Niagara Association of REALTORS®

The number of homes sold through the MLS® System of the Niagara Association of REALTORS® (NAR) totaled 539 units in April 2025. This was a sharp decrease of 34.5% from April 2024.

Home sales were 42.6% below the five-year average and 33.5% below the 10-year average for the month of April.

On a year-to-date basis, home sales totaled 1,796 units over the first four months of the year. This was down sharply by 37.7% from the same period in 2024.

“Similar to many other markets in and around the Greater Golden Horseshoe, sales activity in our region posted the lowest April reading since the pandemic in 2020,” said Lisa Taylor, Chair of the Niagara Association of REALTORS® (NAR). “New listings are also on a downward trend as some sellers have decided to pull out of the market and await an eventual rebound in consumer confidence. However, due to a more protracted decline in sales, the market balance is now resting in buyer’s territory while inventories continue to accumulate and year-over-year changes in MLS® Benchmark Prices are back on negative ground.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $616,700 in April 2025, down by 4.7% compared to April 2024.

The benchmark price for single-family homes was $642,500, a minor decrease of 2.9% on a year-over-year basis in April. By comparison, the benchmark price for townhouse/row units was $571,900, a moderate decrease of 8.3% compared to a year earlier, while the benchmark apartment price was $398,400, a substantial decline of 10.3% from year-ago levels.

The average price of homes sold in April 2025 was $699,624, essentially unchanged, down just 0.2% from April 2024.

The more comprehensive year-to-date average price was $678,432, a small reduction of 1.4% from the first four months of 2024.

The dollar value of all home sales in April 2025 was $377.1 million, a substantial reduction of 34.6% from the same month in 2024.

The number of new listings saw a sharp decrease of 20.1% from April 2024. There were 1,546 new residential listings in April 2025.

New listings were 13.7% below the five-year average and 7.5% above the 10-year average for the month of April.

Active residential listings numbered 3,455 units on the market at the end of April, up by 4.8% from the end of April 2024. Active listings haven’t been this high in the month of April in more than a decade.

Active listings were 40.4% above the five-year average and 62.9% above the 10-year average for the month of April.

Months of inventory numbered 6.4 at the end of April 2025, up from the 4 months recorded at the end of April 2024 and above the long-run average of 3.2 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.