niagara to attract first time home buyers and anyone looking for an affordable and beautiful place to call home. With the Bank of Canada holding the interest rate at 5% and expectations are they could possibly reduce that rate this year, we should be prepared for a somewhat typical spring market. With the many market changes seen in 2023 and with more expected in 2024, it’s vital to seek the advice and expertise of a professional. If you’re looking to buy or sell a home or just have questions about…

Niagara is experiencing a bit of a slower sales period during the beginning of the fourth quarter with more listings but less sales than last year,” reports Niagara Association of REALTORS® President, Amy Layton. “However, pent up demand is building in the region as people have begun to adjust to the higher cost of borrowing. We're continuing to see less of a gap year over year now than the sharper declines we saw in the third quarter of 2022.”   If you have any real estate questions or just want to chat about your home's current value. Give me a call I'm…

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…

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.…