Royal LePage Niagara January Press Release
Royal LePage Niagara Real Estate Centre Brokerage ended the year with an over all increase in sales of 5.6% over 2009 which was above the reported increase of 4% for the Niagara Association of Realtors.
The Canadian Real estate Association reported an average year over year drop of 3.9% in sales activity across Canada.
Residential MLS Reported Sales in Local Markets
Area | Unit Sales 2010 | Increase Over 2009 |
---|---|---|
Fort Erie | 476 | -.02% |
Fonthill/Pelham | 210 | .05% |
Lincoln | 268 | 13.6% |
Niagara On The Lake | 226 | -4.2% |
Niagara Falls | 1070 | 8.5% |
Port Colborne | 303 | -2.6% |
St. Catharines | 1583 | 0.1% |
Thorold | 281 | 16.6% |
Welland | 727 | 3.1% |
Grimsby | 394 | -6.6% |
Smithville | 96 | 33.3% |
Dunnville | 142 | 13.6% |
Niagara Region
The Average Sale price of a single family home rose to $225,259 from the $215,005 reported for the same period in 2009. This 4.8% rise in sale price is less than the 5.8% average price Increase for homes sold via the Canadian MLS Systems across the country. Locally the sales for Luxury Homes ($400,000 – 1 million plus) rose 35% while the number of homes sold under $200,000 was comparable to 2009 levels. This change in volumes by price range has caused the average price to be skewed upwards.
Most Markets in Niagara are described as balanced however Grimsby, Stoney Creek are still in a Sellers market as inventory levels remain low & Buyer demand is high.
Looking ahead for 2011, the Niagara Region is expected to have modest growth in sales with high demand in first half of the year. Recent changes to the Mortgage guidelines may affect some of the first time Buyers but the artificially low mortgage rates will encourage people to get into the housing market .
Agents Name
Sales Representative
Unit# 200 – 1335 Carling Ave.
Ottawa, Ontario
CanadaK1Z 8N8
Office: 613-725-1171
Toll Free: 1-800-307-1545
The trade marks displayed on this site, including CREA®, MLS®, Multiple Listing Service®, and the associated logos and design marks are owned by the Canadian Real Estate Association. REALTOR® is a trade mark of REALTOR® Canada Inc., a corporation owned by Canadian Real Estate Association and the National Association of REALTORS®. Other trade marks may be owned by real estate boards and other third parties. Nothing contained on this site gives any user the right or license to use any trade mark displayed on this site without the express permission of the owner.
powered by WEBKITS