August is always a rush to seize the last bit of summer before the school year hits, and it shows that Niagara’s focus was fun in the sun. With the exception of Port Colborne and St Catharines, last month saw both a decrease in the amount of new listings, yet the amount of sales held steady. That means the demand from buyers is slowly picking up for affordable, well-priced homes.

We are also seeing the gap between this year and last year getting smaller regarding average sale price. Prices are only down 1% from July to August of 2023, and down 3.6% from August 2022, compared to 6.6% in july.

Niagara real estate continues to hold steady, and with the recent Bank of Canada announcement on September 6th that interest rates will hold, we predict a busy fourth quarter. Fall market is historically favourable to buyers, as sharp pricing on available listings is usually the norm to sell before the snow falls. 

If you plan on making a move before the end of the year, the next few weeks might be your best, and last chance!