We’re two months in to 2018 and the spring market is beginning to stir after a very crazy 2017!
The pricing bubble burst in other areas closer to the GTA, but average pricing of detached homes is still above 2017 prices for this time of year. However, like other areas, we’re seeing a significant drop in number of sales, showing a slow start to the spring market. For February 2018, we still see an average price increase of around 10% ($40K) from the hot spring market of last year, but it’s taking much longer to sell these properties. What’s this mean in you’re a buyer? More selection and much less competition. An excellent time to buy! As a Seller? It will take longer to sell than last year, but the pricing is still up from last spring’s market, so a great time to sell!
For non-detached homes, we see pricing stay above the average for 2017 but it’s yet to be seen if this will be maintained. However pricing still remains significantly higher than 2016 values, which is not seen closer to the GTA. The number of sales transactions is only slightly down over previous years, which means theres’s still good activity compared to detached homes. If you’re looking to sell or buy your property, it’s a balanced market and the Niagara Region is doing better than many areas for these home sales. Great time to sell or buy!
So, when do you sell, or buy? Considering Niagara to downsize from the GTA? Let’s talk, performance varies by area, so I can help you to time it right.