The Niagara Association of REALTORS® (NAR) reported a 19.64 % increase in sales over September of last year in the niagara region!
This number represents, 853 property sales processed through the NAR Multiple Listing Service (MLS®) system. Other good news? The residential average sale price of $349,113 was 25% higher than last September, the average days on market decreased from 55 to 35 in the residential freehold market and decreased from 81 to 73 in the condominium market.
Carolyn Bones-Poley, CEO, Niagara Association of REALTORS® said about the results: “The fast pace of our market is continuing strong,” said . “A low listing inventory is driving the average residential sale price upward, with a 25% increase between September 2015 and 2016.
Added to this multiple offers continue to be something that is seen often in the market and helps drive the prices up as low supply and high demand dominate!
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