An In-Depth Review of Niagara's Housing Market in 2018
Updated: Dec 6, 2019
Chugging Along If you were to ask people which city had both positive growth in terms of total sales AND average sale price in 2018, Fort Erie may not be at the top of the list. Meanwhile, this community has seen strong and consistent growth across several segments of the market.
Sales Volume With 670 sales in 2018, that 1.5% increase over 2017 should be taken with a grain of salt. The sales volume over the last 5 years has been fairly consistent 610 – 690 except for (you guessed it) 2016 when the total sales topped 820 for the year.
Average Sale Price In spite of that relatively uneventful sales volume, the average sale price has made steady gains with a 7% bump in 2018 v 2017. More alarming is the 35.6% increase when comparing 2018 to 2016.
The High (er) End
One major area of growth is in the $500,000 + bracket where sales were up 31.3% in 2018 v 2017 with 105 homes changing hands. That represents 16% of the market share. In fact, in the previous 3 years (’16 – ’18) there were 245 sales over $500,000. That number drops to 58 in the 3 years before (’13 – ’15).
Geographical Impact Similar to NOTL, Fort Erie has quite a wide variety of ground to cover. From rural, Stevensville, Crystal Beach, Crescent Park, waterfront, cott