Market Report: September 2019 - Niagara Association of REALTORS®

For immediate release

Niagara Region home sales edge down in September

St. Catharines, ON (October 15th, 2019) - Residential home sales activity recorded through the MLS® system for The Niagara Association of REALTORS® (NAR) totaled 586 units in September 2019. This was an increase of 0.32% from September 2018.

“Niagara region home sales fell back in September following some better monthly sales figures this summer,” said Deanna Gunter, President of the Niagara Association of REALTORS®. “It remains a challenging market for buyers. Slowing sales may simply reflect the combination of limited 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 $422,900 in September 2019. This was an increase of 8.13% compared to September 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 1055 residential properties in Niagara jurisdiction last month, an increase of 9.67% compared to September 2018. The average days it took to sell a home in September was 44 days, compared to 42 days in September 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]