"Niagara Real Estate Market Update - August 2024 Residential home sales activity recorded through the MLS® for the Niagara Association of REALTORS® (NAR) totaled 503 units in July 2024, compared to 522 July 2023. In July, the NAR listed 1345 residential properties compared to 1280 in July 2023. The average days it took to sell a home in July 2024 was 42 days, a 31.3% increase from July 2023. The MLS® Home Price Index (HPI), tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price for the Niagara Region was $646,900 in…

More great news for real estate as the Bank of Canada key interest rate drops another 25 basis points. Three consecutive cuts of 25 basis points each in 2024! With this most recent interest rate cut, now is a prime opportunity to sell, buy, or invest in real estate in the Niagara region. Lower rates make it easier for buyers to finance their dream homes, while sellers can attract more interest from motivated buyers. Whether you're looking to move, invest, or find your perfect home, this is an ideal moment to take advantage of the market. Find out how this impacts your…

Niagara Real Estate Market Update - August 2024 Residential home sales activity recorded through the MLS® for the Niagara Association of REALTORS® (NAR) totaled 503 units in July 2024, compared to 522 July 2023. In July, the NAR listed 1345 residential properties compared to 1280 in July 2023.  The average days it took to sell a home in July 2024 was 42 days, a 31.3% increase from July 2023. The MLS® Home Price Index (HPI), tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price for the Niagara Region was…

Niagara Real Estate Market Update - July 2024 The latest data from the Niagara Association of REALTORS® (NAR) reveals some intriguing trends in our local market. In June 2024, residential home sales totaled 541 units, down from 609 in June 2023. This June, we saw 1,460 new listings, a slight increase from 1,403 from June 2023. Homes are taking a bit longer to sell, with an average of 36 days on the market—a 20% increase from last year. Interestingly, the benchmark price has stabilized, suggesting a more balanced market. Currently, we have over 2,800 active listings, offering Buyers a wider selection of properties.…

March was a strong month, with increases complimenting the upward trend we are seeing in the market over the last few months. With the HPI benchmark price at $633,400, an increase of over 2% over last month, which is a positive sign for the market in Niagara; buyers are starting to be more aggressive as the time on the market has been reduced to 43 days from 54 days in January.  If you're thinking of selling or buying a home or just have questions regarding the market  call or text me, I'm always happy to chat.  905 321- 6165 | www.tracyphelan.com

 “The Market is starting to change, and that is evident with the number of sales in January that increased not only month over month but also year over year, looking back at Jan 2023.“ reports Niagara Association of REALTORS® President, Nathan Morrissette.   We can all see with the sales activity increased and the average days on Market reduced, it could make for an interesting year ahead, especially with the HPI Benchmark price holding steady, which is why it is so important for those thinking about buying or selling this year to contact their local Niagara REALTOR® now.  You want to be…

Life is, most certainly, a journey filled with unexpected twists and turns, like the excitement of welcoming a new addition, retirement and starting a new adventure, or the bittersweet feeling of an empty nest. If one of these events is changing in your own life, you may be considering buying or selling a house. Through all these life-altering events, there is one common thread—the need to move. Reasons People Still Need To Move Today Whether it is births, deaths, reaching the age of 65, marriages, or divorces, these big life changes are going to continue to impact people moving forward, even with the current affordability challenges brought on by higher mortgage rates and…

If your listing expired and your house didn’t sell, you’re likely to feel a little frustrated. Not to mention, you’re also probably wondering what went wrong. Here are three questions to think about as you figure out what to do next. Did You Limit Access to Your House? One of the biggest mistakes you can make when selling your house is restricting the days and times when potential buyers can tour it. Being flexible with your schedule is important when you’re selling your house, even though it might feel a bit stressful to drop everything and leave when buyers want to see it (especially at mealtimes). After…

    If you’re looking to buy a home this fall, there are a few things you need to know. Affordability is tight with today’s mortgage rates and rising home prices. At the same time, although we’re seeing an upswing in the number of listings in this area, there’s still a limited number of homes on the market and that’s creating some competition among buyers. But, if you’re strategic, there are ways to navigate these waters. The first thing you’ll want to do is get pre-approved for a mortgage. That way you’ll know your numbers and can set yourself up for success right from the start…

If you’re a homeowner, you might be torn on whether or not to sell your house right now. Maybe that’s because you don’t want to take on a higher mortgage rate on your next home. If that’s your biggest hurdle, understanding your equity may be exactly what you need to help you feel more comfortable making your move. What Equity Is and How It Works Equity is the current value of your home minus what you owe on the loan. And recently, that equity has been growing far faster than you may expect. Over the last few years, home prices rose dramatically, and that gave your equity a big…

If you’re looking to 𝗕𝗨𝗬 a home:⁣ ⁣ 🌟Don’t wait to get paperwork ready. 🌟Do everything you can NOW (gather down payment funds, get pre-approved, have your home ready to sell) so when you find your dream home you can move, and move fast!⁣ 🌟Don’t make a clunky offer. Make a clean offer with as few contingencies and concessions as possible.⁣ 🌟Don’t let your emotions run awry. 🌟Trust your Realtor. ⁣I've been in this industry long enough to know and understand the market. Let me guide you and help you make the best offer to win a home. ⁣ 👉Ready to Sell? Ready to Buy? I'm ready for you! ☺️ Send…

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.

March stats are live! If you have any questions about the current market reach out at any time 905 - 321 - 6165

As a homeowner, one of the most important aspects of your investment is adding value to your home. Whether you’re planning on selling soon or just looking to make improvements, there are several renovations that can be done that will add value to your home and make it more attractive for future buyers. Investing in certain renovations will help ensure that you get maximum return on investment while still staying within budget.

The Niagara Real Estate Market Report Year over Year - January 2023 vs January 2022 As expected for January 2023, we are seeing less sales and more homes going up for sale compared to January 2022, which was a highly frenzied seller's market, as we all recall. We are definitely seeing a more balanced Real Estate Market. New listings in the Niagara Region were 771 in January 2023 vs 529 in January 2022, which is a increase of 45.7% Residential home sales in Niagara totaled 302 homes in January 2023 compared to 454 in January 2022, which is a decrease of…

The Niagara Real Estate Market Report Year over Year - December 2022 vs December 2021 New listings in the Niagara Region were 443 in December 2022 vs 403 in December 2021, which is a increase of 7.4% Residential home sales in Niagara totaled 275 homes in December 2022 compared to 473 in December 2021, which is a decrease of 41.9% The average HPI composite benchmark* price was $631,600 in December 2022, compared to $717,800 in December 2021, which is a decrease of 12% The Niagara Real Estate Market Report Month to Month, December 2022 vs November 2022. New listings in the…