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Overview
The Niagara real estate market in November 2024 presents a dynamic picture with varying trends across different municipalities. While some areas like Fort Erie and St. Catharines show promising signs, others like Fonthill/Pelham and Welland appear to be cooling down.
Key Takeaways:
- Active Listings: Overall, the number of active listings has increased, indicating a potentially larger pool of properties available for buyers.
- New Listings: New listings have also seen a rise, suggesting a steady supply of homes entering the market.
- Sales Activity: Sales activity is mixed. While St. Catharines and Niagara Falls have experienced significant sales, other areas like Fort Erie and Welland have seen a decline.
- Days on Market (DOM): DOM varies across municipalities. Areas like Fort Erie and St. Catharines have relatively shorter DOM, indicating faster sales, while Fonthill/Pelham and Thorold have longer DOM, suggesting slower market activity.
- Average Prices: Average prices remain relatively stable, with some fluctuations across different areas.
Market Trends by Municipality:
- Fort Erie: While active listings have increased, sales have decreased. However, the shorter DOM suggests that properties are still selling relatively quickly.
- Niagara Falls: This market continues to be active with a high number of sales and a relatively short DOM.
- St. Catharines: A significant increase in both active listings and sales indicates a strong market with ample choices for buyers.
- Port Colborne/Wainfleet: This area has seen a decrease in both active listings and sales. The longer DOM suggests a slower market.
- Fonthill/Pelham: A significant increase in active listings and a longer DOM indicate a cooling market.
- Welland: Similar to Fonthill/Pelham, Welland has seen an increase in active listings and a longer DOM, suggesting a slower market.
- Lincoln: A moderate increase in active listings and a relatively short DOM suggest a balanced market.
- Thorold: A moderate increase in active listings and a longer DOM indicate a potential slowdown in the market.
Overall, the Niagara real estate market in November 2024 presents a mixed bag of trends. While some areas continue to be active, others are showing signs of slowing down. Buyers and sellers should carefully consider these trends when making decisions in the market.
