June 12, 2015, Niagara- The Niagara Association of REALTORS reported 862 property sales processed through the Multiple Listing Service (MLS) system in MAY. This represents a 20.1% increase in sales over MAY of last year.
The residential average sale price of $273,661 was 7.6 per cent higher than last MAY. The average days on market DECREASED from 56-53 days on market in the residential freehold market, and from 59-65 in the condominium market. These figures are taken from the following areas; Fort Erie, Fonthill/Pelham, Lincoln, Niagara Falls, Niagara-on-the-Lake, Port Colbourne/Wainfleet, St. Catharines, Thorold and Welland. Please contact us if you would like more specifics from these regions.
Market Activity for Niagara-on-the-Lake
Niagara-on-the-Lake homes listed and sold
# of sales in MAY 2014 - 34
# of sales in MAY 2015 - 49
Average sale price 2014 - $470,842
Average sale price 2015 - $485,406
Average days on market 2014 - 156
Average days on market 2015 - 108
*Therefore there was approximately a 30% increase in selling price and 44% more homes sold this MAY as compared to those that sold in 2014. And the average days on market decreased by 44%.
***The most popular (trendy) streets to live on in Niagara-on-the-Lake are Bay Berry, James Drive, Lucia Court, Harmony and Gage Street.