NIAGARA REAL ESTATE MARKET UPDATE - JANUARY 2023

The Niagara Real Estate Market Report Year over Year - January 2023 vs January 2022

As expected for January 2023, we are seeing less sales and more homes going up for sale compared to January 2022, which was a highly frenzied seller's market, as we all recall. We are definitely seeing a more balanced Real Estate Market.

New listings in the Niagara Region were 771 in January 2023 vs 529 in January 2022, which is a increase of 45.7%

Residential home sales in Niagara totaled 302 homes in January 2023 compared to 454 in January 2022, which is a decrease of 33.5%

The average HPI composite benchmark* price was $629,100 in January 2023, compared to $762,900 in January 2022, which is a decrease of 17.5%

The Niagara Real Estate Market Report Month to Month, January 2023 vs December 2022.

New listings in the Niagara Region were 771 in January 2023 vs 433 in December 2022, which is a increase of 78.1%

Residential home sales totaled 302 in January 2023 compared to 275 in December 2022, which is a decrease of 9.8%

The average HPI composite benchmark* price was $629,100 In January 2023, compared to $631,600 in November 2022, which is an decrease of 0.4%.️️

The characteristics of the HPI composite benchmark is a 1,276 sq. Ft. home between the age of 51 and 99 with 3 bedrooms and 2 bathrooms, and an attached single car garage.

If you are thinking of making a move, or just have any questions about the market , call me! I'm happy to help.