As you must have been reading in the news, the real estate market is on fire. Not only is this true in the Niagara area but also in Merritton!
I was interested in what the real estate market was like in Merritton so I contacted my friend William to give me some details.
Here's what he showed me for St. Catharines and the Secord Woods / surrounding area:
Since January 1st, 2017:
10 properties sold.
Avg Price $301,400 (ranging from 165-471k)
Average days on the market: 29 days
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16 properties sold but pending.
Avg price $283,744 (ranging 183-411k)
Average days on the market: 14 days
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St. Catharines Averages: 2016 Average price increased 14.89% compared to 2015 Avg Price
Merritton Averages: 2016 Average price increased 29.83% compared to 2015 Avg Price.
February 2017 price increased 20.77% compared to Feb 2016 Avg Price
In February, houses in Merritton sold for and Average of 4.7% higher than asking/listing price.
Stats about Niagara as a whole:
The Niagara Association of REALTORS® (NAR) reported 700 property sales processed through the NAR Multiple Listing Service (MLS®) system in February. This represents a 15% increase in sales over February of last year.
The residential average sale price of $367,461 was 26.01% higher than last February. The average days on market decreased from 55 to 34 in the residential freehold market and decreased from 87 to 54 in the condominium market.
A significant driver for the increasing demand is the affordability in the Niagara Region.
The average price of $367,461 in Niagara as compared to the average price for Ontario as a whole of $556,631 makes Niagara a very attractive choice for homeownership.
St. Catharines Stats:
Average Sales Price in Feb 2017 is 31.27% higher than the Avg from 2016 (2016=$254894, 2017=334587)
Avg Days on Market decreased in 2017 to 26, 2016 35 (= down 26%)
Pretty impressive right?
So If you are looking to sell/buy, now is a great time don't you think? House prices are only going up.
Give William a call for your free market evaluation. He will take care of you...
WILLIAM SMITH
Sales Representative
Direct: (905) 323-7063
Office Phone: (905) 641-1110 Ext 3429
Email: williams@remax-gc.com
