St. Catharines, ON (May 2, 2024) - Residential home sales activity recorded through the MLS® for the NiagaraAssociation of REALTORS® (NAR) totaled 602 units in April 2024, compared to 560 units in April 2023.In April, the Niagara Association of REALTORS® listed 1396 residential properties compared to 991 in April2023. The average days it took to sell a home in April 2024 was 40 days, a 29% increase from April 2023."The Niagara Market continues the upward surge as the HPI Benchmark jumps to 644,700 from 633,400 lastmonth. The Days on market continues going down as we dropped to 40 Days from 43 in March. The listingshave also continued to climb with 1396 in April up from 1167 in March. If interest rates start to decrease itcould create pressure on the Niagara Market. As always Buyers and Sellers really need to navigate the realestate market with a local REALTOR® to gain the knowledge and insight of this market, that continues to seevariations within its 12 municipalities,” reports Niagara Association of REALTORS® President, NathanMorrissette.The MLS® Home Price Index (HPI), tracks price trends far more accurately than is possible using average ormedian price measures. The overall MLS® HPI composite benchmark price for the Niagara Region was$644,700 in April 2024. This was a 1.4% decrease from April 2023.The characteristics of the HPI composite benchmark is a home between the age of 51 to 99 with threebedrooms and two bathrooms. A full list can be found in the accompanying chart.

April Market Outlook

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Fueled by a genuine passion for the real estate realm, I take immense pride in orchestrating over $25 million in sales volume throughout my illustrious career. My unwavering commitment to excellence has garnered prestigious accolades, including the esteemed 100% Club Award for 2023, a testament to my dedication and unparalleled service. As an esteemed member of Re/Max Escarpment & Niagara, the leading brokerage in our province, I am steadfastly committed to delivering unmatched expertise and service to my esteemed clientele.

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