How did 2022 kick off? Are we continuing the trend of last year decreasing listings and increasing sale prices?
What does the first month of the new year look like??
Let’s look at some numbers!!
In the Niagara Region we continue to see a steady increase in benchmark sale prices! The increase is 33.4% for the Niagara Region as a whole.
This means that if you bought a property in 2021 for e.g. $500,00, it could now sell for as much as $667,000 based on the current benchmark price %!
While most municipals still show a decrease in the number of listings, Fort Erie shows an actual increase of 9% and Port Colborne a whopping 66.6%!!!
What does all of this mean? It means that as a buyer you will likely be in competition with other buyers to purchase, while sellers sit back and enjoy another year of bidding wars on their homes.
What does all of this mean? It means that as a buyer you will likely be in competition with other buyers to purchase, while sellers sit back and enjoy another year of bidding wars on their homes.
Attention Sellers!! – If you received a market evaluation from us on your property/properties going back to at least 2016 when the market here in Niagara really started to take off, we strongly suggest you consider getting another one!! Most residential real estate since that time has seen an appreciation of anywhere from 70 to 120%!! Seems unbelievable but true! Call me today to discuss!
PS: Remember The Salisbury Team is always here for you!
How Did YOUR Municipality Perform?? Let’s look at some numbers!!
