The Niagara real estate market shows modest growth with unit sales increasing by 1%. However, the average sale price has decreased by 3%, reflecting a slight softening in prices. Currently, there is 5.4 months of inventory available, indicating a balanced market where supply and demand are relatively stable. This combination suggests a stable environment for buyers and sellers, with prices slightly adjusting while the market maintains its equilibrium.
Hamilton’s real estate market is experiencing a slowdown, with unit sales declining by 5% and the average sale price dropping by 3%. With 3.5 months of inventory, the market leans slightly in favour of sellers, though the reduction in sales and prices suggests cooling demand. Buyers may find some opportunities as prices soften, but limited inventory could keep competition steady. Overall, the market is adjusting to changing conditions while remaining relatively balanced.
Review current market conditions below and speak with your Royal Lepage NRC REALTOR® for continued advice.
Niagara-on-the-lake
Unit Sales: +6%
Average Sale Price: -12%
Niagara Falls
Unit Sales: +12%
Average Sale Price: -1%
Fort Erie
Unit Sales: -2%
Average Sale Price: 0%
St. Catharines
Unit Sales: +2%
Average Sale Price: -3%
Thorold
Unit Sales: +4%
Average Sale Price: +3%
Pelham
Unit Sales: +2%
Average Sale Price: +4%
Welland
Unit Sales: -8%
Average Sale Price: -3%
Port Colborne
Unit Sales: +1%
Average Sale Price: -1%
Lincoln
Unit Sales: +6%
Average Sale Price: 0%
West Lincoln
Unit Sales: -17%
Average Sale Price: -8%
Grimsby
Unit Sales: -5%
Average Sale Price: -5%
Dunnville
Unit Sales: -4%
Average Sale Price: -1%
Hamilton
Unit Sales: -5%
Average Sale Price: -4%
Ancaster
Unit Sales: -1%
Average Sale Price: -8%
Stoney Creek
Unit Sales: -6%
Average Sale Price: -5%
Glanbrook
Unit Sales: -6%
Average Sale Price: -8%
Click here for more information on the August 2024 Residential Statistics.