The Niagara Association of REALTORS® (NAR) reported 666 property sales processed through the NAR Multiple Listing Service (MLS®) system in October. This represents a 16.2 % increase in sales over October of last year.
The residential average sale price of $280,428 was 10.6% higher than last October. The average days on market decreased from 57 to 55 in the residential freehold market, and increased from 46 to 57 in the condominium market.
Please refer to the accompanying chart for residential market activity in select areas in NAR’s jurisdiction.
Total sales, average sale price and days on market comparison of October 2014 and October 2015 in all jurisdictions of the Niagara Association of REALTORS®.
The Niagara Association of REALTORS® (NAR) was established in 2002 after an amalgamation of three area boards including the St. Catharines District Real Estate Board, the Niagara Falls-Fort Erie Real Estate Board and the Welland District Real Estate Board. NAR represents more than 965 real estate brokers and sales representatives in Niagara. Members of the association use the REALTOR® trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics. The association operates the local MLS® in partnership with surrounding local associations in Southern Ontario. In addition, NAR supports several local, shelter- based organizations including Habitat for Humanity Niagara.
Categories: Real Estate Market Update