Niagara Association of REALTORS®

Market Conditions


Single Detached

Months of inventory for single detached homes numbered 0.8 at the end of the first quarter of 2022, up slightly from the 0.7 months recorded at the end of the first quarter of 2021.

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 the same amount of time on the market in the first quarter of 2022 as they had a year earlier.

The median number of days on market for single detached homes was 7 in the first quarter of 2022, unchanged from 7 days in the first quarter of 2021. This was the lowest level of median number of days on market for single detached homes ever recorded in any quarter.


Townhouse

Months of inventory for townhouse and row units numbered 0.7 at the end of the first quarter of 2022, up slightly from the 0.5 months recorded at the end of the first quarter of 2021.

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, townhouse and row units spent the same amount of time on the market in the first quarter of 2022 as they had a year earlier.

The median number of days on market for townhouse and row units was 7 in the first quarter of 2022, unchanged from 7 days in the first quarter of 2021. This was the lowest level of median number of days on market for townhouse and row units ever recorded in any quarter.



Apartment Units

Months of inventory for apartment units numbered 1 at the end of the first quarter of 2022, down slightly from the 1.1 months recorded at the end of the first quarter of 2021. This was the lowest level of months of inventory ever recorded in any quarter.

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 tighter market, apartment units spent less time on the market in the first quarter of 2022 than they had a year earlier.

The median number of days on market for apartment units was 9 in the first quarter of 2022, down slightly from 11 days in the first quarter of 2021. This was the lowest level of median number of days on market for apartment units ever recorded in any quarter.