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The Niagara real estate market continues to follow a typical summer pattern. While buyer activity remains steady, inventory is still giving purchasers plenty of choice as we move through August.
Across the Niagara Region, there are currently 2,979 active listings, with 245 new listings coming to market over the past seven days. During that same period, 106 homes sold, while 512 homes have sold over the past 30 days. The average time to sell remains 43 days.
In Fort Erie, the market remains active with 494 homes currently for sale. Over the last week, 52 new listings came to market and 17 homes sold. Over the past 30 days, 58 homes changed hands, with an average time on market of 37 days and an average sale price of $676,507.
Overall, the market continues to reflect normal seasonal trends. Buyers are taking advantage of increased inventory and have more time to compare properties before making a decision, while well-priced homes continue to attract interest.
As we move closer to Labour Day, the focus will be on whether buyer activity begins to increase and starts to absorb some of the available inventory, giving us a clearer picture of what to expect for the fall real estate market.
