Niagara Association of REALTORS®

The number of homes sold through the MLS® System of the Niagara Association of REALTORS® (NAR) totaled 470 units in March 2026. This decreased by 6.4% from March 2025.

Home sales were 27.6% below the five-year average and 32.9% below the 10-year average for the month of March.

On a year-to-date basis, home sales totaled 1,198 units over the first three months of the year. This was a decline of 4.3% from the same period in 2025.

“Sales activity and new listings have both taken a downturn in recent months, as overall inventories are also continuing to unwind from their peak last spring. With softer market conditions prevailing in our region, buyers will find many opportunities await should they decide to return to the search for a new home,” said Sarah Hart, Executive Officer of the Niagara Association of REALTORS® (NAR). “In other housing news, the City of St. Catharines received its third installment from the Housing Accelerator Fund in the amount of $6.42 million. The funding will support a range of initiatives, to continue the City’s efforts to get more homes built.”

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 $580,800 in March 2026, falling by 6.2% compared to March 2025.

The benchmark price for single-family homes was $606,600, a decline of 6.1% on a year-over-year basis in March. By comparison, the benchmark price for townhouse/row units was $527,200, down by 8.7% compared to a year earlier, while the benchmark apartment price was $357,200, a decrease of 8.4% from year-ago levels.

The average price of homes sold in March 2026 was $621,944, down by 8.1% from March 2025.

The more comprehensive year-to-date average price was $620,966, a decrease of 7.2% from the first three months of 2025.

The dollar value of all home sales in March 2026 was $292.3 million, a big reduction of 14% from the same month in 2025.

The number of new listings decreased by 9.7% from March 2025. There were 1,382 new residential listings in March 2026.

New listings were 3.2% below the five-year average and 8% above the 10-year average for the month of March.

Active residential listings numbered 2,782 units on the market at the end of March, a decline of 9.8% from the end of March 2025.

Active listings were 22.6% above the five-year average and 52.6% above the 10-year average for the month of March.

Months of inventory numbered 5.9 at the end of March 2026, down from the 6.1 months recorded at the end of March 2025 and above the long-run average of 3.1 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.