Sunday 24 May 2009

Prices are up?

This is a difficult picture to explain. Comparing April 2008 to April 2009 it appears that prices have increased by 2%. Volume is still down 21% reflecting a market that does not believe in itself. Many are having difficulty selling their home and afraid to offer on another with a "sale of property" condition. Look how uneven it is. Prices are down 12% in Niagara-on-the-Lake, but Niagara Falls, Thorold, Pt. Colborne, and Pelham are doing well. I have no explanation.

Residential Sales

2008

2009

Comparison

# of Listings

Average Sale Price

# of Listings

Average Sale Price

Volume Change

Price Change

NIAGARA-ON-THE-LAKE

22

355,649

18

311,667

82%

88%

NIAGARA FALLS

131

178,668

108

190,735

82%

107%

FORT ERIE

61

180,526

46

160,699

75%

89%

ST.CATHARINES

212

195,595

142

194,576

67%

99%

THOROLD

30

190,467

27

202,848

90%

107%

FONTHILL/PELHAM

23

262,696

26

284,388

113%

108%

WELLAND

87

172,190

58

168,260

67%

98%

PORT COLBORNE/WAINFLEET

35

147,817

37

170,468

106%

115%

LINCOLN/WEST LINCOLN

27

269,306

31

255,132

115%

95%

Totals

628

195,684

493

198,941

79%

102%

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