Posted By Kathy Klune, Dave Klune on January 5th, 2011
Royal LePage Niagara Real Estate Centre reports a 9.8% increase in company sales units as of the 3rd Quarter of 2010
Royal LePage Niagara Real Estate Centre Brokerage has exceeded 2009 sales activity by 9.8% as of September 2010. The Niagara Association of Realtors reported a 9 month increase of 5.1% however the sales activity for the Month of September fell 15% compared to last year. Other major markets saw steeper declines in September with Toronto reporting a drop of 23%, Vancouver down 37.6% and Montreal down 13%. All areas are reporting a more balanced Market with Average sale prices up between 3 and 6% for the last 12 months. Prices are not expected to fall and should remain stable for the balance of the year.
Residential MLS Reported Sales in Local Markets
|
Area |
Unit Sales 2010 Increase over 2009 |
|
Fort Erie |
368 1% |
|
Fonthill/ Pelham |
166 19% |
|
Lincoln |
217 12% |
|
Niagara On The Lake |
184 5% |
|
Niagara Falls |
845 10% |
|
Port Colborne |
238 -7% |
|
St.Catharines |
1275 4% |
|
Thorold |
226 19% |
|
Welland |
565 1% |
|
Grimsby |
317 -5% |
|
Smithville |
79 49% |
|
Dunnville |
108 40% |
Niagara Region -
The Average Sale price of a single family home rose to $225,871 from the $212,755 reported for the same period in 2009. This 6.1% rise in sale price is comparable to other markets however a 43% increase in sales of Luxury Homes ($400,000-1 million plus) has affected the average sale price. Most Markets in Niagara are described as balanced however Grimsby, Stoney Creek & Smithville are in a Sellers market as inventory levels are down & Buyer demand is high. The last quarter of 2010 year should see a slow down in inventory levels ( typical for this time of year ) however prices are expected to remain level.
