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.