The Niagara Region Sales Numbers August 2022Based on data from CREA (The National Real Estate Association), home sales were 32% below the five-year average and 28.7% below the 10-year average
Niagara Region Average Sale Prices - July 2022
Dated: August 4 2022
The Niagara Region Sales Numbers
Based on data from CREA (The National Real Estate Association) home sales have fallen by 5.6% between the months of May and June. For the month of June in particular, activity has dropped slightly below average.
With the rise of interest rates, sales activity continues to slow down. The rise of the cost of borrowing has taken over the supply and is the main influencing factor affecting the market. In terms of supply, it has not been affected. Even though uncertainty, there are still a number of people who are choosing to still take part in the market.
The actual national average home price was $665,850 in June 2022, down 1.8% from the same month last year. This is influenced by the biggest housing markets which included the GTA and Greater Vancouver.
Check out the monthly sales numbers per region:
A Niagara native and a seasoned real estate professional, Daniel recognizes and values the trust of his clients. His passion for real estate and construction propels him to exceed client expectations ....