It’s been a banner Spring for home sales in Niagara! According to the MLS statistics of the Niagara Association of Realtors year-to-date sales have climbed 13% with 2065 transactions reported during the first four months of this year compared to 1826 last year.
Niagara’s 12-month average price is also on the rise. Currently at $258,986 the 12-month average price in Niagara represents a gain of 5.7% over last April’s tally of $244,996. The average days on the market for the homes that sold shifted to 61 days compared to 65 days on average a year ago.
A Closer Look at our Local Pelham and Welland Market:
Year-to-date sales are up 17% in the Town of Pelham with 75 residential sales reported so far this year. Last year the total for the same time period was 64 units. The April 12-month average price in Pelham stands at $387,985 up 12.4% over last year’s figure of $345,054.
Home sales in the Rose City are up 3.75% over last year with 240 units sold so far this year compared to 231 between January and April 2014. The 12-Month average price in Welland reached $204,516 in April representing a jump of 9.4 % over last year’s figure of $186,980.
With our average price in Niagara standing at less than half of the Toronto Real Estate Board April average of $635,932 our local market continues to be fuelled by Buyers relocating from the GTA. Expect this trend to continue as the peak retirement years of the Baby Boomer generation still lie ahead.
Categories: Real Estate Market Update