Well, we are officially one month into the 2017 real estate market here in Niagara. Whether it is a home in St.Catharines, Fonthill or Fort Erie, we are seeing some interesting trends across the region.
Our market started to take off in January 2016, and we haven’t seen much sign of a slow-down. Almost across the board, we have experienced an increase in sales price, the total number of sales and a decrease in the days on the market. In some cases, the average sale prices have been up 20 to 28% with days on the market pushing down into the 2 or 3-week range.
For the month of January, that trend has continued. Some interesting numbers that caught our eye include the total number of sales in Niagara Falls which was unchanged at 95 while the average sale price for those properties was up nearly 18% at $329,000.
Welland saw a significant bump in both the total number of sales as well as the average sale price. Along with Fort Erie, many people are surprised to see the activity in those markets, but they are getting some serious attention. Notice that the average sale price for Fort Erie was up 26.7% to $313,000.
We will keep an eye on these trends as we go. Condo townhomes, new construction, bungalows, starter homes and high-end real estate are all experiencing a significant push in demand. If you are curious to find out info on your own property or a particular segment of the market, please feel free to reach out to one of our team today.
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