Let’s see how the real estate market is doing in Niagara County for April 2018. Reviewing data provided by Western New York Real Estate Information Services (WNYREIS) as of 4/10/18, March 2018 was more beneficial to sellers than the same month in 2017.
Average sale price for single family homes & condos is up approximately $20k and time spent on the market is down over 20 days.
A Look at the Housing Statistics
SINGLE FAMILY HOMES
March 2018 had 188 new listings added to the market with an average list price of $164,967, a high for the past 12 months. Seven percent of actively listed properties are distressed properties (short sales, bank owned, foreclosures).
Niagara County single family home owners received offers after being on the market an average of 50 days. Recorded sales averaged $122,131 giving sellers a 97.3% list to sale price ratio.
WNYREIS reported 6 new condo/townhouse listings in March for a total of 13 properties available. None of the currently listed condos are in a distressed status.
Three sales were recorded in the condo/townhouse market with an average sale price of $166,167. ALL of the sales were cash deals with list to sale price ratio of 96.4%.
Niagara County Housing Statistics for March 2018
Niagara County Housing Listing & Sale Data for March 2018. Stats have been obtained from Western New York Real Estate Information Services (WNYREIS) as of April 10th, 2018.
|Statistic||Single Family Homes||Condo/Townhouses|
|Active Listings, # of||303||13|
|Active, # of DISTRESSED||23||0|
|% of Active-Distressed||7.6%||0|
|Close to List Ratio||97.3%||96.4%|
|Close to Original Ratio||94.6%||95.3%|
|Expired Listings, # of||213||12|
|List Price by Sq Ft Ratio||$93||$128|
|List Price, Avg||$164,967||$184,517|
|Months of Inventory||2||4|
|Number of New Listings||188||6|
|Sale Price, Avg||$122,131||$166,167|
|Sales, # of||127||3|
|Sales, # of CASH||40||3|
|% of closings CASH DEALS||31.5%||100.0%|
What does this mean if you’re buying a house in Niagara County?
If you’re shopping for a home in Niagara County, you may be fortunate enough to pay less than list price for your house right now. However as the months warm up, properties will be spending less time on the market and list prices may rise. Plus, cash offers are on the rise at 31.5% this past month.
Home buying is a competitive sport.
Low supply, high demand and buyers out there with cash make it crucial for buyers to submit a strong offer. Sit down with your real estate agent today to plan how you can make a strong but financially responsible offer on the home of your dreams.
What does this mean if you’re selling a house in Niagara County?
The list to sale price ratio is holding steady at about 96-97% for Niagara County. Despite not earning 100% of list price or higher, the market is still in the seller’s favor. The supply of housing available is still very low and buyers are willing to bid higher if the right home comes along.
Time spent on the market did its seasonal rise around the holidays and is on it’s way back down. Buyers will be out in full force soon. What do you need to do to be ready?
You might also be interested in: 10 Questions to Ask Yourself Before Selling Your Home
Just Listed Homes in Niagara County
Do you know how current home sales have impacted your home’s worth? Contact The Capozzi Team for your free & personalized home value estimation.
See additional reports on the Niagara County Real Estate Market.
View most recent inventory of single family homes that have JUST been added to the database in the average price range for Niagara County in March 2018. All homes here are priced at $122,000 or below.
Just Listed Homes in Niagara County