Niagara Association of REALTORS Reports Balanced Market with Composite Benchmark Price at $572,200 for July 2026

Niagara Association of REALTORS — July 2026

In July 2026, the Niagara Association of REALTORS® reports a composite benchmark price of $572,200, reflecting a 5.5% decrease from the previous year. Total sales reached 609 units, marking a 7.4% decline compared to July 2025, while new listings totaled 1,530.

Market Analysis

The Niagara real estate market is currently in a balanced condition, with a months of inventory (MOI) at 5.5, slightly up from 5.2 in June 2026. This indicates that while sales have decreased, the supply of homes remains historically elevated, providing buyers with a variety of options. The total sales of 609 units in July 2026 are 7.9% above the five-year average but 9.4% below the 10-year average for the month, suggesting a cooling trend in buyer activity compared to previous years. Year-to-date sales also reflect a modest decline of 2.5% from the same period in 2025, indicating a gradual adjustment in the market dynamics.

Property Type Analysis

The benchmark prices for different property types show varying trends. The benchmark price for detached homes stands at $597,200, while attached/townhouses are priced at $526,500, and apartments at $333,500. Notably, the apartment market has experienced a sharp decline of 15.5% year-over-year, indicating a significant shift in demand dynamics within this segment. In contrast, the decrease in benchmark prices for detached and attached homes is more moderate, suggesting that these property types may still retain a degree of buyer interest despite overall market adjustments.

Regional Highlights

In regional developments, the federal government has allocated $183 million to St. Catharines for a co-operative housing project, which will add 492 units to the local housing supply. This investment is expected to enhance affordability and availability in the Niagara Region, addressing some of the supply challenges faced by buyers. Additionally, active listings at the end of July numbered 3,354, a decrease of 13.1% from the previous year, indicating a tightening of supply as new listings have also declined.

For Buyers

For prospective buyers, the current market presents an opportunity to negotiate as inventory levels remain elevated. With the months of inventory at 5.5, buyers can take their time to evaluate options and potentially secure favorable terms. It's advisable to work with a REALTOR® to navigate the market effectively and identify properties that meet individual needs.

For Sellers

Sellers should be mindful of the current market conditions, as the decrease in sales and new listings suggests a more competitive environment. Pricing homes competitively is crucial, especially given the 5.5% year-over-year decline in benchmark prices. Collaborating with a knowledgeable REALTOR® can help sellers position their properties effectively to attract buyers in this balanced market.