Market Conditions to July 31st

Market Overview for Single Family Homes

To July 31, 2011

The number of listings for single family homes is down by -1.8% in the Niagara Region.

Regionally, sales are down by -9.5% YTD compared to 2010. Fort Erie sales an increased by .4%; Niagara-on-the-Lake by 5%.

Area

Average Sale Price

%'age

 

2011

2010

Change

July 31, 2011 YTD

12-Month

12-Month

12-Month

NOL

$460,790

$416,955

10.5%

Niag. Falls

$216,436

$211,629

2.3%

Fort Erie

$185,330

$191,823

-3.4%

St. Catharines

$216,868

$216,405

0.2%

Thorold

$207,001

$196,360

5.4%

Pelham/Fonthill

$327,096

$327,856

-0.2%

Welland

$178,410

$178,249

0.1%

Port/Wainfleet

$198,118

$181,272

9.3%

Linc/West Linc

$294,145

$284,316

3.5%


The 12-mth average sale price, overall, is up by 1.7%; Fort Erie is down by -3.4% and Pelham/Fonthill is down -0.2%.

Regionally, the sale-to-listing ratio (no. of homes sold vs. the number of new listings) stands at about 44% YTD compared to 48.2% for 2010. Percentages vary with each area.

Note: The average sale price does not reflect the value of a home. This requires a market analysis and comparison of homes sold that are similar to yours. In certain areas of a city the average price may indicate an increase or a decline over the previous year.  

(Source: MLS® Statistics Report, NAR)

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