The Niagara Association of REALTORS® (NAR) reported 547 property sales processed through the NAR Multiple Listing Service (MLS®) system in September.
This represents a 35.95% decrease in sales compared to September of last year. The residential average sale price of $405,480 was 12.42% higher than last September. The average days on market decreased from 47 to 42 in the residential freehold market and decreased from 73 to 28 in the condominium market.
“The market continues to be more balanced in September,” said Carolyn Bones-Poley, CEO, Niagara Association of REALTORS®. “The number of new listings continues to increase while the number sales is decreased,” said Bones-Poley. “The average sale price has not dropped and continues to increase with September this year having a 12.42% increase over September of 2016.”
“September’s statistics show that Niagara continues to be a region where both buyers and sellers can participate in the sale of real estate with confidence,” said Randy Mulder, President of the Niagara Association of REALTORS®. “There has been little to no back-drag of pricing as the things cooled off, and today’s balanced market provides great opportunities, provided you enlist the assistance of a professional REALTOR®.”
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