Although there is still a significant difference between sale prices May 2022 versus May 2023, we have to keep in mind that the prices in the first half of 2022 were still at an all time high! In the second half of 2022 though, prices started to come down to a more pre-pandemic average.
“The Spring market has arrived in May of 2023.!! We saw an increase in sales, new listings and the average sale price compared to April 2023,” said NAR President Amy Layton. “The average days on market for listings has remained virtually the same.
We see there were less new listings and more sales in May 2023 than May 2022, plus another month in a row of a price increase. The Niagara housing market is continuing to hold value.”
(source: NAR)
Let’s have a look to see how your municipality did!!
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