Current Statistics Indicate A Strong Sellers Market…
I’m not sure what the Groundhog said, but the Spring Real Estate Market is ramping up early!! When we compare the February 2021 real estate statistics for the Niagara Region to last year, we can see a 21% increase in the number of sales and houses being on the market nearly half the amount of time! With record low inventory, residential home sales continue to remain strong.
What is HPI?
The MLS® Home Price Index (HPI), tracks price trends far more accurately than is possible using average or median price measures. The characteristics of the HPI composite benchmark in Niagara is a home between the age of 51 to 99 with three bedrooms and two bathrooms. The overall MLS® HPI composite benchmark price for the Niagara region was $578,400 in February 2021. This was an increase of 31% compared to February 2020.
Is Now The Time To Sell?
Our clients are getting mind-blowing prices for their homes! If you had thought of downsizing in the next 1-5 years, now may be the time to re-evaluate your plan. It can seem so overwhelming and a bit intimidating. The Expertise of The Salisbury Team has tried and true systems in place to help you navigate this ever changing market. I can offer helpful guidance based on you needs and ideas! Give me a call…
So, let’s take a look at how Niagara and your municipality performed compared to January of 2020!