The Niagara Association of REALTORS® (NAR) reported a 19.64 % increase in sales over September of last year in the niagara region!

 

This number represents, 853 property sales processed through the NAR Multiple Listing Service (MLS®) system.  Other good news?  The residential average sale price of $349,113 was 25% higher than last September, the average days on market decreased from 55 to 35 in the residential freehold market and decreased from 81 to 73 in the condominium market.

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Carolyn Bones-Poley, CEO, Niagara Association of REALTORS® said about the results: “The fast pace of our market is continuing strong,” said . “A low listing inventory is driving the average residential sale price upward, with a 25% increase between September 2015 and 2016.

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Added to this multiple offers continue to be something that is seen often in the market and helps drive the prices up as low supply and high demand dominate!

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