The Market Amazes in July Real Estate Report

Sales activity of single family residential homes in the Niagara Region for the month of July exceeded last year’s levels by 22%.  The first time Buyers have finally entered the market and more than 43% of the reported sales were below $200,000.

Year to date, as of July 31^st, the average sale price for a single family residential home was $250,754 versus the $236,342 reported last year, an increase of 5.7%.

Grimsby & Stoney Creek are showing a 15% increase in sales year over year & both have a Sales to Listings ratio of 69%.  Inventory levels in these markets are low & as expected it is close to a seller’s market.