NIAGARA - HALDIMAND - HAMILTON RESIDENTIAL MARKET UPDATE
2018
Based on Residential Statistics 2018 ORTIS MLS ®
NIAGARA The Niagara region has much to offer and is a great area to live work and play. Transportation, Amenities, Lifestyle, Business / Employment Growth, Geographic location, and climate have all been factors in many people choosing to live here.
10 Year Trend Unit Sales
Average Sale Price
6,900
318,750
4,600
212,500
2,300
106,250
0
0 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18
425,000
20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18
9,200
Residential unit sales in 2018 were down 10% compared to 2017 given new stress test and financing regulations. We have moved towards a balanced market with an increase in supply. The average sale price is up 4% at 422,000 compared to 2017 which was a record year for prices in the region. We expect prices to remain stable in 2019. Niagara & Dunnville will continue to develop and grow. Transportation Infrastructure, improving economy, and overall lifestyle are contributing factors.
ROYAL LEPAGE NRC REALTY MARKET REPORT BASED ON RESIDENTIAL SALES YTD REPORTED TO ORTIS MLSÂŽ
www.NRCRealty.ca
Niagara Falls Unit Sales POPULATION (2016) 88,071 WEB SITE niagarafalls.ca
5 Year Trend 2,000
Last 6 Months 150
1,500
100
1,000
UNITS SOLDS 2018 YTD 277 Attached 1055 Detached 1332 (-14.1%)Total AVERAGE SALE PRICE YTD 317,932 Attached 410,637 Detached 391,358 (+4%) Total METRICS (YTD) 57.9% Sales To Listings 36 Average Days on Mkt 2.4 Months Inventory
50
500 0
0 2014 2015 2016 2017 2018
Jul
Aug Sep Oct Nov Dec
Average Sale Price 5 Year Trend
Last 6 Months
395,000
415,000
296,250
311,250
197,500
207,500
98,750
103,750
0 2014 2015 2016 2017 2018
0 Jul
Aug Sep
Oct
Nov Dec
Niagara Falls is currently a sellers market with 2.4 months of inventory and 57.9% of listed houses selling. Unit Sales have declined 14% year over year however prices are up (+4%) compared to 2017.
ROYAL LEPAGE NRC REALTY MARKET REPORT BASED ON RESIDENTIAL SALES YTD REPORTED TO ORTIS MLS®
NRCRealty.ca
Niagara-On-The-Lake Unit Sales POPULATION (2016) 17,511 WEB SITE notl.org
5 Year Trend
Last 6 Months
450
40 30
300
20
UNITS SOLDS 2018 YTD 74 Attached 177 Detached 251 (-28.1%)Total AVERAGE SALE PRICE YTD 600,242 Attached 823,637 Detached 757,339 (-6.7%) Total METRICS (YTD) 36.7% Sales To Listings 56 Average Days on Mkt 7 Months Inventory
150
10
0
0 2014
2015
2016
2017
2018
Jul
Aug
Sep
Oct
Nov
Dec
Average Sale Price 5 Year Trend
Last 6 Months
815,000
830,000
611,250
622,500
407,500
415,000
203,750
207,500
0 2014
2015
2016
2017
2018
0 Jul
Aug Sep
Oct
Nov Dec
Niagara On The Lake is currently a buyers market with 7 months of inventory and 36.7% of listed houses selling. Unit Sales have dropped year over year however prices remain stable down slightly (-7%) compared to 2017.
