Niagara Association of REALTORS®

The number of homes sold through the MLS® System of the Niagara Association of REALTORS® (NAR) totaled 335 units in January 2026. This was down modestly by 1.2% (four sales) from January 2025.

Home sales were 14.4% below the five-year average and 20.6% below the 10-year average for the month of January.

“Sales activity appears to have stabilized at below-average levels over the past several months, with no indication of any turning points in either direction,” said Sarah Hart, Executive Officer of the Niagara Association of REALTORS® (NAR). “New listings are beginning to unwind from their recent heights, which is starting to bring down overall inventories from their peak as well. With our market balance still trending in buyer’s territory, a shift towards lower levels of supply may be a productive outcome in the near term as buyers seem to be waiting on the sidelines for much longer than originally anticipated.”

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 $573,900 in January 2026, falling by 8.3% compared to January 2025.

The benchmark price for single-family homes was $599,900, a decline of 8.1% on a year-over-year basis in January. By comparison, the benchmark price for townhouse/row units was $511,100, down sharply by 12% compared to a year earlier, while the benchmark apartment price was $371,100, a decrease of 7.8% from year-ago levels.

The average price of homes sold in January 2026 was $603,363, a moderate decrease of 7% from January 2025.

The dollar value of all home sales in January 2026 was $202.1 million, a decline of 8.1% from the same month in 2025.

The number of new listings was down sharply by 19.2% from January 2025. There were 1,004 new residential listings in January 2026.

New listings were 2.6% above the five-year average and 17.5% above the 10-year average for the month of January.

Active residential listings numbered 2,404 units on the market at the end of January, a minor decrease of 3.7% from the end of January 2025.

Active listings were 27.3% above the five-year average and 54.6% above the 10-year average for the month of January.

Months of inventory numbered 7.2 at the end of January 2026, down from the 7.4 months recorded at the end of January 2025 and above the long-run average of 4.1 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.