As Niagara says goodbye to summer and return to their back-to-school routines, real estate seemed to be an afterthought for most in the month of September.

We are continuing to see a dip in sales compared to August, but an increase in new listings.

The Benchmark price across Niagara has dipped a bit as well by 1.4%, from $659k to $651k, however St Catharines is the only area that’s gone up from $587k to $600k. For the rest of Niagara, with high listings and low sales, it shows signs of opportunity for qualified buyers. With all eyes on Bond Yields for fixed rates, and Bank of Canada’s next announcement on October 25th, the housing market finds itself at a crossroads for the remainder of 2023.

The next few weeks could be the chance for previous disenchanted buyers to come back to the table and negotiate deals that were previously not available. Sellers planning on getting sold before the new year may need to prepare, price sharp, and stand out over comparable competition.

The last quarter of the year is usually busier as people are hoping to move before the snow & the holidays. We shall see if October brings more than just ghouls and ghosts.