The housing market here in niagara continues to be a strong one and The Niagara Association of Realtors reported 1,038 property sales processed through the NAR Multiple Listing Service system in June.
This means there has been a 13.1% increase in sales over June of last year. The residential average sale price of $312,683 was 13.2% higher than last June. The average days on market decreased from 47 to 40 in the residential freehold market and increased from 79 to 114 in the condominium market.
“The trend of fewer listings continued in June leaving a low inventory in Niagara,” Carolyn Bones-Poley, CEO, Niagara Association of REALTORS®. “With fewer listings and a higher number of sales the Niagara residential real estate market continues to be strong.”
“This is definitely a seller’s market,” said Niagara Association of REALTORS®, President Patrick Dummitt. “The average days on market decreased by 17% compared to June 2015. At the same time the average sale price increased by 13% compared to June 2015. With fewer listings the number of sales increased by 100 June 2016 compared to June 2015.”
Details below are in this graph:
Great news for home owners thinking to sell. For buyers, not so much right now. Do you think the trend will continue?
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