The 2015 real estate market in the Niagara region continued its’ brisk pace thru-out the summer months with unit sales of residential homes exceeding 2014 levels by 13.6% (year over year)
The Regional average sale price of a single family residential home was $295,797, $26,441 higher than 2014, for an overall year over year increase of 9.8%.
The Niagara Association of Realtors reported an 18% increase in unit sales & an 8.5% jump in the average sale price, $274,037 versus last year
The Grimsby, Stoney Creek, West Lincoln, Smithville areas were flat year over year
in sales units with a marginal decrease in the smaller communities. The Average Sale Price for those markets rose anywhere from 6.4% to 13.9%
Overall, the region is in more of a seller’s market with a yearly average “list to sales ratio” of 70% however, the month of September showed stronger sales compared to the number of new listings resulting in a strong sellers market with the ratios ranging from 64% to 85%.