The Niagara Association of REALTORS® (NAR) reported 862 property sales processed through the NAR Multiple Listing Service (MLS®) system in May. This represents a 20.1% increase in sales over May of last year.
The residential average sale price of $273,661 was 7.6% higher than last May. The average days on market decreased from 56 to 53 in the residential freehold market, and increased from 59 to 65 in the condominium market.
Please refer to the accompanying chart for residential market activity in select areas in NAR’s jurisdiction.
May Results in our Local Welland/Pelham Area:
Pelham UP 16.7% from 30 sales in May 2104 to 35 sales in May 2o15
Welland UP 13.8% from 79 sales in May 2104 to 88 sales in May 2o15
Categories: Real Estate Market Update