905-988-8284         info@teambb.ca   

Category Archives: Real Estate Market Update

Local Housing Sales Predicted to Climb Onward & Upward in 2014

Our local housing market is entering into the new year in solid shape, with predictions of another positive year of growth on the horizon. Residential sales in Pelham reached 215, a healthy 2.87% increase over the total of 209 recorded in 2012. It is the surging average price growth in our community that is the…
Read More

Average Price in Pelham Jumps 8.4% in 2013

The Pelham housing market is entering into the new year in solid shape, with predictions of another positive year of growth on the horizon. During 2013 residential sales in Pelham reached a total of 215 transactions, a healthy 2.87% increase over the total of 209 recorded in 2012. It is the surging average price growth…
Read More

Average Price in Welland Edges Down Slightly in 2013

Preliminary year-end results for the City of Welland indicate that sales activity dropped 7.1% in 2013.  The Rose City’s 12-month average price of $185,620 slipped marginally from last year's year-end tally of $186,025. In total, there were 681 residential sales reported in Welland during the year compared to 738 transactions recorded in 2012. The average…
Read More

St. Catharines Real Estate Market Poised for Further Growth in 2014

Activity in St. Catharines’ real estate market continued at a steady clip in 2013, despite some softening over the summer months on the heels of a healthy spring market. Buyers regained enthusiasm into the fall and through the final quarter of the year, with sales expected to end the year at 2,700 units—three per cent…
Read More

November Market Update – Pelham, Welland & Niagara

Market Rallies in Pelham - UP 3.5% During November total sales for the month in Pelham jumped well ahead of last year and year to date sales climbed 3.5% above 2012 results. According to the MLS® sales reports of the Niagara Association of REALTORS® there were 15 homes sold in Pelham during the month of…
Read More

A CLOSE-UP LOOK at Niagara Home Sales

As we head into the home stretch of the year we thought it would be a good time to do a quick pulse check of local market stats: Total NIAGARA Residential Sales January 1 - November 30th, 2013: 5,935 Total NIAGARA Residential Sales January 1 - November 30th, 2012: 5,958 % CHANGE: -0.4% NIAGARA AVERAGE…
Read More

Local Home Sales Sluggish in October

Pelham residential home sales dropped off significantly this past month with 7 transactions recorded this year compared to 15 in October 2012. Year-to-Date Total Sales Level Still at 5-Year High Despite a slow showing for October, total sales so far this year continue to outpace our 2012 level and remains ahead of Pelham’s 5-year average.…
Read More

How Long Does it Take to Sell a Home?

The long and short answer is "It depends". There are multiple factors that will impact how we answer this question: (1) Location: According to the most recent MLS® system reports of the Niagara Association of REALTORS® it currently takes 70 days on average for a home to sell in the Welland and Pelham Area. Take…
Read More

Local Third Quarter Results in a Nutshell

Pelham Home Sales DOWN 27% in Third Quarter The Pelham local market is showing signs of deceleration following a banner first half of the year. According to the MLS statistics of the Niagara Association of Realtors there were 44 residential sales reported in Pelham during the Third Quarter - down 27% from the 60 transactions…
Read More

Here's a quick look at how tight the listing inventory situation is in Niagara compared to past years.

August Inventory
We can expect continued price growth into the final stretch of the year provided the demand for housing keeps outpacing the rate of inventory growth.

Guess What Niagara City? Average Price of $184,952 VS $201,954

One of these figures is the July 2013 12-Month Average Price in Port Colborne/Wainfleet and the other is the stat for Welland. We asked our Facebook Fans if they could guess which figure applied to what area and we discovered that yes indeed our Niagara local friends know their numbers! $184,952 is the current 12-Month…
Read More

New Year Begins with Balanced Conditions

The Pelham real estate market finished the year off with a bang! With 18 single family unit sales in December compared to 10 in December 2009, sales for the month jumped 80%. This surge was enough to offset the 4 per cent year to date dip reflected in our November results. Total sales in Pelham…
Read More

Local Market Mirrors National Trends

Across Canada July month end results reflected the third month in a row that monthly unit sales were below 2009 levels. The weaker than anticipated sales activity recently prompted the Canadian Real Estate Association (CREA) to lower its national home sales forecast. Sales activity in our local marketplace followed this same national pattern. In Pelham,…
Read More

Pelham Market Review: February 2010

Average House Price on the rise The housing market continues its healthy upward trend across the Niagara Region, with significant increase in both number of sales and sale value. This trend is expected to continue through to late Spring as we approach the implementation dates of two legislative changes that are predicted to reduce housing…
Read More

Pelham Real Estate 2009-the Year that Was

As we enter the starting days of the 2010 decade I once again find myself contemplating the incredible difference a year can make. Last year’s trepidation and lack of consumer confidence have been replaced by a resounding spirit of resiliency. During the opening months of 2009 a deep freeze descended upon Pelham and extended into…
Read More

Pelham Scores Top Results in Niagara

Residential re-sale market activity in Pelham is continuing its upward trend into the final months of 2009. A total of 29 single family MLS sales were reported during the months of October and November 2009, an overall increase of 93% over the total of 15 transactions during the same time period last year. To keep…
Read More

Pelham Real Estate 2008-the Year that Was

As we launch into the resolution stage of the post holiday season one cannot help but shake their head in wonder at what a difference a year can make. During 2008 the local real estate market entered into a remarkably sudden, yet long anticipated, recessionary phase that followed in the wake of an incredible decade long run.

The year began optimistically after the Pelham market had experienced another record breaking year in 2007. At $312,134, the MLS average single family house had exceeded $300,000 for the first time ever. Residential single family sales totaled an unprecedented 227 units. During the first quarter it seemed that the record pace would continue. Year-to-date residential single family sales at 40 units was at the same level as the first quarter of 2007 and the 12-Month average sale price at $310,831 was just marginally below the previous year-end figure.

However, by the second quarter a different story was beginning to unfold. Total unit sales for Apr.-June 2008 were 62 compared to 92 for Apr.-June 2007 resulting in a 22.7% drop in year-to-date unit sales. By the end of June 2008 the 12-Month average sale price had fallen 3.3% to $301,666. As we entered into September, the already decelerating local market situation was further compounded by the global stock market plunge. Although the Jan-Sept. 2008 year-to-date unit sales decrease had stabilized to a 17% decline, the 12-Month average sale price fell further to $298,817 representing a 4.3% drop in average price.

Nothing could have prepared us for the complete lack of consumer confidence that strangulated the real estate market in the fourth quarter of 2008. Total single family residential unit sales for Oct-Dec. dropped 43.6% reflecting 22 units sold compared to 39 during the same period in 2007. The final 2008 year end tally for Pelham was 178 single family residential MLS sales. This total represents a 21.6% decline in unit sales compared to the previous year. The year-end average sale price was $295,179 or 12.1% less than the mark achieved in 2007.

Yes indeed-what a difference a year can make. Many homeowners whose only experience of the market has been frenzied year upon year price increases may be looking towards 2009 with fear and trepidation. Those of us who have adapted to down markets in the past merely shrug our shoulders, and with a slightly melancholic sigh, remind everyone "that this too shall pass".

Read More