Niagara Association of REALTORS® press release – Residential home sales activity recorded through the MLS® system for The Niagara Association of REALTORS® (NAR) totaled 767 units in June 2020. This was an increase of 7.6% from June 2019.
“We have experienced a very healthy 48% increase of new Listings in June over May, (down only 1.5% over June 2019) with a corresponding increase of 59% in Sales. Buyers and Sellers are embracing the use of Covid Declaration forms as another step forward in safety protocols. There is still high demand for properties in the starter and move up ranges which is decreasing the days on market and moving the Homes Price Index up in all but one area covered by The Niagara Association of Realtors,” said Terri McCallum, President of The Niagara Association of REALTORS®.
The MLS® Home Price Index (HPI), tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price for the Niagara region was $463,600 in June 2020. This was an increase of 11.4% compared to June 2019.
The characteristics of the HPI composite benchmark is a home between the age of 51 to 99 with three bedrooms and two bathrooms. A full list can be found in the accompanying chart. REALTORS® listed 1,143 residential properties in Niagara jurisdiction last month, a decrease of 1.5% compared to June 2019. The average days it took to sell a home in June was 40 days, compared to 38 days in June 2019.