MARKET REPORT: OCTOBER 2019 - NIAGARA ASSOCIATION OF REALTORS®

MEDIA RELEASE
For immediate release

Residential sales data continues to be stable

St. Catharines, ON (November 4th, 2019) - Residential home sales activity recorded through the MLS® system for The Niagara Association of REALTORS® (NAR) totaled 626 units in October 2019. This was an increase of 14.86% from October 2018.

“While maintaining average levels, the number of Home sales in Niagara did increase slightly in October”, said Deanna Gunter, President of the Niagara Association of REALTORS®. “That said, with supply still limited it remains a challenging market for buyers. Moderate sales figures likely reflect the combination of tight supply and rising prices.”

The MLS® Home Price Index (HPI), tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price for the Niagara region was $421,500 in October 2019. This was an increase of 7.25% compared to October 2018.

The characteristics of the HPI composite benchmark is a home between the age of 51 to 99 with three bedrooms and two bathrooms. A full list can be found in the accompanying chart.

REALTORS® listed 1076 residential properties in Niagara jurisdiction last month, a decrease of 5.11% compared to October 2018. The average days it took to sell a home in October was 44 days, compared to 48 days in October 2018.

Please refer to the accompanying chart for residential market activity in select areas in NAR’s jurisdiction. Note: these statistics now include the Township of West Lincoln.


About The Niagara Association of REALTORS® The Niagara Association of REALTORS® represents over 1200 REALTORS® serving the communities of Fort Erie, Fonthill/Pelham, Lincoln, Niagara Falls, Niagara-on-the-lake, Port Colborne/Wainfleet, St Catharines, Thorold and Welland. Our mission is to empower REALTORS® to thrive. Our vision is to foster an environment where leadership and members provide influence, advocacy, enhance professionalism and business acumen.

Contact: Deanna Gunter, President
The Niagara Association of REALTORS®
116 Niagara Street, St. Catharines, ON, L2R 4L4
Tel: (905) 684-9459
[email protected]

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