UNIT SALES AND AVERAGE SALE PRICE UP DOUBLE DIGITS GOING INTO FALL
The single family residential market for the first 3 quarters of 2016 saw sales up 16.8% & average sale price increase of 15.6%.
New Listings Year to Date: 8859 (-5.6%)
Unit Sales Year to Date: 7451 (+16.8)
Average Sale Price Year to Date: $327,243 (+15.6)
The 7451 unit sales consisted of 731 condos, 821 apartment/attached, 5899 detached.
The number of active listings at the end of September was 1215 which represents an average of 1.5 months of supply in the marketplace region wide indicating a strong sellers’ market. Niagara Falls, St. Catharines, and Welland lead the way with just over 1 month of active inventory. As we head into the home stretch this year we are still seeing many homes selling at or above list price.
Our Area will continue to be one of the best real estate markets in the province providing great value, amenities, lifestyle, and transportation options.