Niagara’s real estate market paints a picture of balance and pontential. Despite an 11% dip in unit sales, this decline is complemented by a 13% decrease in average sale prices, as a result of more inventory and higher interest rates. With a comfortable 3.8 months of inventory, the market offers a favourable landscape for sellers that want to sell and buyers looking for that dream home. Niagara continues to provide opportunities and value in its housing market.
In Hamilton’s market, resilience and opportunity shine through. Although unit sales saw an 18% decrease, this decline was met with a modest 10% drop in average sale price, with some great well priced options on the market. The presence of only 2.1 months of inventory reflects a gradual building of inventory and strong negotiations between buyers and sellers. Hamilton continues to offer a dynamic and attractive housing landscape for all participants.
We expect inventory to build over the fall months as we move towards a balanced / buyers market. 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: -2%
Niagara Falls
Unit Sales: -23%
Average Sale Price: -15%
Fort Erie
Unit Sales: -4%
Average Sale Price: -17%
St. Catharines
Unit Sales: -13%
Average Sale Price: -13%
Thorold
Unit Sales: +11%
Average Sale Price: -15%
Pelham
Unit Sales: -5%
Average Sale Price: -12%
Welland
Unit Sales: -10%
Average Sale Price: -12%
Port Colborne
Unit Sales: -4%
Average Sale Price: -16%
Lincoln
Unit Sales: -3%
Average Sale Price: -17%
West Lincoln
Unit Sales: -9%
Average Sale Price: -10%
Grimsby
Unit Sales: -9%
Average Sale Price: -9%
Dunnville
Unit Sales: -15%
Average Sale Price: -10%
Hamilton
Unit Sales: -22%
Average Sale Price: -11%
Ancaster
Unit Sales: -1%
Average Sale Price: -2%
Stoney Creek
Unit Sales: -16%
Average Sale Price: -10%
Glanbrook
Unit Sales: -7%
Average Sale Price: -6%
Click here for more information on the August 2023 Residential Statistics