April Residential Market Reports – Provided By Royal LePage Niagara Real Estate Centre (Click To Open)
Regional Residential MLS® Market Report
Royal LePage Niagara Market Update
Royal LePage Niagara Regional Infographic
Average sale prices continued to climb throughout the region with April sitting at $317,322 compared to the year to date average of $309,114. The number of residential sale units were up 26% over last year and we expect this trend to continue for at least the next few months.
New listings were still lower than expected creating a shortage of available properties for home buyers. The sales to listing ratio was in a strong sellers market with most areas well above the 80% ratio, compared to a normal balanced market of 55-65% ratio.
Most homes are selling at an average of 98% of the list price although we have seen a percentage of properties sell above the Listing price.
Inventory levels are still low compared to the demand for homes & Buyers are finding themselves in competitive offer situations to get their offers accepted.
We need more listings!!!
The post The Spring Real Estate Market Is In Full Swing appeared first on Royal LePage Niagara Realty.
Source: Blog