As spring bursts into life (slightly dampened by a higher than normal amount of rain over the past week or so), so do the number of Niagara on the Lake listings and incoming telephone calls. Having said that, the market was pretty good right through since January but there is no doubt that once the sun shines and the temperatures are in positive territory, things get lively!
As I drive around Niagara on the Lake and other parts of the Niagara Homes region, there is a hive of activity – lawns being cut, yards being tidied up, trees trimmed, painting & decorating vans in driveways, building work getting under way.
Of course, in addition to all this activity, there is a significant increase in the number of ‘For Sale’ signs being erected and, perhaps more importantly, more ‘Sold’ signs appearing as people make that decision to move into the area.
In spite of predictions of price drops or at least leveling off, my colleagues and I have noticed a steady rise in local prices. Of course there are Niagara homes that have been on the market for quite a while and there are those that have had price reductions, but overall, the trend is UP. Building lots that used to be in good supply are disappearing and there are fewer and fewer lots available as the amount of non-agricultural land is in limited supply.
As you might suspect, the number of people retiring to the area continues to rise and the sale of new development homes (particularly luxury bungalows on small lots) is very strong. The demand from GTA buyers for Niagara on the Lake real estate is helping to push prices slowly but steadily higher in the immediate area and this looks set to continue for some time to come.
If you are considering moving to the area, with Niagara on the Lake realty on your mind, and would like to explore the possibilities available to you, simply contact me at Niagara Homes for a casual conversation to start. I am only too happy to help you with your Niagara home search.