Welland was one of the leading markets in Niagara entering the 2014 home stretch according to according to MLS® system reports of the Niagara Association of REALTORS® released in December.
There were 53 unit sales in the Rose City during the month of November - up 18% from the total of 45 sales recorded in November 2014.
Other Niagara communities that experienced market surges during November included St. Catharines, Thorold, Port Colborne/Wainfleet and Niagara Falls with increases of 63%, 41%, 18.5% and 4% respectively. Pelham residential sales held steady at the same pace as last year with15 MLS® transactions reported in November 2104 - identical to the tally for November 2103.
The November sales rally across the Niagara Region resulted in a 23.8% sales increase overall with a total of 483 units sold this month compared to 380 last year. On a year-to-date basis residential sales in Niagara are now .07% ahead of last year.
Sales activity in Welland is well ahead of regional levels. With 711 transactions reported so far this year compared to 632 last year, year-to-date sales have jumped 12.4% in our local community. Year-to-date sales in Pelham now stand at 224 units – up 9.3% from the total of 205 at this time last year.
The 12-month average price in Welland continues to climb at a healthy pace increasing 5.4% to $197,217 from $187,187 in November 2013. In Pelham, the 12 Month average price is up 7% climbing to $372,481 from $347,987 while the figure for all of Niagara grew by a more modest 1.3% rising from $249,172 in November 2013 to $252,408 this year.
The month of November also saw an increase in the number of new listings on the market with listings up 17.4% in Welland and 24% across Niagara as a whole. Should this trend continue we can expect to see average price increases leveling off in the coming year.
Cathy Berkhout-Bosse, H.B.A. is a real estate broker at ReMax Welland Realty Ltd. You may read past Local Market Update articles at http://www.NiagaraRealtySourceReport.com
We Help You "Find it Local"
As real estate professionals, it our primary goal to provide our clients with the most thorough information possible when it comes to finding a place to live. Each and every day we actively promote the value of our vibrant Niagara lifestyle and demonstrate our deep personal commitment to helping our local communities thrive.
We are both life-long Niagara residents and have been highly successful local REALTORS® since 1988- you can rely on us to help you analyze the Niagara market and its housing trends. Our trusted personal service has allowed us to build our business primarily through repeat customers and referrals from satisfied clients.
We invite you to visit our website www.NiagaraRealtySource.com where you can explore our local real estate market information and learn more about the professional marketing and property search services that we provide.
John and Cathy