May 2020 - Market Update

Dated: June 13 2020

Views: 589

Welcome to my new website. I hope you enjoy using this site to help you find your next home. 

As I'm launching this new website, I thought it would be best to start providing input into how the market is doing and what you can expect to happen in the future. I'll be focusing on the areas that I spend most of my time in, Fort Erie and Port Colborne

Think of this first post as the baseline from where we'll start looking at home prices in the area. We're currently seeing price increases of around 20% since January. So, keep that in mind as we move forward with analysis on the market especially since COVID-19 has become a factor and we don't quite understand the long-term effects it could have on real estate values.

May 2020 Real Estate Sales

Market#of SalesAverage Sale Price
Fort Erie45$494,313
Central Avenue8$370,813
Crystal Beach5$443,800
Crescent Park16$582,774
Ridgeway12$494,977
Stevensville2$405,750
Port Colborne18$406,000
Durham (East Side)2$359,000
Highway 58 & Main St6$347,500
Sherkston & Bethel5$459,000
Sugarloaf5$442,000

A note of caution for May 2020's numbers: The Crescent Park numbers are slightly inflated as there were two homes that sold for over $1 million in May 2020. Both homes are waterfront properties. Something to keep in mind.

I'm not going to provide much analysis on the market at this point, but moving forward we will work from this baseline and give you a good idea of what's happening in the market. 

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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