Niagara Association of REALTORS® December Market Report
January 9th, 2018, Niagara – The Niagara Association of REALTORS® (NAR) reported 403 property sales processed through the NAR Multiple Listing Service (MLS®) system in December. This represents a 14.98% decrease in sales compared to December of last year.
The residential average sale price of $386,055 was 21.48% higher than last December. The average days on market increased from 39 to 43 in the residential freehold market and decreased from 73 to 31 in the condominium market.
“December wrapped up what was a historical year in Niagara real estate,” said Randy Mulder, President of the Niagara Association of REALTORS®. “Heading into 2018, we have a more normalized market than a year ago, and navigating through this market requires sound advice from a REALTOR®.”
Please refer to the accompanying chart for residential market activity in select areas in NAR’s jurisdiction.
The Niagara Association of REALTORS® (NAR) was established in 2002 after an amalgamation of three area boards including the St. Catharines District Real Estate Board, the Niagara Falls-Fort Erie Real Estate Board and the Welland District Real Estate Board. NAR represents more than 1,100 real estate brokers and sales representatives in Niagara. Members of the association use the REALTOR® trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics. The association operates the local MLS® in partnership with surrounding local associations in Southern Ontario. In addition, NAR supports several local, shelter- based organizations including Habitat for Humanity Niagara. Advertisements of local MLS® property listings and information about the services provided by a REALTOR® can be found at www.REALTOR.ca. More information about NAR is available at www.NiagaraRealtor.ca.