Greetings and warm wishes. As the season of blooming flowers and new beginnings dawns upon us, sellers may find themselves busily preparing their houses for the spring market, which typically witnesses a peak in demand. On the other hand, prospective buyers will likely be scouring the internet and perusing various properties.
What a February we’ve had! It almost seems like spring is in the air, but I cautiously remind you that it still is February. Although properties are starting to move, we are noticing that demand from out-of-town buyers is starting to slowly enter our Niagara market.
So here we are today in January 2023, and the average sale price is $584,000. What that says is December appears to be the bottom of the market.
2022 is in the books and it was one for the ages with what we experienced. Through January, February, and March we saw the most epic of highs in our real estate market with record-breaking sale prices. Then, we experienced interest rate hikes, slowing the market and compressing prices.
I have good news for everybody, we are now approaching what could be considered a normal real estate market. This means houses may linger on the market, so the overall days on market for homes has increased, but the prices do seem to be stabilizing and balancing.
Hello, Niagara! Shawn DeLaat here with the Davids & Delaat Real Estate Team and this […]
Hello Niagara! Shawn DeLaat here with the Davids & DeLaat Real Estate Agents Team […]
Hello Niagara! Shawn DeLaat here with the Davids & DeLaat Real Estate Team with your […]
Here in Niagara, we experienced our spring market in February / March, a little earlier than usual. As interest rates started go up, demand diminished, which we saw plainly at the tail end of March and into the beginning of April with very few showings on listings across the region.
There has definitely been a change in the winds from what we experienced in the […]
The nice weather is coming but there’s a chilly breeze in the Niagara Region Real […]
We’re back with another market update, where Shawn de Laat breaks down how January/February’s frenzy […]
