Royal LePage Niagara Reports the Highest Sales in May since 2007!
The spring market has finally arrived and Royal LePage Niagara had a great month of May. The Niagara Real Estate Board showed a 1% rise in sales activity year over year and a 10% increase in May 2014 over May of 2013.
The year to date average of a single family home in the region now stands at $247,979. That”s up 6.1% over last year. Prices are expected to remain at current levels with some areas seeing small percentage increases.
Based on a sales-to-new listings ratio of between 40 and 71%, most of the local markets were in balanced territory. However, the Grimsby & Stoney Creek communities are very close to becoming a Sellers market.