market update

Market Update on Home Sales

12-Month Median Sale Price to May 2013 compared to 2012

The Median vs. the Average Sale Price

The median sale price is the mid point, meaning that half of the homes sold below and half sold above that number. The average is the sum of the sale prices divided by the number of sales. The medium is less affected by very large or small sales in a group.

12-Month Median Sale Price

To May 30, 2013

Median
Pr 2013

Median Pr 2012

% Change

Fort Erie

$175,000

$175,000

0.0%

Fonthill/Pelham

$305,750

$294,900

3.7%

Niagara Falls

$190,000

$188,000

1.1%

Niagara-On-the-Lake

$359,000

$361,000

-0.6%

Port Colb/Wainfleet

$165,000

$172,500

-4.3%

St. Catharines

$203,750

$195,500

4.2%

Thorold

$216,000

$195,000

10.8%

Welland

$178,000

$170,000

4.7%

West Lincoln

$315,000

$329,950

-4.5%

Lincoln

$265,000

$274,000

-3.3%

Source: Niagara Association of REALTORS® FUSION Software-- though deemed reliable cannot be guaranteed.

Four markets indicate a decrease: Niagara-on-the-Lake, Port Colborne/Wainfleet, Lincoln and West Lincoln.

Fort Erie and Niagara Falls prices remain stable.

Fonthill, St. Catharines and Welland point to increases of 3.7%, 4.2% and 4.7% respectively.

At $216,000, Thorold had the highest increase at 10.8%. It’s also the only market in which the median of $216,000 is higher than the average sale price of $214,556. This would suggest that more sales took place in the lower end of the average sale price.

John Noble

John Noble

Sales Representative
CENTURY 21 Today Realty Ltd., Brokerage*
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