In a market that is changing like ours, we are trying to look back in 90 day or year-to-date segments. Looking at 30 day time periods is too small a sample size, at least in our un-official opinion!

For the last 90 days (Aug 1 – Oct 31) we looked at year over year for 2015 to 2016 to 2017. Some interesting and consistent trends are still taking place across Niagara. In (very) general terms, price went up and then up again. Sales went up and then pulled back while days on the market continues to decrease or stay very close to the lower amounts in 2016.

Here is some of the data for August 1 – October 31, looking back to 2015:

St. Catharines

Number of Sales

2015   622

2016   627

2017   501

 

Average Sale Price

2015   $264,000

2016   $320,000

2017   $368,000

 

Days on Market

2015   44

2016   26

2017   30

 

Niagara Falls

Number of Sales

2015   414

2016   543

2017   344

 

Average Sale Price

2015   $273,000

2016   $353,000

2017   $363,000

 

Days on Market

2015   57

2016   34

2017   35

 

Fonthill/Pelham

Number of Sales

2015   74

2016   73

2017   66

 

Average Sale Price

2015   $404,000

2016   $475,000

2017   $540,000

 

Days on Market

2015   61

2016   25

2017   31

 

Welland

Number of Sales

2015   245

2016   277

2017   225

 

Average Sale Price

2015   $217,000

2016   $257,000

2017   $297,000

 

Days on Market

2015   47

2016   27

2017   35

 

Niagara-on-the-Lake

Number of Sales

2015   105

2016   110

2017   76

 

Average Sale Price

2015   $495,000

2016   $657,000

2017   $874,000

 

Days on Market

2015   85

2016   67

2017   41

 

Vineland/Jordan

Number of Sales

2015   81

2016   75

2017   77

 

Average Sale Price

2015   $383,000

2016   $457,000

2017   $501,000

 

Days on Market

2015   37

2016   30

2017   32

 

Thorold

Number of Sales

2015   93

2016   141

2017   82

 

Average Sale Price

2015   $245,000

2016   $324,000

2017   $346,000

 

Days on Market

2015   55

2016   24

2017   37

 

Fort Erie

Number of Sales

2015   189

2016   246

2017   134

 

Average Sale Price

2015   $230,000

2016   $274,000

2017   $326,000

 

Days on Market

2015   69

2016   53

2017   47

 

We will watch with interest how the remainder of 2017 fairs. Things to watch include GTA and nearby markets (Hamilton, Oakville & Burlington in particular), how the new financing regulations coming in January will affect the overall climate, supply and demand factors locally and the weather. Big winters or really wet, messy springs can delay markets too, which we have seen a few times in the last 4 or 5 years.
As always, 2 things apply.

1. The market has and always will change whether that is pricing, number of sales, supply and demand factors, external pressures or otherwise.

2. We are here to help. A big part of our day-to-day existence is spent reviewing, monitoring and tracking sales and big picture data for our local real estate market.

If you would like to meet anytime to discuss the market, your home, or real estate in general, please do not hesitate to contact us.