The market in the Niagara region continues to trend towards a buyer’s market. Average prices have dropped again in July and inventory continues to hold steady for now, giving buyer’s more choices.
July marks the first time in 6 months where inventory has slightly decreased. Also average days on market nearly doubled and list to sale ratio at it’s lowest point of the year.
As another interest rate increase looms in September, and the inevitable inventory drop to occur once school is in session, all eyes are on August for buyers to make their move.
For those of you out there waiting out the market, now might be the time while the options are plentiful. Once the colder months hit, expect a significant drop in inventory. this may not have an impact on pricing, but will limit choices buyers may have.
Talk to a trusted mortgage agent and see where you stand compared to current price trends, and snatch up the deal of the summer!
RE/MAX, LLC Real Estate Estate agents Emily Desantis, Scott Sweitzer, Chris Somerfield & Ashton Hendriks. © 2021 Portfolio Realty Group. All Rights Reserved.
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