Niagara Association of REALTORS®

Market Conditions


Single Detached

Months of inventory for single detached homes numbered 6.5 at the end of the fourth quarter of 2023, up from the 5.4 months recorded at the end of the fourth quarter of 2022.

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.

Despite a more balanced market, homes spent less time on the market in the fourth quarter of 2023 than they had a year earlier.

The median number of days on market for single detached homes was 27 in the fourth quarter of 2023, down slightly from 28 days in the fourth quarter of 2022.


Townhouse

Months of inventory for townhouse and row units numbered 6.7 at the end of the fourth quarter of 2023, up from the 6 months recorded at the end of the fourth quarter of 2022.

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.

With a more balanced market, townhouse and row units spent more time on the market in the fourth quarter of 2023 than they had a year earlier.

The median number of days on market for townhouse and row units was 31.5 in the fourth quarter of 2023, up from 25 days in the fourth quarter of 2022.



Apartment Units

Months of inventory for apartment units numbered 11.3 at the end of the fourth quarter of 2023, up from the 7.8 months recorded at the end of the fourth quarter of 2022.

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.

Despite a more balanced market, apartment units spent less time on the market in the fourth quarter of 2023 than they had a year earlier.

The median number of days on market for apartment units was 36.5 in the fourth quarter of 2023, down slightly from 39 days in the fourth quarter of 2022.



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