ROYAL LEPAGE NRC REALTY MARKET REPORT BASED ON RESIDENTIAL SALES YTD REPORTED TO ORTIS MLS®
NRCRealty.ca
Fort Erie Unit Sales POPULATION (2016) 30,710 WEB SITE forterie.ca
5 Year Trend 850
Last 6 Months 80
680
60
510 40
UNITS SOLDS 2018 YTD 21 Attached 642 Detached 663 (+1.5%)Total AVERAGE SALE PRICE YTD 369,829 Attached 371,446 Detached 371,395 (+7%) Total METRICS (YTD) 58% Sales To Listings 61 Average Days on Mkt 3.4 Months Inventory
340 20
170 0
0 2014 2015 2016 2017 2018
Jul
Aug Sep
Oct
Nov Dec
Average Sale Price 5 Year Trend
Last 6 Months
375,000
395,000
281,250
296,250
187,500
197,500
93,750
98,750
0 2014 2015 2016 2017 2018
0 Jul
Aug Sep
Oct
Nov
Dec
Fort Erie is currently a balanced market with 3.4 months of inventory and 58% of listed houses selling. Unit Sales have increased 1.5% year over year and prices are up(+7%) compared to 2017.
ROYAL LEPAGE NRC REALTY MARKET REPORT BASED ON RESIDENTIAL SALES YTD REPORTED TO ORTIS MLS®
NRCRealty.ca
St. Catharines Unit Sales POPULATION (2016) 133,113 WEB SITE stcatharines.ca
5 Year Trend 2,600
Last 6 Months 250 200
1,950
150 1,300
UNITS SOLDS 2018 YTD 575 Attached 1459 Detached 2034 (-10.8%)Total AVERAGE SALE PRICE YTD 325,055 Attached 411,937 Detached 387,376 (+6.5%) Total METRICS (YTD) 62.4% Sales To Listings 31 Average Days on Mkt 2 Months Inventory
100 650
50
0
0 2014 2015 2016 2017 2018
Jul
Aug Sep Oct Nov Dec
Average Sale Price 5 Year Trend
Last 6 Months
390,000
410,000
292,500
307,500
195,000
205,000
97,500
102,500
0 2014 2015 2016 2017 2018
0 Jul
Aug Sep Oct
Nov Dec
St.Catharines is currently a Sellers market with 2 months of inventory and 62.4% of listed houses selling. Unit Sales have dropped 10.8% year over year however prices are up (+6.5%) compared to 2017.
ROYAL LEPAGE NRC REALTY MARKET REPORT BASED ON RESIDENTIAL SALES YTD REPORTED TO ORTIS MLS®
NRCRealty.ca
Thorold Unit Sales POPULATION (2016) 18,801 WEB SITE thorold.com
5 Year Trend
Last 6 Months
500
30
375
20
250
UNITS SOLDS 2018 YTD 89 Attached 230 Detached 319 (-24.9%)Total AVERAGE SALE PRICE YTD 328,148 Attached 397,413 Detached 378,148 (2.3%) Total METRICS (YTD) 49.8% Sales To Listings 38 Average Days on Mkt 4.3 Months Inventory
10
125 0
0 2014
2015
2016
2017
2018
Jul
Aug Sep
Oct
Nov Dec
Average Sale Price 5 Year Trend
Last 6 Months
380,000
425,000
285,000
318,750
190,000
212,500
95,000
106,250
0 2014
2015
2016
2017
2018
0 Jul
Aug Sep
Oct
Nov Dec
Thorold is currently a balanced market with 4.3 months of inventory and 49.8% of listed houses selling. Unit Sales have dropped year over year and average sale price up slightly (+2.3%) compared to 2017.
ROYAL LEPAGE NRC REALTY MARKET REPORT BASED ON RESIDENTIAL SALES YTD REPORTED TO ORTIS MLS®
NRCRealty.ca
Pelham Unit Sales POPULATION (2016) 17,110
5 Year Trend
Last 6 Months
350
25
WEB SITE pelham.ca
280
20
210
15
UNITS SOLDS 2018 YTD 33 Attached 176 Detached 209 (-25.6%)Total
140
10
70
5
AVERAGE SALE PRICE YTD 465,893 Attached 612,006 Detached 588,936 (+7.6%) Total METRICS (YTD) 46.5% Sales To Listings 49 Average Days on Mkt 4.5 Months Inventory
0
0 2014
2015
2016
2017
2018
Jul
Aug Sep
Oct
Nov Dec
Average Sale Price 5 Year Trend
Last 6 Months 620,000
590,000 442,500
465,000
295,000
310,000
147,500
155,000
0
0 2014 2015 2016 2017 2018
Jul
Aug Sep
Oct
Nov Dec
Pelham is currently a balanced market with 4.5 months of inventory and 46.5% of listed houses selling. Unit Sales have dropped year over year however prices have increased (+7.6%) compared to 2017.
