March 9th, 2018, Niagara – The Niagara Association of REALTORS® (NAR) reported 463 property sales processed through the NAR Multiple Listing Service (MLS®) system in February. This represents a 33.19% decrease in sales compared to February of last year.
The residential average sale price of $392,875 was 6.72% higher than last February. The average days on market increased from 35 to 41 in the residential freehold market and decreased from 54 to 43 in the condominium market.
“Though the number of transactions in 2018 is significantly down from 2017 through January and February, we can see that the Niagara Real Estate Market is remaining strong, with our average price showing steady growth” said Randy Mulder, President of the Niagara Association of REALTORS®.
Please refer to the accompanying chart for residential market activity in select areas in NAR’s jurisdiction.