Niagara Housing Market is Up 38.5%

Dated: August 29 2020

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Residential home sales activity recorded through the MLS® system for The Niagara Association of REALTORS® (NAR) totaled 993 units in July 2020. This was an increase of 38.5% from July 2019.

 

“Home ownership is still very much on the minds of Niagara's families. Year over year although the number of new listings in July were down slightly by 4.25%, the number of sales rose by 38% , in turn moving the Home Price Index up in all but 2 of the 10 markets covered by the Niagara Association of Realtors®️. As Niagara has moved into Stage 3 of the COVID-19 reopening, we look forward to a stronger market.” Said Terri McCallum, President of The Niagara Association of REALTORS®.

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 $473,500 in July 2020. This was an increase of 13.4% compared to July 2019. The characteristics of the HPI composite benchmark is a home between the age of 51 to 99 with three bedrooms and two bathrooms. A full list can be found in the accompanying chart.

REALTORS® listed 1,171 residential properties in Niagara jurisdiction last month, a decrease of 4.3% compared to July 2019. The average days it took to sell a home in July was 39 days, compared to 39 days in July 2019.

all information from this blog post and all statistics sourced directly from : The Niagara Association of REALTORS

Note: these statistics now include the Township of West Lincoln.

About The Niagara Association of REALTORS® The Niagara Association of REALTORS® represents over 1300 REALTORS® serving the communities of Fort Erie, Fonthill/Pelham, Lincoln, Niagara Falls, Niagaraon-the-lake, Port Colborne/Wainfleet, St Catharines, Thorold and Welland. Our mission is to empower REALTORS® to thrive. Our vision is to foster an environment where leadership and members provide influence, advocacy, enhance professionalism and business acumen.

Contact: Terri McCallum, President The Niagara Association of REALTORS® 116 Niagara Street, St. Catharines, ON, L2R 4L4 Tel: (905) 684-9459 terrimccallum@royallepage.ca

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Sheena Cimino

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