The Big PictureOver the past 30 days, 58 homes sold across Fort Erie’s eleven neighbourhoods, up from 55 in the prior 30 days and well ahead of the 40 sold in the same stretch last year. The
June 2020 - Market Update
Dated: July 6 2020
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June 2020 Real Estate Sales
| Market | #of Sales | Change | Average Sale Price | Change |
| Fort Erie | 66 | 🔼21 | $484,270 | 🔽2.03% |
| Central Avenue | 15 | 🔼7 | $344,967 | 🔽6.97% |
| Crystal Beach | 13 | 🔼8 | $491,417 | 🔼10.73% |
| Crescent Park | 12 | 🔽4 | $485,875 | 🔽16.63% |
| Ridgeway | 17 | 🔼5 | $587,612 | 🔼18.72% |
| Stevensville | 3 | 🔼1 | $495,000 | 🔼22.00% |
| Port Colborne | 22 | 🔼4 | $366,245 | 🔽9.78% |
| Durham (East Side) | 6 | 🔼4 | $267,750 | 🔽25.42% |
| Highway 58 & Main St | 9 | 🔼3 | $386,822 | 🔼11.32% |
| Sherkston & Bethel | 1 | 🔽4 | $345,000 | 🔽24.84% |
| Sugarloaf | 5 | 🔸0 | $379,400 | 🔽14.16% |
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!
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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