Apr 09, 2024
St. Catharines, ON (May 2, 2024) - Residential home sales activity recorded through the MLS® for the Niagara
Association of REALTORS® (NAR) totaled 602 units in April 2024, compared to 560 units in April 2023.
In April, the Niagara Association of REALTORS® listed 1396 residential properties compared to 991 in April
2023. The average days it took to sell a home in April 2024 was 40 days, a 29% increase from April 2023.
"The Niagara Market continues the upward surge as the HPI Benchmark jumps to 644,700 from 633,400 last
month. The Days on market continues going down as we dropped to 40 Days from 43 in March. The listings
have also continued to climb with 1396 in April up from 1167 in March. If interest rates start to decrease it
could create pressure on the Niagara Market. As always Buyers and Sellers really need to navigate the real
estate market with a local REALTOR® to gain the knowledge and insight of this market, that continues to see
variations within its 12 municipalities,” reports Niagara Association of REALTORS® President, Nathan
Morrissette.
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 for the Niagara Region was
$644,700 in April 2024. This was a 1.4% decrease from April 2023.
The characteristics of the HPI composite benchmark is a home between the age of 51 to 99 with three
bedrooms and two bathrooms. A full list can be found in the accompanying chart.