Niagara Association of REALTORS®

The number of homes sold through the MLS® System of the Niagara Association of REALTORS® (NAR) totaled 358 units in December 2025. This was a moderate decrease of 6.3% from December 2024.

Home sales were 5.8% below the five-year average and 12.9% below the 10-year average for the month of December.

On an annual basis, home sales totaled 6,098 units over the course of 2025. This decreased by 7.7% from 2024.

“Despite momentum picking up over the second half of the year, 2025 came in at subdued levels compared to recent history,” said Sarah Hart, Executive Officer of the Niagara Association of REALTORS® (NAR). “Sellers were extremely active in the past year, with inventories rising to some of the highest levels on record. With many tariffs still in place it’s going to be a slow and steady march back to more solid ground, although at the very least interest rates are not expected to go any lower so that may prompt some buyers to begin coming back to the market.”

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 $575,200 in December 2025, a moderate decrease of 7.5% compared to December 2024.

The benchmark price for single-family homes was $600,200, falling by 7.3% on a year-over-year basis in December. By comparison, the benchmark price for townhouse/row units was $512,600, a sharp decrease of 13.1% compared to a year earlier, while the benchmark apartment price was $381,800, down by 4% from year-ago levels.

The average price of homes sold in December 2025 was $614,573, a decline of 9% from December 2024.

The more comprehensive annual average price was $668,349, down modestly by 3.4% from all of 2024.

The dollar value of all home sales in December 2025 was $220 million, a substantial decrease of 14.8% from the same month in 2024.

The number of new listings saw a big reduction of 10.7% from December 2024. There were 503 new residential listings in December 2025.

New listings were 1.5% below the five-year average and 7.5% above the 10-year average for the month of December.

Active residential listings numbered 2,412 units on the market at the end of December, increasing by 5.2% from the end of December 2024. Active listings haven’t been this high in the month of December in more than a decade.

Active listings were 29.4% above the five-year average and 56.1% above the 10-year average for the month of December.

Months of inventory numbered 6.7 at the end of December 2025, up from the 6 months recorded at the end of December 2024 and above the long-run average of 4.3 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.