St. Catharines, ON (April 2nd, 2020) - Residential home sales activity recorded through the MLS® system for The Niagara Association of REALTORS® (NAR) totaled 535 units in March 2020. This was a decrease of 9.63% from March 2019.
"Although the last week of March saw a 38% drop in the number of units sold, average sale price is holding steady and some sellers are still receiving multiple offers.” Said Deanna Gunter, President of the Niagara Association of REALTORS®.
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 $448,000 in March 2020. This was an increase of 11.14% compared to March 2019.
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 908 residential properties in Niagara jurisdiction last month, a decrease of 7.35% compared to March 2019. The average days it took to sell a home in March was 37 days, compared to 41 days in March 2019.
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.