Current State of Niagara Real Estate
The Niagara Real Estate Market is hot! It is a Seller’s Market! Are you thinking of selling your home? Now is the time! Below I will discuss the current state of Niagara Real Estate, and review sales comparing April 2015 to April 2016. You will be amazed at the increases Niagara Real Estate has undergone lately!
The above graphic illustrates these important factors with the home sales of Niagara Region: Number of New Homes Listed, Number of Sales, Average Sale Price, and Average Days on Market before a Home was SOLD. This is comparing the homes sold in the month of April of 2015 and homes sold in Niagara Real Estate during the month of April in 2016.
This is showing us that across Niagara Region, the number of homes that are listed are down. There is low inventory currently for homes on the market. This is a contributing factor causing for a Seller’s Market. Also contributing to the Seller’s Market are the low mortgage interest rates. There are less homes on the market, and there has been more sales than the previous year. Economics 101: Demand is greater than the Supply! When demand outweighs the supply, prices increase.
Why Sell Now in the Current State of Niagara Real Estate?
Sales prices are also up almost 9 percent in Niagara Region! Imagine that. If I could earn 9 percent on my money, I wouldn’t need to sell houses! Homes are also selling quicker in Niagara Region! Last year in April homes took an average of 52 days to sell. This past April homes only took 41 days to sell. That is almost 20 percent quicker! The current state of Niagara Real Estate is… hot!
What does this all mean? Now is the time to sell! Contact me today directly at 289 969 1935 or click here.