Market Tracker

Tracker for the Niagara Real Estate Market.

Thank-you for visiting this page. We have assembled this information in an effort to keep you informed with the most recent and relevant.

There is a lot being discussed in respect to the Real Estate market currently. Inflation, interest rate decreases, new construction numbers, public policies that relate to immigration numbers and new mortgage rules coming into play shortly. Lots of factors to consider when we look at where we are at, and where we project we may be going.

Since the interest rate increases to curb inflation started taking affect in the market, we have seen a drastic drop in sales seasonably and a large number of new listings month after month since April. Finally in October we saw what is hopefully a bit of positivity in respect to purchasers starting to feel confident getting back in there. There is speculation we could see another large rate cut December 11^th at the next announcement, but that remains to be seen. There is no guarantee. Number of sales increased month over month for October vs September by 8.4%, which feels significant at this point. Inversely number of new listings fell from it’s quite exorbitant number in September of 1,540 (highest number of new listings outside of 2022 over the last 10 years) to 1,363 to tighten the gap between sales and new listings! Still a buyer’s market though with 6 months of inventory and taking about two and half months to sell a home here in the Region. Average price has gone up a touch, 1.7%, to $696,750, which is good for sellers, maybe not so much for buyers, although that is an indicator that your equity will increase.

With the announcements yet to come this year and next, relating to mortgage rates, that should give more relief for buyers, renewals and anyone in a variable rate mortgage and young people hopefully wanting to buy eventually. With the number of permanent and temporary resident status grants cut by almost half for the next couple of years, that should provide some reprieve on housing demand and new construction required. Although, new construction could see better numbers with financing more readily accessible/affordable and more demand for purchases. It would be great to see the words “housing crisis” removed from the media in it’s entirety.

With all the highlighted media discussion on the Real Estate market right now and all the ongoing changes, it is a great time to get in touch with your McGarr Realtor for a chat. They can provide you with a more indepth market snapshot that relates to you and your needs exclusively, or if you just have any questions about what is happening more definitively with Real Estate! We are your Region specific experts here in Niagara and would be happy to share our valuable insights!

There are a few things for you to know:

The data is supplied from the Niagara Association of REALTORS®
Behind every statistic is a story and further information. For example, the average sale prices can be impacted as a result of reduced sales volume.
The information below is being pulled on a daily basis so it will change as we move through the spring.
To get a closer look at anything regarding the Niagara real estate market, reach out to one of our team to discuss further.
The info below is segmented by the Region and then 10 municipalities with each graph titled to provide context. Scroll down to find your city.

Niagara Region First 91 Days Infographic Report