Residential home sales activity recorded through the MLS® for the Niagara Association of REALTORS® (NAR) totalled 488 units in September 2024, compared to 372 in September 2023. In September, the Niagara Association of REALTORS® listed 1457 residential properties compared to 1366 in September 2023. The average days it took to sell a home in September 2024 was 44 days, a 18.9 % increase from September 2023. With over 2,900 active listings there are plenty of options for buyers to purchase in Niagara. The sales (488), days on market (44) and HPI Benchmark Price ($640,000) stayed relatively the same month over month with the…

GREAT NEWS !!! The Bank of Canada today reduced its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is continuing its policy of balance sheet normalization. The global economy is expected to continue expanding at an annual rate of about 3% through 2026. While inflation is still above central bank targets in most advanced economies, it is forecast to ease gradually. In the United States, the anticipated economic slowdown is materializing, with consumption growth moderating. US inflation looks to have resumed its downward path. In the euro area,…

Should you buy a home now or should you wait? That’s a big question on many people’s minds today. What timing is right for you may depend on a lot of personal factors but, here’s something you may not have considered: If you’re able to buy at today’s rates and prices, it may be better to focus on time IN the market, rather than timing the market. The Downside of Trying to Time the Market  Trying to time the market isn’t a good strategy because things can change. Here’s an example. For the better part of this year, projections have said mortgage rates will come down. And while experts agree that’s still…

Downsizing your home usually signifies a major transition: the need for a simpler life, financial considerations in retirement, or the nest becoming empty as children move out of the house. When selling your home, it’s not merely the physical task of moving or getting rid of possessions that makes this process difficult; it’s the emotional journey that accompanies it. There are so many emotions associated with downsizing, so it will take insights and strategies to get started on this significant life change. There are the complexities of emotional attachments to possessions, the stress of decision-making, and the process of grieving while embracing new…

Spring market is coming soon, and with it comes the perfect opportunity to make your real estate dreams a reality! With over 30 years of experience as a trusted real estate agent in the beautiful Niagara region, I've had the privilege of helping countless families find their dream homes and successfully sell their properties. Whether you're looking to buy or sell in the Niagara Region, my expertise and dedication are here to guide you every step of the way. Let's turn your real estate goals into a seamless and rewarding experience. Reach out today and let's make this spring your season of opportunity…

Are you are planning on putting your house on the market this spring? If you are, then now is the time to get started. As your professional agent for all your Niagara real estate needs, there are several things you can do to make your home stand out from the rest. Here’s how to get a quick sale at or close to full market value. Read on and get ready to turn that ‘For Sale’ sign into a ‘Sold’. Spring is often the most popular homebuying season. Birds are chirping, bulbs are peeking through the soil, and homebuyers are coming out of hibernation.…

Why Putting Off Listing Until Spring Could Actually Cost You Money Are you thinking of selling your home and don’t want to wait until the housing market starts to heat up this year? The conventional, traditional wisdom would warn you off. The housing market doesn’t really heat up until summer, or so the experts in the housing market would say. They would also say something like, “People don’t really want to buy homes while the weather is still bad and listing your home in the winter just makes you look desperate.” It may well be conventional wisdom, and while it does come from years…

The benchmark price of $617,000 is an enticing number for Niagara to attract first time home buyers and anyone looking for an affordable and beautiful place to call home. With the Bank of Canada holding the interest rate at 5% and expectations are they could possibly reduce that rate this year, we should be prepared for a somewhat typical spring market. With the many market changes seen in 2023 and with more expected in 2024, it’s vital to seek the advice and expertise of a professional. If you’re looking to buy or sell a home or just have questions about…

As we step into spring, many things come to mind from the blooming flowers to the brighter days. But did you know that spring is one of the most favored times to sell a house? The warm weather, mild conditions, and picturesque viewings set the scene for your house to look it's best. In this blog, we will explore the benefits of selling your home in the spring market and why it's the perfect time to put your home on the market.

Welcome to the exciting month of June, where we celebrate National Homeownership Month! Whether you're a first-time homebuyer or someone looking to upgrade your current living situation, there's no denying the profound impact that owning a home can have on your life. In this blog, we will delve into the top five benefits of homeownership, highlighting the advantages that await you when you decide to invest in your property. So, let's explore why homeownership can be a life-changing experience!

Looking to buy a property can be quite overwhelming especially if you don’t know what to expect or where to begin your search. One of the best decisions you can make when searching for a property is to hire a personal real estate agent. A personal real estate agent at Tracy Phelan can help make the process easier and less stressful for you. In this blog post, we’ll be discussing the benefits of hiring a personal real estate agent for your property search.

The Niagara Real Estate Market Report Year over Year - February 2023 vs February 2022 As forecasted, the Niagara Region has begun to spring back as month over month sales are up, the number of listings is up and the average days on market has decreased slightly. We can see as well that home values are holding steady at roughly the same as it was in January 2023. Looking back year over year, we will continue to see larger differences in these numbers as the market did not begin to level out until late in the second quarter of 2022. New…

Niagara Real Estate Stats stats below for November: The Niagara Real Estate Market Report Year over Year - November 2022 vs November 2021 New listings in the Niagara Region were 880 in November 2022 vs 751 in November 2021, which is a increase of 17.2% Residential home sales in Niagara totaled 335 homes in November 2022 compared to 669 in November 2021, which is a decrease of 49.9% ⬇️ The average HPI composite benchmark* price was $642,600 in November 2022, compared to $701,400 in November 2021, which is a decrease of 8.4% ⬇️ ⭐️The Niagara Real Estate Market Report Month to Month, November…