Across Niagara September home sales jumped 17.6% with he Niagara Association of REALTORS® (NAR) reporting a total of 667 residential sales processed through the NAR Multiple Listing Service (MLS®) system in September compared to 567 last year.
In September, residential sales in Welland and Pelham climbed 22% and 73% respectively. Please refer to the chart below for residential market activity in select areas in NAR’s jurisdiction.
As we enter the fourth quarter year-to-date sales are on track to significantly outpace 2014 levels.
Niagara Year-to-Date Sales UP 17%
Across Niagara year-to date there have been 4961 residential transactions reported compared to a total of 5807 in 2014, representing a 17% spike in regional activity.
Welland Year-to-Date Sales UP 8.3%
Sales in the Rose City climbed 8.3% so far this year with 663 transactions reported between January and September compared to 612 last year.
Pelham Year-to-Date Sales UP 12.4%
In Pelham, total unit sales jumped 12.4% with 217 residential transactions in Pelham between January and September compared to 193 last year.
12-Month Average Prices on the Rise
The Niagara 12-month average price in the areas serviced by the Niagara Association of REALTORS® (all of the Niagara municipalities excepting Grimsby) now stands at $269,610 climbing 7.3% from the 12-month average price of $251,181 recorded in September 2014.
The 12-month average price in the Rose City is up 9.0% rising to $212,806 from $195,160 in 2014. In Pelham the 12-month average price reached $411,230 compared to $363,166 in 2014 – representing an annual price growth rate of 13.2%.
Categories: Real Estate Market Update