The Niagara Real Estate Market Report
The Niagara Real Estate Market Report Year over Year - February 2023 vs February 2022
As forecasted, the Niagara Region has begun to spring back as month over month sales are up, the number of listings is up and the average days on market has decreased slightly. We can see as well that home values are holding steady at roughly the same as it was in January 2023. Looking back year over year, we will continue to see larger differences in these numbers as the market did not begin to level out until late in the second quarter of 2022.
New listings in the Niagara Region were 817 in February 2023 vs 864 in February 2022, which is a decrease of 5.4% 
Residential home sales in Niagara totaled 449 homes in February 2023 compared to 630 in February 2022, which is a decrease of 28.7%
The average HPI composite benchmark* price was $627,500 in February 2023, compared to $808,100 in February 2022, which is a decrease of 22.3%
The Niagara Real Estate Market Report Month to Month, February 2023 vs January 2023.
New listings in the Niagara Region were 817 in February 2023 vs 771 in January 2023, which is a increase of 5.97% 
Residential home sales totaled 449 in February 2023 compared to 302 in January 2023, which is a increase of 48.68%
The average HPI composite benchmark* price was $627,500 In February 2023, compared to $629,100 in January 2023, which is an decrease of 0.25.️️
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.
905-321-6165 - www.tracyphelan.com