Niagara Association of REALTORS®

The number of homes sold through the MLS® System of the Niagara Association of REALTORS® (NAR) totaled 448 units in November 2025. This was a decline of 6.1% from November 2024.

Home sales were 9.1% below the five-year average and 19.6% below the 10-year average for the month of November.

On a year-to-date basis, home sales totaled 5,743 units over the first 11 months of the year. This was down by 7.7% from the same period in 2024.

“Sales activity saw a small resurgence over the second half of the year but the momentum appears to be waning as we head into the end of 2025,” said Sarah Hart, Executive Officer of the Niagara Association of REALTORS® (NAR). “New listings are posting some their highest levels on record and overall inventories remain historically elevated, so there’s plenty of choice out there for buyers who are looking for their next home.”

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 $583,000 in November 2025, falling by 7.3% compared to November 2024.

The benchmark price for single-family homes was $608,200, a decline of 7.1% on a year-over-year basis in November. By comparison, the benchmark price for townhouse/row units was $521,800, down sharply by 10.2% compared to a year earlier, while the benchmark apartment price was $384,200, a decrease of 8.3% from year-ago levels.

The average price of homes sold in November 2025 was $630,292, a decrease of 5.7% from November 2024.

The more comprehensive year-to-date average price was $671,646, a small reduction of 3.1% from the first 11 months of 2024.

The dollar value of all home sales in November 2025 was $282.4 million, a substantial decline of 11.5% from the same month in 2024.

The number of new listings was up only 0.6% (six listings) from November 2024. There were 1,091 new residential listings in November 2025.

New listings were 1.4% above the five-year average and 17.8% above the 10-year average for the month of November.

Active residential listings numbered 3,265 units on the market at the end of November, up by 6.8% from the end of November 2024. Active listings haven’t been this high in the month of November in more than 15 years.

Active listings were 31.2% above the five-year average and 58.3% above the 10-year average for the month of November.

Months of inventory numbered 7.3 at the end of November 2025, up from the 6.4 months recorded at the end of November 2024 and above the long-run average of 4.2 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.