Talk about a strange year. Between the continued threat of the novel coronavirus and an uncertain economy, it’s no surprise that many who had hoped to make a move this year have put their plans on hold.
Such hesitancy is understandable. Yet the irony is, that all leading indicators point to a strong real estate market for the remainder of 2020.
This July and August more homes traded hands via Canadian MLS® Systems than in any other two-month period on record. In Niagara, the upward trend started in June with year-to-date home sales bouncing back to pre-COVID levels throughout the summer.
The resilience of our local housing market is reflected in the remarkable price gains we are currently experiencing – the average home price in Niagara jumped 15% in August. The market continues to be fueled by pent up demand and low inventory levels with 14% fewer listings put on the market so far, this year.
Selling your home is a big decision at the best of times. This year has added some new changes to the process, but please be reassured that real estate continues to be transacted safely and given the current rising price trends – also quite profitably.
Please reach out to us anytime. We’re always happy to fill you in on what’s happening in the local market, answer any questions and provide you with the utmost service and guidance moving forward.
All the best,
John & Cathy
Co-Founders, myNiagaraOnline.com Community Platform