PS: Text/call me any time if you have questions! 905-321-5050.

The first real estate numbers for 2023 are available! How did we do??

When comparing last year January to this year, please remember that the real estate market in January 2022 was still very frenzied! For example, the average sale price for the Niagara Region in January 2022 was $762,900! In January 2023 this is $629,100.

A house in January 2022 was listed for 17 days on average, in January 2023 this is 57 days.

This is an advantage for buyers, giving them a better chance to find the right home.

But is it just a buyer’s market? Not necessarily. Sellers can definitely benefit, but it is important to price the house realistically, based on the current market numbers rather than the extreme highs of last year.

PS: Text/call me any time if you have questions! 905-321-5050.

Let’s have a look at the December Real Estate numbers!
Last month of 2022! How did we do??

I will answer this by quoting the Niagara Association of Realtors Board of Directors president Amy Layton:

“As expected, NAR experienced fewer sales this past December compared to the previous year. This is in line with the difference in the interest rate.

We’ve seen a 4% increase in the prime rate between December 2021 and December 2022. After the last Bank of Canada interest rate increase on December 7th, 2022, and as we headed into the holiday season, it seems Niagara witnessed the same trend as other areas: a decrease in sales.

Seeing roughly the same amount of listings though is encouraging.

This means more choices for the buyers who are still out there.”

PS: Text/call me any time if you have questions! 905-321-5050.

The real estate market continues to trend towards a more stable market as we head into the Christmas season.
Home sales have been slashed just about in half and although prices are still slightly decreasing. Let’s remember that last year they were at an all-time high and we were in a pandemic.

If anything, the market is returning to a more ‘normal’ now. But then of course, ‘normal’ is rather relative in real estate!! 😉

Remember that The Salisbury Team is here to help you!

If you have any questions regarding these numbers, just reach out. We are here for you!

AND If you ever see any sales or listings that you are curious about in your neighbourhood, just ASK and we will look them up!

PS: Text/call me any time if you have questions! 905-321-5050.

Let’s have a look at the October Real Estate numbers!

How did we do??

The real estate market for the entire Niagara Region is slowing down. Prices are still decreasing compared to last year and the number of sales is much lower for every municipality.

In the Niagara Region as a whole, the number of sales has gone down by 47% for the month of October 2022, which is fairly consistent with last month’s decrease of 43.6%.

The average sale price also continues to decrease. Where the average sale price for the Niagara Region was $681K in October 2021, it dropped to $654K in October 2022. This is a decrease of 3.9%, which is a bit higher than last month’s 0.6%.

Remember that The Salisbury Team is here to help you!

If you have any questions regarding these numbers, just reach out. We are here for you!

AND If you ever see any sales or listings that you are curious about in your neighbourhood, just ASK and we will look them up!

PS: Text/call me any time if you have questions! 905-321-5050.

How did we do compared to September 2021??

The market is still slowing down. Not only are the number of sales down per municipality compared to last year’s September, but in most municipalities the sale price has also dropped, with the exception of Lincoln, Thorold and West Lincoln.

In the Niagara Region as a whole, the number of sales has gone down by 43.6% for the month of September 2022, compared to September 2021.

The average sale price has also decreased. Where the average sale price for the Niagara Region was $666K in September 2021, it dropped to $662K in September 2022. This is a decrease of 0.6%.

If you are considering selling, it is important to set a realistic listing price based on the current numbers and to understand that your house may be on the market longer than you would like.

You may be wondering what the best course of action is if you are thinking of selling or buying right now.

Or you might be wondering what the current value of your home would be if selling. The real estate numbers can raise many questions and it can be difficult to see the forest through the trees.

Remember that The Salisbury Team is here to help you!

If you have any questions regarding these numbers, just reach out. We are here for you!

AND If you ever see any sales or listings that you are curious about in your neighbourhood, just ASK and we will look them up!

PS: Text/call me any time if you have questions! 905-321-5050.

Now: let’s have a look at the Real Estate numbers for August 2022!

PS: Text/call me any time if you have questions! 905-321-5050.