b-LOG: 2016 Niagara Real Estate Market Report
Welcome to 2017! Needless to say, 2016 was a year of surprises and “wow” moments whether looking at politics, pop culture or real estate.
In terms of real estate in Niagara, we had a historic year with double digit increases across most segments of the market. For years we have watched the “GTA effect” trickle down the QEW as real estate in Oakville, Burlington, Hamilton, Stoney Creek and Grimsby all experienced major shifts in demand and pricing. 2016 turned out to be Niagara’s turn as we saw a huge shift in demand starting around January/February as multiple offers, over list sale prices and general head-spinning activity became the norm.
Is this a new normal? Is there a bubble to burst? That is the million dollar question that you will get a million different answers to. As far as our little Niagara goes, what is feeding this market surge is real. It is a population shift as people of all demographics make the move from the relative chaos that is the GTA to the relative calm and affordability that we have to offer here in Niagara.
Buyers looking to downsize to a condo, simplify to a bungalow, live in a home near the lakefront, build a new home, upsize to a larger country estate property or any other combination of options here for real estate in the Niagara region.
So, in an effort to keep you informed and fully up to speed on the latest market trends, we are introducing a series of vLOGs which will include monthly market report videos along with several general real estate info videos.
If you would ever like to discuss the market value of your home in our market, please feel free to contact us at any time.