ROYAL LEPAGE NRC REALTY MARKET REPORT BASED ON RESIDENTIAL SALES YTD REPORTED TO ORTIS MLS®
NRCRealty.ca
Welland Unit Sales POPULATION (2016) 52,593 WEB SITE welland.ca UNITS SOLDS 2018 YTD 151 Attached 697 Detached 848 (-11.1%)Total AVERAGE SALE PRICE YTD 286,109 Attached 346,101 Detached 335,418 (+12.1%) Total METRICS (YTD) 66.7% Sales To Listings 35 Average Days on Mkt 2.2 Months Inventory
5 Year Trend
Last 6 Months
1,100
100
825
75
550
50
275
25
0
0 2014 2015 2016 2017 2018
Jul
Aug Sep Oct Nov Dec
Average Sale Price 5 Year Trend
Last 6 Months
340,000
350,000
255,000
262,500
170,000
175,000
85,000
87,500
0 2014 2015 2016 2017 2018
0 Jul
Aug Sept Oct Nov Dec
Welland is currently a Sellers market with 2.2 months of inventory and 66.7% of listed houses selling. Unit Sales have dropped 11.1% year over year however prices have risen 12.1% compared to 2017.
ROYAL LEPAGE NRC REALTY MARKET REPORT BASED ON RESIDENTIAL SALES YTD REPORTED TO ORTIS MLS®
NRCRealty.ca
Port Colborne Unit Sales POPULATION (2016) 18,306 WEB SITE portcolborne.ca
5 Year Trend 500
Last 6 Months 50 40
375
30 250
UNITS SOLDS 2018 YTD 11 Attached 375 Detached 386 (+0.0%)Total AVERAGE SALE PRICE YTD 258,636 Attached 375,650 Detached 372,316 (+9.3%) Total METRICS (YTD) 68.3% Sales To Listings 41 Average Days on Mkt 2 Months Inventory
20 125
10
0
0 2014 2015 2016 2017 2018
Jul
Aug Sep
Oct
Nov Dec
Average Sale Price 5 Year Trend
Last 6 Months
375,000
400,000
281,250
300,000
187,500
200,000
93,750
100,000
0 2014 2015 2016 2017 2018
0 Jul
Aug Sep
Oct
Nov Dec
Port Colborne is currently a Sellers market with 2 months of inventory and 68.3% of listed houses selling. Unit Sales have remained the same over last year however prices are up 9.3% compared to 2017.
ROYAL LEPAGE NRC REALTY MARKET REPORT BASED ON RESIDENTIAL SALES YTD REPORTED TO ORTIS MLS®
NRCRealty.ca
Lincoln Unit Sales POPULATION (2016) 23,787 WEB SITE lincoln.ca
5 Year Trend
Last 6 Months
400
50 40
300
30 200
UNITS SOLDS 2018 YTD 128 Attached 220 Detached 348 (-7.2%)Total AVERAGE SALE PRICE YTD 397,175 Attached 557,396 Detached 523,751 (+2.2%) Total METRICS (YTD) 63.9% Sales To Listings 32 Average Days on Mkt 2.1 Months Inventory
20 100
10
0
0 2014
2015 2016 2017
2018
Jul
Aug Sep
Oct
Nov Dec
Average Sale Price 5 Year Trend
Last 6 Months
525,000
625,000
393,750
468,750
262,500
312,500
131,250
156,250
0 2014 2015 2016 2017 2018
0 Jul
Aug Sep
Oct
Nov Dec
Lincoln is currently a Sellers market with 2.1 months of inventory and 63.9% of listed houses selling. Unit Sales have dropped 7.2% year over year however prices remain stable (+2.2%) compared to 2017.
