The Spring Market is Still Alive and Well in Niagara!
The real estate market for the month of June was steady with sales exceeding last June by more than 9%. Year to date the market is up 2% overall with Port Colborne showing a 33% increase.
The year to date average of a single family home in the region now stands at $250,217 up 5.5% over last year. Inventory levels in St. Catharines are less than 3 months which is low for this time of year. Grimsby & Stoney Creek inventory levels are less than 2 months.
Based on a sales-to-new listings ratio of between 40 and 71%, most of the local markets were in balanced territory. However, for the month of June the ratios were much higher indicating a slide into a seller’s market.