The Niagara Association of Realtors (NAR) reported 633 property sales processed through the NAR Multiple Listing Service (MLS®) system in August.
Compared to last August of 2017, this is a 25.8% decrease in sales, although the residential average sale price of $391,065 was 17% higher than last August. The average days on market decreased from 35 to 31 in the residential freehold market and decreased from 76 to 33 in the condominium market. The chart below breaks down market in various niagara areas:
BOTTOM LINE: “The Niagara real estate market continues to see a seasonal adjustment from the high volumes experienced in the first quarter to a more balanced market heading into the fall,” said Randy Mulder, President of the Niagara Association of REALTORS®.
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