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…

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

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…

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.…