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…

Today, more and more people are opting to downsize their living spaces in the fast-paced world. Downsizing can have many benefits, whether it's driven by a desire for a simpler lifestyle, the need to reduce expenses, or preparing for retirement. At Tracy Phelan RE/MAX Garden City Realty Inc., we understand that downsizing is about more than just moving to a smaller property; it's about creating a more fulfilling and manageable life. In this guide, we will explore the advantages of downsizing and provide practical tips to help you transition smoothly.

"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…

When it comes to selling a home, setting the right price is a critical decision that can determine how quickly you sell and how much you get. Pricing your home effectively isn't just about choosing a number that you feel your home is worth; it involves understanding the market, the value of your property, and the psychology of potential buyers. In this comprehensive guide, we'll explore various strategies to help you price your home effectively, ensuring it attracts buyers while giving you a competitive edge in the real estate market.

When it comes to real estate, whether you're considering selling your home or just curious about your property's current market value, understanding the importance of a free home valuation cannot be overstated. In the dynamic real estate markets of St. Catharines, Niagara Falls, and the broader Niagara region, having accurate, up-to-date information about your home's value can significantly influence your financial decisions and strategies. Let's delve into why a free home valuation is a crucial tool for homeowners.

More great news for real estate as the Bank of Canada key interest rate drops another 25 basis points. Three consecutive cuts of 25 basis points each in 2024! With this most recent interest rate cut, now is a prime opportunity to sell, buy, or invest in real estate in the Niagara region. Lower rates make it easier for buyers to finance their dream homes, while sellers can attract more interest from motivated buyers. Whether you're looking to move, invest, or find your perfect home, this is an ideal moment to take advantage of the market. Find out how this impacts your…

Finding the right real estate agent in St. Catharines can be the difference between a seamless, enjoyable property buying or selling experience and a frustrating ordeal. St. Catharines, a city renowned for its vibrant community and beautiful landscapes, is a sought-after location for many potential homeowners and investors. This guide will walk you through the essential steps to identify a top real estate agent in St. Catharines who can cater to your specific needs.

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…

Nestled between the vibrant cityscapes of Toronto and Hamilton and the tranquil beauty of nature's wonders like Niagara Falls, the Niagara region offers a unique blend of opportunities for real estate investors. With its rich history, booming tourism industry, and expanding local economy, Niagara is quickly becoming a real estate hotspot. Whether you're a seasoned investor looking to diversify your portfolio or a first-time investor seeking your initial property, Niagara has something to cater to your investment goals.

GREAT NEWS !!! The Bank of Canada today reduced its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is continuing its policy of balance sheet normalization. The global economy is expected to continue expanding at an annual rate of about 3% through 2026. While inflation is still above central bank targets in most advanced economies, it is forecast to ease gradually. In the United States, the anticipated economic slowdown is materializing, with consumption growth moderating. US inflation looks to have resumed its downward path. In the euro area,…

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.…

Are you looking to sell your home in Niagara but worried about the time it might take? In today's fast-paced real estate market, having a strategy to expedite your home sale can significantly enhance your selling experience and financial outcomes. With over 30 years of helping families in Niagara, I’ve gathered some essential tips that can help you sell your home quickly and efficiently. Here’s how you can stand out in the bustling Niagara real estate market.

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…

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…

The Niagara Real Estate Market Report Year over Year April 2024 New listings in the Niagara Region were 1396 in April 2024 vs 991 in April 2023, which is a increase of 40.9% Residential home sales in Niagara totaled 602 homes in April 2024 compared to 560 in April 2023, which is a increase of 7.5% The average HPI composite benchmark* price was $644,700 in April 2024, compared to $654000 in April 2023, which is a decrease of 1.4% The Niagara Real Estate Market Report Month to Month, April 2024 vs March 2024. New listings in the…

Downsizing your home usually signifies a major transition: the need for a simpler life, financial considerations in retirement, or the nest becoming empty as children move out of the house. When selling your home, it’s not merely the physical task of moving or getting rid of possessions that makes this process difficult; it’s the emotional journey that accompanies it. There are so many emotions associated with downsizing, so it will take insights and strategies to get started on this significant life change. There are the complexities of emotional attachments to possessions, the stress of decision-making, and the process of grieving while embracing new…

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…