The Niagara Association of REALTORS® (NAR) reported 605 property sales processed through the NAR Multiple Listing Service (MLS®) system in February 2016. This represents a 32.7% increase in sales over February of last year.
The residential average sale price of $289,841 was 12.6% higher than last February. The average days on market decreased from 65 to 54 in the residential freehold market and from 103 to 86 in the condominium market.
Please refer to the accompanying chart for residential market activity in select areas in NAR’s jurisdiction.
Categories: Real Estate Market Update