As snow starts to fall in Niagara, the market activity starts to freeze for the winter market. 

November showed a noticeable decrease in activity compared to the previous month. over a 15% drop in both new listings and sales as available inventory dries up. Average days on market holding steady over 40 days showings buyers are taking their time. But with the latest interest rate increase there may be more incentive to strike a deal sooner than later.

Seller aniexties right now are very real, but patience is key. all activity points to a more balanced market, which make the forecast for the new year an optimistic one.

To wrap this one up, on behalf of the Portfolio Realty Group we’d like to wish you and your family a Merry Christmas and wonderful holiday season. we’ll see you in 2023!