ROYAL LEPAGE NRC REALTY MARKET REPORT BASED ON RESIDENTIAL SALES YTD REPORTED TO ORTIS MLS®
NRCRealty.ca
West Lincoln Unit Sales POPULATION (2016) 14,500 WEB SITE westlincoln.ca UNITS SOLDS 2018 YTD 33 Attached 130 Detached 162 (-4.7%)Total AVERAGE SALE PRICE YTD 382,878 Attached 557,244 Detached 521,943 (-2.8%) Total METRICS (YTD) 58.2% Sales To Listings 36 Average Days on Mkt 2.7 Months Inventory
5 Year Trend
Last 6 Months
200
20
150
15
100
10
50
5
0
0 2014 2015 2016 2017 2018
Jul
Aug Sep
Oct
Nov Dec
Average Sale Price 5 Year Trend
Last 6 Months
550,000
645,000
412,500
483,750
275,000
322,500
137,500
161,250
0 2014 2015 2016 2017 2018
0 Jul
Aug Sep
Oct
Nov Dec
West Lincoln is currently a Sellers market with 2.7 months of inventory and 58.2% of listed houses selling. Unit Sales have dropped 4.7% year over year and prices down 2.8% compared to 2017.
ROYAL LEPAGE NRC REALTY MARKET REPORT BASED ON RESIDENTIAL SALES YTD REPORTED TO ORTIS MLS®
NRCRealty.ca
Grimsby Unit Sales POPULATION (2016) 27,314 WEB SITE grimsby.ca
5 Year Trend 550
Last 6 Months 60
440
45
330 30
UNITS SOLDS 2018 YTD 198 Attached 297 Detached 495 (+7.6%)Total AVERAGE SALE PRICE YTD 433,415 Attached 637,113 Detached 555,634 (-6.2%) Total METRICS (YTD) 57.6% Sales To Listings 36 Average Days on Mkt 2.1 Months Inventory
220 15
110 0
0 2014 2015 2016 2017 2018
Jul
Aug Sep
Oct
Nov Dec
Average Sale Price 5 Year Trend
Last 6 Months
595,000
585,000
446,250
438,750
297,500
292,500
148,750
146,250
0 2014 2015 2016 2017 2018
0 Jul
Aug Sep
Oct
Nov Dec
Grimsby is currently a Sellers market with 2.1 months of inventory and 57.6% of listed houses selling. Unit Sales have increased 7.6% year over year and prices are down slightly by 6.2% compared to 2017.
ROYAL LEPAGE NRC REALTY MARKET REPORT BASED ON RESIDENTIAL SALES YTD REPORTED TO ORTIS MLS®
NRCRealty.ca
Dunnville Unit Sales POPULATION (2016) 5,759
5 Year Trend
Last 6 Months
250
25
WEB SITE haldimandcounty.on.ca
200
20
150
15
UNITS SOLDS 2018 YTD 20 Attached 181 Detached 201 (-11.8%)Total
100
10
50
5
AVERAGE SALE PRICE YTD 304,300 Attached 415,869 Detached 404,768 (+14.5%) Total METRICS (YTD) 64.6% Sales To Listings 49 Average Days on Mkt 3.2 Months Inventory
0
0 2014 2015 2016 2017 2018
Jul
Aug Sep
Oct
Nov Dec
Average Sale Price 5 Year Trend
Last 6 Months
405,000
510,000
303,750
382,500
202,500
255,000
101,250
127,500
0 2014 2015 2016 2017 2018
0 Jul
Aug Sep
Oct
Nov Dec
Dunnville is currently a sellers market with 3.2 months of inventory and 64.6% of listed houses selling. Unit Sales have dropped 11.8% year over year however prices are up substantially at +14.5% compared to 2017.
