March 11, 2014, Niagara – The Niagara Association of REALTORS® (NAR) reported 414 property sales processed through the NAR Multiple Listing Service (MLS®) system in February. This represents a 16.29 per cent increase in sales over February of last year.
The residential average sale price of $233,101 was 0.38 per cent higher than last February. The average days on market increased from 62 to 68 in the residential freehold market and from 60 to 81 in the condominium market.
“Every community in NAR’s market has its own localized residential market, said Carolyn Bones-Poley, Chief Executive Officer, Niagara Association of REALTORS®. “We are pleased to offer this statistical overview of Niagara’s housing market and will be doing so on a monthly basis moving forward,” said Bones-Poley.
Please refer to the accompanying chart for residential market activity in select areas in NAR’s jurisdiction.
The Niagara Association of REALTORS® (NAR) was established in 2002 after an amalgamation of three area boards including the St. Catharines District Real Estate Board, the Niagara Falls-Fort Erie Real Estate Board and the Welland District Real Estate Board. NAR represents more than 965 real estate brokers and sales representatives in Niagara. Members of the association may use the REALTOR® trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics. The association operates the local MLS® in partnership with surrounding local associations in Southern Ontario. In addition, NAR supports several local, shelter-based organizations including Habitat for Humanity Niagara.