Market Update Oct 2022

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Month over month, Niagara real estate has shown a consistent drop in the average sale price, however the month of October is showing early signs of stability and buyer confidence. The number of unit sales is slightly higher when compared to last month, and inventory slightly going down. Average days on market added an additional week, and as existing inventory starts to get scooped up, pricing on recent sales seem to be holding fairly steady.

Buyers are now conditioned to expect negotiation, and conditional sales are the norm again, especially the condition on the Sale of a Buyer’s property

This may be an early indication of a trend towards stable pricing and sales in Niagara. Not to say pricing is no longer in a downward trend, but signs of the soft-landing that has been forecasted, seems to be coming to fruition.

Curious what this market could do for you, or just want to keep a closer eye on the market forecast? Reach out to any one of your friendly neighbourhood Portfolio REALTORSĀ®.


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