RESIDENTIAL HOUSING STATS FOR SEPTEMBER 2024
Hi Everyone, Well Thanksgiving is behind us and the leaves are starting to change colour. Sure sign Winter is on its way.
As I do each month, here is the SEPTEMBER 2024 STATS for the NIAGARA REGION. Both by Month vs Month (September 2024 vs August 2024) & Year vs Year (September 2023 vs September 2024).
In the reports below, you will notice that UNIT SALES (August 2024 vs September 2024) There was no change in UNIT SALES and it was (0.0%) & UNIT SALES (September 2024 vs September 2023) there was an 31.2% INCREASE in UNIT SALES the year prior. Maybe this could have been a result of the small rate decreases
SALE PRICES
You will see that the SALE PRICES (September2024 vs August 2024) there was no change in AVERAGE PRICE & remained at $640,000 however SALE PRICES (September2023 vs September 2024) there was another drop (2.0%) DECLINED in SALE PRICES from the prior year.
NEW LISTINGS
You see that the NEW LISTINGS (September 2024 vs August 2024) there was a Increase in listings by 22.2% and NEW LISTINGS (September 2023 vs September 2024) increased by 6.7% year over year.
The Bank of Canada meets again on October 23rd and there was hope that there would be a HALF POINT DECREASE, Good Jobs Numbers and LOWER INFLATION in September may ONLY mean 1/4% cut next week. We will have to see. Let's hope for the larger cut.
