1419 residential properties were listed in May 2017 representing an increase of 30% over April. Unit Sales are not slowing down as we head into summer months, up 15.6% over last month and closely inline with 2016 year to date figures. The average sale price is currently $408,449 or an increase of 30% over the same period last year. 1131 listings remained active at the end of May which represents 1.4 months of inventory based on current demand. We are still very much in a Sellers’ Market however the increase in inventory and average sale prices holding firm month to month indicate a gradual stabilization in local markets.
*Based on residential sales 2017 in Niagara/Dunnville as reported from ORTIS MLS®
This article was first published on https://nrcrealty.ca.