ROYAL LEPAGE NRC REALTY MARKET REPORT BASED ON RESIDENTIAL SALES YTD REPORTED TO ORTIS MLS®
NRCRealty.ca
Hamilton Unit Sales
WEB SITE hamilton.ca UNITS SOLDS 2018 YTD 1140 Attached 3209 Detached 4349 (-19.4%)Total AVERAGE SALE PRICE YTD 342,042 Attached 458,184 Detached 427,740 (+3.7%) Total METRICS (YTD) 64.8% Sales To Listings 30 Average Days on Mkt 1.5 Months Inventory
5 Year Trend 5,800
Last 6 Months 450
4,350 300 2,900 1,450
150
0 20 13 20 14 20 15 20 16 20 17 20 18
POPULATION (2016) 551,751
0 Jul
Aug Sep Oct Nov Dec
Average Sale Price 5 Year Trend
Last 6 Months
430,000
445,000
322,500
333,750
215,000
222,500
107,500
111,250
0 2014 2015 2016 2017 2018
0 Jul
Aug Sep
Oct
Nov Dec
Hamilton is currently a Sellers market with 1.5 months of inventory and 64.8% of listed houses selling. Unit Sales have dropped 19.4% year over year and prices remain stable up 3.7% compared to 2017.
ROYAL LEPAGE NRC REALTY MARKET REPORT BASED ON RESIDENTIAL SALES YTD REPORTED TO ORTIS MLS®
NRCRealty.ca
Ancaster Unit Sales POPULATION (2016) 33,235 WEB SITE hamilton.ca UNITS SOLDS 2018 YTD 188 Attached 369 Detached 557 (-17.6%)Total AVERAGE SALE PRICE YTD 513,649 Attached 858,461 Detached 742,079 (-3.9%) Total METRICS (YTD) 48.4% Sales To Listings 41 Average Days on Mkt 2.7 Months Inventory
5 Year Trend 750
Last 6 Months 50 40
500
30 20
250
10 0
0 2014 2015 2016 2017 2018
Jul
Aug Sep
Oct
Nov Dec
Average Sale Price 5 Year Trend
Last 6 Months
775,000
780,000
581,250
585,000
387,500
390,000
193,750
195,000
0 2014 2015 2016 2017 2018
0 Jul
Aug Sep
Oct
Nov Dec
Ancaster is currently a sellers market with 2.7 months of inventory and 48.4% of listed houses selling. Unit Sales have dropped 17.6% year over year and prices down slightly (-3.9%) compared to 2017.
ROYAL LEPAGE NRC REALTY MARKET REPORT BASED ON RESIDENTIAL SALES YTD REPORTED TO ORTIS MLS®
NRCRealty.ca
Stoney Creek Unit Sales POPULATION (2016) 62,290 WEB SITE hamilton.ca
5 Year Trend 1,200
Last 6 Months 150
900
100
600
UNITS SOLDS 2018 YTD 531 Attached 545 Detached 1076 (-9.8%)Total AVERAGE SALE PRICE YTD 453,221 Attached 614,596 Detached 534,958 (-3%) Total METRICS (YTD) 54.5% Sales To Listings 36 Average Days on Mkt 2.3 Months Inventory
50
300 0
0 2014 2015 2016 2017 2018
Jul
Aug Sep Oct Nov Dec
Average Sale Price 5 Year Trend
Last 6 Months
555,000
570,000
416,250
427,500
277,500
285,000
138,750
142,500
0 2014 2015 2016 2017 2018
0 Jul
Aug Sep
Oct Nov Dec
Stoney Creek is currently a Sellers market with 2.3 months of inventory and 54.5% of listed houses selling. Unit Sales have dropped 9.8% year over year and prices are down slightly (-3%) compared to 2017.
ROYAL LEPAGE NRC REALTY MARKET REPORT BASED ON RESIDENTIAL SALES YTD REPORTED TO ORTIS MLS®
NRCRealty.ca
ROYAL LEPAGE NRC REALTY MARKET REPORT | NRCRealty.ca