The dog days of summer are here, and our typical summer slowdown is in progress (people vacationing + interest rates increased).
Niagara had 1402 new listings in July as inventory moves upwards and sits at 4.3 months. Sales decreased 16% month over month and average sale prices remained flat.
Hamilton had 922 new listings in July and inventory stayed relatively the same at 2.4 months. Sales decreased 25% month over month and average sale prices rose slightly.
Haldimand had an increase in new listings in July (142) and inventory rose sitting at 4.5 months. Sales decreased 24% month over month and average sale prices increased.
The Following are crucial navigating the current real estate market:
– Individual markets vary significantly and current statistics are crucial (Seller / Balanced / Buyer)
– Many properties are not being priced according to current conditions, relisted, cancelled, the Over-Promise & Under-Deliver
– Prices are stable but buyers have more to choose from
Review current market conditions below and speak with your Royal LePage NRC REALTOR® for continued advice.
Niagara-on-the-lake
Unit Sales: -4%
Average Sale Price: -8%
Niagara Falls
Unit Sales: -22%
Average Sale Price: -16%
Fort Erie
Unit Sales: -9%
Average Sale Price: -18%
St. Catharines
Unit Sales: -14%
Average Sale Price: -15%
Thorold
Unit Sales: +6%
Average Sale Price: -15%
Pelham
Unit Sales: -8%
Average Sale Price: -16%
Welland
Unit Sales: -9%
Average Sale Price: -12%
Port Colborne
Unit Sales: -8%
Average Sale Price: -16%
Lincoln
Unit Sales: 0%
Average Sale Price: -23%
West Lincoln
Unit Sales: -11%
Average Sale Price: -13%
Grimsby
Unit Sales: -8%
Average Sale Price: -15%
Dunnville
Unit Sales: -19%
Average Sale Price: -11%
Hamilton
Unit Sales: -22%
Average Sale Price: -13%
Ancaster
Unit Sales: -8%
Average Sale Price: +3%
Stoney Creek
Unit Sales: -16%
Average Sale Price: -15%
Glanbrook
Unit Sales: -3%
Average Sale Price: -17%