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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. [/vc_column_text][vc_table vc_table_theme=”classic_pink”]District,Average%20Sale%20Price,List%20to%20Sale%20Price,Days%20On%20Market,[b]Days%20of%20Inventory,Listings%20To%20Sales%20Ratio|St.Catharines,%24235%2C827,97%25,43,3.3%20months,64%25|Thorold,%24227%2C387,96%25,61,5.9%20months,60%25|Niagara%20Falls,%24240%2C789,97%25,63,5.8%20months,63%25|Niagara%20On%20The%20Lake,%24481%2C549,97%25,90,10.3%20months,45%25|Fort%20Erie,%24215%2C644,95%25,90,7.0%20months,53%25|Port%20Colborne,%24214%2C827,95%25,79,5.0%20months,62%25|Welland,%24198%2C219,96%25,61,4.3%20months,68%25|Fonthill%20%2F%20Pelham,%24377%2C144,97%25,74,8.6%20months,52%25|Lincoln,%24348%2C049,97%25,46,4.3%20months,75%25|Grimsby,%24374%2C515,98%25,46,2.5%20months,75%25|Stoney%20Creek,%24357%2C192,98%25,38,2.6%20months,73%25|Smithville,%24300%2C325,98%25,51,1.5%20months,94%25|[bg#ffffff]Dunnville,%24233%2C781,96%25,98,4.6%20months,66%25[/vc_table][/vc_column][vc_column width=”1/6″][/vc_column][/vc_row][vc_row][vc_column width=”1/3″][vc_column_text]
Carriage Trade and the Royal LePage Niagara Luxury Program is an exclusive real estate service for the most distinguished homes for sale in the region.[/vc_column_text][/vc_column][vc_column width=”1/3″][vc_column_text]
Royal LePage helped pioneer the growth and development of commercial real estate in Canada. Today, our commercial practice is built upon the experience, knowledge and performance of our dedicated Commercial practitioners.[/vc_column_text][/vc_column][vc_column width=”1/3″][vc_column_text]
Click here for more information about Royal LePage Niagara.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/3″][vc_column_text]WWW.HOMESNIAGARA.COM[/vc_column_text][/vc_column][vc_column width=”1/3″][vc_column_text]FACEBOOK.COM/ROYALLEPAGENIAGARA[/vc_column_text][/vc_column][vc_column width=”1/3″][vc_column_text]#NIAGARAREALESTATESTATS[/vc_column_text][/vc_column][/vc_row]