Niagara Association of REALTORS® October Market Report November 8th, 2017, Niagara
The Niagara Association of REALTORS® (NAR) reported 577 property sales processed through the NAR Multiple Listing Service (MLS®) system in October. This represents a 23.17% decrease in sales compared to October of last year. The residential average sale price of $387,001 was 9.97% higher than last October. The average days on market increased from 34 to 39 in the residential freehold market and decreased from 51 to 46 in the condominium market. “New mortgage guidelines are on the horizon and the impact, if any, of those new guidelines remains unknown,” said Carolyn Bones-Poley, CEO, Niagara Association of REALTORS®. “Buyers and sellers considering a move should contact a REALTOR® to discuss the new mortgage guidelines and how they may impact your real estate purchase,” said Bones-Poley. Please refer to the accompanying chart for residential market activity in select areas in NAR’s jurisdiction.