SOURCE: August MLS® system reports of the Niagara Association of REALTORS®
Across all municipalities of Niagara the total number of residential transactions reported in August was 574 compared to last year’s figure of 597 units – representing a decline of 3.9%.
Year-to-Date Niagara Sales 1% Below 2012 Level
On a year-to-date basis, sales in Niagara are lagging just 1.0% below last year’s level with 4532 sales so far this year versus 4581 as of the same time period last year.
Unit Sales UP 14.3% in Pelham
Pelham monthly comparisons outperformed those of the Niagara Region as a whole. Unit sales of local residential properties continued on the upswing in August. With 16 transactions reported in Pelham this month compared to 14 last year, home sales were up 14.3%.
Welland Homes Sales UP 15% in AUGUST
It was also a positive month for housing sales in our neighbouring City of Welland with unit sales for the month surging 15% ahead of last year’s results. In total, there were 76 sales in Welland during the month of August this year compared to 66 last year.
In Pelham sales for the year are up 10.7% with 155 homes sold since January 1st this year compared to 140 last year . In contrast, year-to-date sales in Welland have dropped to 486 units – down 9.0% from the 534 transactions reported during the same time frame last year.
Average Price in Pelham UP 6.7%
The 12-month average price in Pelham now stands at $341,828– up 6.7% from the figure of $320,313 recorded in August 2012.
Average Price in Welland DOWN and Niagara Climbed 1.95%
The Welland 12 Month average price dropped slightly to $186,462 from $187,440 while the figure for all of Niagara climbed 1.95% from $239,492 to $244,170This article is part of our Series of “Real Estate View” Columns published in the Pelham News.
Categories: Real Estate Market Update