Niagara market will stay balanced, CMHC says
According to CMHC, the Niagara Region is currently in a balanced market and it’s expected to remain that way in 2012. A balanced market is defined as a market with stable prices, 40% to 55%
sales-to-new listing ratio and 30 to 60 days on the market.
Forecasts indicate an average price increase for 2011 of 1.5 % . An of approximately 1% is expected for 2012.
The largest migration to the Niagara Region from 2005 to 2009 is from Ontario residents. Most of these Niagara newcomers are pre-retirees with children and retirees making up the largest portion.
The result? Sales of homes of $400,000 or more were up nearly 20% from January to September 2011.