Pelham New Listings Up 91.3% in October
The Niagara Association of REALTORS® (NAR) reported 525 MLS® residential property sales in October - a marginal increase compared to the figure of 524 posted in October of last year.
The average days on market increased 10.3% from 39 to 43 in the residential freehold market.
The residential average sale price of $417,993 had an increase of 8.0% versus last October while the number of active residential property listings increased by 21.4% versus October 2017.
Year to date, residential property transactions total 5,543 v.s. 6,399 for 2017 and 5,105 in 2013. This represents a decrease of 13.4% versus 2017 and an increase of 8.6% versus 2013.
Despite the trend of an increase in the average days to sell v.s 2017, it is worth noting that the current average of 38 days to sell is 32.1% lower versus the 56 average days to sell at this time in 2015. The sales price to list price ratio of 97.8% versus 99.7% in 2017 remains relatively steady.
Local Highlights: PELHAM
- 18 property sales processed through (MLS®) system in October (10.0% decrease in sales compared to last October)
- Number of NEW residential property listings increased by 91.3% versus October 2017
- Residential average sale price* of $577,927 had an increase of 6.8% versus last October (*average price of October sales only)
Please refer to the accompanying charts for market activity in select areas in NAR’s jurisdiction.
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