MARKET STATISTICS
If you're thinking about buying or selling your home, you are probably wondering, is now a good time? Knowing what's happening in the current real estate market will help you to answer that important question before moving forward.
BUYER'S
MARKET
When there are more homes for sale (supply) than there are buyers (demand) for them. This gives buyers an advantage because there is more inventory to choose from. Prices typically remain stable or sometimes even soften in this market, as sellers may be more open to negotiating.
BALANCED
MARKET
When there are is an even number of buyers and sellers in the market creating a fairly equal level of supply and demand. In this market, homes sell in a reasonable time frame and prices typically remain stable. This is a healthy real estate market, one that is good for both buyers and sellers.
SELLER'S
MARKET
When there are more buyers (demand) than there are current homes for sale (supply). This puts sellers in the driver’s seat. Prices strengthen or increase because there are so many people wanting to buy. Homes typically sell quicker and in many cases with competing offers.
MARCH 2023
REAL ESTATE STATS
In the past month, we have begun to trend back toward a seller's market. We believe this will shift back to a balanced market next month. Homes sat on the market for an average of 71 days, with an average sale price of $709,976 (which is a 22% decrease year to date).
FEBRUARY 2023
REAL ESTATE STATS
While we are leaning slightly towards a seller's market, we do believe it is still a balanced market, which is good for both buyers and sellers. Homes sat on the market for an average of 75 days, with an average sale price of $656,344 (which is a 24% decrease year to date).
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JANUARY 2023
REAL ESTATE STATS
As expected due to recent trends, statistics indicate that we are in a balanced market, which is good for both buyers and sellers. Homes sat on the market for an average of 81 days, with an average sale price of $637,067 (which is a 25% decrease year to date).
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DECEMBER 2022
REAL ESTATE STATS
While the year-to-date statistics show that it is a seller's market, we expect that early 2023 will indicate that it is a balanced market. Homes sat on the market for an average of 30 days, with an average sale price of $787,782 (which is an 11% increase year to date).
NOVEMBER 2022
REAL ESTATE STATS
Statistics indicate there is still a slight edge to sellers in this market, but we believe it is actually more of a balanced market that offers room for negotiations on both sides. Homes sat on the market for an average of 27 days, with an average sale price of $791,478 (which is a 12% increase year to date).
OCTOBER 2022
REAL ESTATE STATS
Current statistics show that we are still in a seller's market, but we are trending towards a balanced market. Homes sat on the market for an average of 26 days, with an average sale price of $799,039 (which is a 13% increase year to date).
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SEPTEMBER 2022
REAL ESTATE STATS
We are trending towards a more balanced market each month. Homes sat on the market for an average of 24 days, with an average sale price of $808,988 (which is a 16% increase year to date).
AUGUST 2022
REAL ESTATE STATS
While the statistics indicate that it is a seller's market, we feel that we are in more of a balanced market that allows for more negotiations on both sides. Homes sat on the market for an average of 21 days, with an average sale price of $819,059 (which is an 18% increase year to date).
JULY 2022
REAL ESTATE STATS
Current statistics show that we are still in a seller's market, but we are trending towards a balanced market. Homes sat on the market for an average of 19 days, with an average sale price of $830,715 (which is a 20% increase year to date).
JUNE 2022
REAL ESTATE STATS
While the statistics indicate that we are still in a seller's market, we are moving closer to a balanced market and have noticed that change impact how quickly homes have been selling. Homes sat on the market for an average of 18 days, with an average sale price of $841,002 (which is a 22% increase year to date).
MAY 2022
REAL ESTATE STATS
While a seller's market continued to hold strong across the Niagara Region real estate market in the month of May, there has been a noticeable trend that indicates we are heading to a balanced market. Homes sat on the market for an average of 17 days, with an average sale price of $854,950 (which is a 24% increase year to date).
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APRIL 2022
REAL ESTATE STATS
A seller's market has been holding strong across the Niagara Region real estate market in the month of April. Homes sat on the market for an average of 17 days, with an average sale price of $858,663 (which is a 25% increase year to date).