Thank-you for (re)visiting this page. We have assembled this information in an effort to keep you informed with the most recent and relevant data regarding the Niagara real estate market.
After a wild ride in the first half of 2021, the overall market conditions are returning towards something resembling normal.
If you've followed our reports, you'll remember that March and April produced record numbers in terms of the number of homes listed and sold. That pace can't go on forever so the return towards typical volume was something we expected to see at some point.
When you pull back the scope somewhat, you'll see that the number of new listings, in particular in St. Catharines, is now historically weak which when put up against sustained buyer demand has only extended this run of strong price gains.
Almost every municipality in Niagara saw prices up 20 - 40% this summer (compared to last summer) except for Niagara-on-the-Lake and Lincoln both of which had relatively tepid gains of 0.3% and 7.7% respectively.
These reports have a look at June through August for 2021 in comparison to the same time in 2020. You'll see new listings and sales are in negative territory across the region aside from Thorold which saw a 1% gain in new listings.
The time to sell was significantly quicker this summer than last with the region posting a quick 21 days on average which is just over 3 weeks faster than last summer. That along with low new listing inventory makes the market look even more lean as For Sale signs don't last nearly as long as normal before they're changed to Sold.
Have a read through. Questions or comments are always welcome.
If you'd like to chat with one of our Realtor team, please do not hesitate to reach out anytime.
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