Niagara Real Estate Market Update

Author: Tracy Phelan, Broker RE/MAX Garden City Realty Inc. Brokerage | | Categories: #DontWaitTilSpring , #FreeHomeEvaluation , #GreatTimetoSell , #marketupdate , #RealEstateAdvice , #RealEstateMarket , #StCatharinesRealEstate

Blog by Tracy Phelan Broker RE/MAX Garden City Realty Inc. Brokerage

⭐️The Niagara Real Estate Market Report Month to Month, October 2022 vs September 2022⭐️

💥Month over Month, Niagara real estate has shown a small decrease in the benchmark price. The number of unit sales is slightly higher when compared to last month. This may be an indication of a trend towards stable pricing and sales in Niagara. 💥

🏡 Check out the monthly stats below:

New listings in the Niagara Region were 1038 in October 2022 vs 1177 in September 2022, which is a decrease of 11.8% ⬇️

Residential home sales totaled 410 in October 2022 compared to 399 in September 2022, which is a increase of 2.8%.⬆️

The average HPI composite benchmark* price was $653,500 In October 2022, compared to $661,900 in September 2022, which is an decrease of 1.3%.️️⬇️

⭐️The Niagara Real Estate Market Report Year over Year - October 2022 vs October 2021 ⭐️

New listings in the Niagara Region were 1038 in October 2022 vs 865 in October 2021, which is a increase of 20.%⬆️

Residential home sales in Niagara totaled 410 homes in October 2022 compared to 774 in October 2021, which is a decrease of 47.%⬇️

The average HPI composite benchmark* price was $653,500 in October 2022, compared to $680,600 in October 2021, which is a decrease of 4.%⬇️

✨ The characteristics of the HPI composite benchmark is a 1,276 sq. Ft. home between the age of 51 and 99 with 3 bedrooms and 2 bathrooms, and an attached single car garage. ✨

👉 If you are thinking of making a move, or just have any questions about the market , call me! I'm happy to help. (905) 321-6165



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