Hi Everyone, Well now that Summer is over(officially for the kids), we hope that you all made the best of it. Cool today for sure, but FALL is a beautiful time of year. As I do each month, here is the AUGUST 2024 STATS for the NIAGARA REGION. Both by Month vs Month (July 2024 vs August 2024) & Year vs Year (August 2023 vs August 2024).
UNIT SALES
In the reports below, you will notice that UNIT SALES (August 2024 vs July 2024) Once again there was a decrease in UNIT SALES by (3.0%) & UNIT SALES (August 2024 vs August 2023) there was an (6.7%) DECLINE in UNIT SALES the year prior.
SALE PRICES
You will see that the SALE PRICES (July 2024 vs August 2024) there was a slight decrease in prices by (1.0%), however SALE PRICES (August 2023 vs August 2024) there was another drop (3.3%)
DECLINED in SALE PRICES from the prior year.
NEW LISTINGS
You see that the NEW LISTINGS (July 2024 vs August 2024) there was a decrease in listings by (11.4%), not uncommon during the summer for many and NEW LISTINGS (August 2023 vs August 2024) decreased by (2.3%) year over year.
The Bank of Canada's just announced 1/4% cut on this week and there is anticipation of 2 more rate cuts before the end of the year could mean for a bit of a pick up in the market this fall and heading into 2025.
