???? Niagara September Market Report - Portfolio Realty Group

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The housing market in Niagara continues to soften as we find ourselves mid-way into the fall season. Although inventory is up compared to August, sales have slowed and almost unlucky 13% (AHHH!) and close to 50% drop from this time last year.

We find ourselves reaching a tipping point for buyers and their delicate balance between home pricing and borrowing power. All eyes are now on The next scheduled date for announcing the overnight rate target, on October 26.

September also brought a continued reduction in overall average prices, slightly slower than the previous 3 months at 3.7% decline, which equates to roughly $25,000 of the average price.

With roughly 1 in 3 homes listed being sold on an average 37 days on market, a sense of urgency to make moves has since evaporated. Those that need to sell are priced to sell, and those that need to buy have a pick of the litter.

Curious what this market could do for you, or just want to keep a closer eye on the market forecast? Reach out to any one of your friendly neighbourhood portfolio realtors

Do you agree or do you think we're headed in another direction? LET US KNOW!

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ADDRESS: 38 Lakeport Rd, Port Dalhousie ON
EMAIL: info@sellsniagara.com

Areas we cover:

Port Dalhousie Real Estate
Niagara Falls Real Estate
St. Catharines Real Estate
Grimsby Real Estate
Beamsville Real Estate
Lincoln Real Estate
Niagara-On-The-Lake Real Estate
Jordan Real Estate
Vineland Real Estate
West Lincoln Real Estate
Smithville Real Estate
Welland Real Estate
Fonthill Real Estate
Pelham Real Estate
Thorold Real Estate
Fort Erie Real Estate
Port Colborne Real Estate