June 2020 - Market Update

Dated: July 6 2020

Views: 1103

June 2020 Real Estate Sales

Market#of SalesChangeAverage Sale PriceChange
Fort Erie66πŸ”Ό21$484,270πŸ”½2.03%
Central Avenue15πŸ”Ό7$344,967πŸ”½6.97%
Crystal Beach13πŸ”Ό8$491,417πŸ”Ό10.73%
Crescent Park12πŸ”½4$485,875πŸ”½16.63%
Port Colborne22πŸ”Ό4$366,245πŸ”½9.78%
Durham (East Side)6πŸ”Ό4$267,750πŸ”½25.42%
Highway 58 & Main St9πŸ”Ό3$386,822πŸ”Ό11.32%
Sherkston & Bethel1πŸ”½4$345,000πŸ”½24.84%

What a month June was. About mid-way through the month, activity started to increase significantly. Old listings started to sell, and we moved into a strong seller's market. 

At first glance, the average sale price in many markets decreased, that's not because of the average price is going down, however. Homes have started to sell for over asking price on several instances and the market is ticking upward at a fairly rapid pace. With the number of sales increasing, the average price usually moves slightly downward as the market is correcting listings are hitting the market.

I anticipate a very busy July 2020. I'm excited to see how it pans out as we move back to some normalcy following the reopening of the economy. Stay safe!

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Mike Reles

I believe that real estate is personal. Not only is it the most meaningful investment in your life, but your home is also the place where you create memories with the people that you care about most. ....

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