Royal LePage Niagara Real Estate Centre, Brokerage Residential Real Estate Market Statistics for October 2014. Niagara Association of Realtors® / Realtors® Association of Hamilton & Burlington. Helping You Is What We Do.
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Royal LePage Niagara helped 5,490 Clients Buy & Sell in 2014!!
The 2014 real estate market in the Niagara Region was the best we have seen in a number of years. Sales units exceeded last year by 8% and the average sale price for a residential home was up 5.1%
The 1st & 2nd quarters showed slower activity when compared to the same periods a year ago however, the last 6 months have been brisk with each month showing healthy increases year over year. The Regional average sale price of a single family residential home was $252,546, that’s $12,000 higher than 2013.
The Grimsby, Stoney Creek and West Lincoln/Smithville areas showed increases from 4.5% to 11.7% in average sale prices, and the new listings to sales ratios range from 60% to 94% indicating a seller’s market. The remainder of the region is in a balanced market where the ratios range from 45% to 75%.
Looking ahead for 2015, the Niagara Region is expected to be strong with a steady increase in sales units and average sale prices. Royal LePage Real Estate Services is forecasting a 2.9% price growth across the country, but that increase is tempered by the impact of expected falling house prices in Alberta.
Current inventory levels are low in most of the Niagara Region which will make it difficult for buyers to find the right home. Property owners considering a move this year should be listing now or within the next 30 days while supply is low and demand is high.
|District||Average Sale Price||List to Sale Price||Days On Market||Days of Inventory||Listings To Sales Ratio|
|Niagara Falls||$240,789||97%||63||5.8 months||63%|
|Niagara On The Lake||$481,549||97%||90||10.3 months||45%|
|Fort Erie||$215,644||95%||90||7.0 months||53%|
|Port Colborne||$214,827||95%||79||5.0 months||62%|
|Fonthill / Pelham||$377,144||97%||74||8.6 months||52%|
|Stoney Creek||$357,192||98%||38||2.6 months||73%|
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