Niagara Association of REALTORS® March 2021 Market Update
Residential home sales activity recorded through the MLS® system for The Niagara Association of REALTORS® (NAR) totaled 1,081 units in March 2021. This was an increase of 102.9% from March 2020.
“The spring market is here as evidenced by the brisk sales numbers in March. We are seeing a continued influx of buyers who are able to work remotely and families looking to move from attached units to detached properties coming to Niagara. Although supply has also increased, demand has outpaced it.” 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 $620,700 in March 2021. This was an increase of 37.2% compared to March 2020.
The characteristics of the HPI composite benchmark is a home between the age of 51 to 99 with three bedrooms and two bathrooms
REALTORS® listed 1,471 residential properties in Niagara jurisdiction last month, an increase of 61.1% compared to March 2020. The average days it took to sell a home in March was 16 days, compared to 37 days in March 2020.
BOARD & ASSOCIATION INFORMATION
The Niagara Association of REALTORS® represents over 1230 REALTOR® members serving the communities of Fort Erie, Fonthill/Pelham, Lincoln, Niagara Falls, Niagara-on-the-lake, Port Colborne/Wainfleet, St Catharines, Thorold and Welland. Our mission is to empower REALTORS® to thrive.Our vision is to foster an environment where leadership and members provide influence, advocacy, enhance professionalism and business acumen.
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For more information,
Grant Brown, Executive Officer
The Niagara Association of REALTORS®
116 Niagara Street, St. Catharines, ON, L2R 4L4