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Niagara Region Average Sale Prices - September 2022
Dated: October 19 2022
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The Niagara Region Sales Numbers
September 2022
Based on data from CREA (The National Real Estate Association) Home sales fell by 3.9% between August and September 2022. From May through August, month-over-month declines have been progressively smaller.
What we can see is that we are getting to a tighter side of a balanced market. There have been so many changes over the last year and the adjustment to higher borrowing costs is still underway. That said, it should not be a surprise to see the softness of home sales with the recent rate hike in early September.
The market is still in a state of rapid adjustment. Buyers and sellers are trying to feel each other out while a lot of people have had to take their home or investment plans back to the drawing board. As such, resale markets may remain on the quiet side for some time.
Check out the monthly sales numbers per region:
Daniel Passero
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 ....
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