Sellers Market Continues for July

July 2016 Regional Residential MLS Sales

July 2016 Regional Residential Market Update

July 2016 Regional Residential Infographic

The July sales for Single Family Residential homes were 21% higher than last July but 12% below the sales activity for June.

The average sale price year to date was $321,212 up 14.5% over 2015. And sales exceeded last year by 21%. We are still in a strong sellers market with the sales to listings ratio ranging from 75% to a high of 135% in the districts within the region.

Inventory levels are still low compared to the demand resulting in sale prices exceeding the list price.  In St Catharines 43% of the homes sold over the list price and in Niagara Falls the percentage was 32%,  in most cases this indicates multiple offer situations.