Thriving Tides: First Quarter Real Estate Rollercoaster in Niagara!

by Jazmine Alford

Improving First Quarter in the Niagara Region: Things are Picking Up!

The age old question for a realtor: How’s the Market. Well folks, seems like things are doing fairly well in the Niagara Region despite the pressure of unchanging interest rates.

Here is how the market in the Niagara Region is stacking up based on the number of sales per month and the median price from January to March 2024.

Sales include pending and closed deals. All numbers are based on MLS System data owned by the Niagara Association of REALTORS® as of April 1, 2024, 10:45 am.

January to March Numbers

Month	No. of Sales	% Change	Median Pr	% Change
January	393		$615,000
February	565	43.8%	$603,000	-2.0%
March	599	6.0%	$648,500	7.5%

How Does This Compare to Your Market?

As these numbers encompass all of the Niagara Region, they do not necessarily align with the sales statistics for each city. If you are interested, feel free to reach out to me to see how your city in Niagara compares, even how your specific neighborhood location measures up!

The Chart Explained

As you can see from the chart, sales showed a sizable increase, 43.8%, between January and February. As one might suspect, January historically tends to be one of the slower months. The median price however did decrease between January and February by about -2%.

Though not as pronounced, March again outpaced February in the number of sales by about 6%. The median price difference between March and February does indicate a notable increase of about 7.5%.

Listings Are Up

As of April 1st, there are 2,018 active listings, plus 215 conditional listings for a total of 2,233 and more listings continue to come on the market. As the spring market unfolds, it’s expected that more listings will continue to be posted on MLS.

Sales Are Expected to Improve as Well

Of course, it’s expected that sales will continue to pick up as well. Improved weather, fairly stable rates, pent-up demand and an improved supply of listings will contribute to a more upbeat market.

In conclusion, the spring market is well on its way. If you’re considering selling don’t hesitate to reach out to find out how your home compares in today’s market with a FREE home valuation from a “Gold Standard” Realtor.