Is Niagara, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Niagara was a Seller's Market.
Key Takeaway
Niagara is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Niagara, NY
How much do homes in Niagara, NY cost?
Median Sold Price
$190,000
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Niagara have sold for 5% less than they did a year ago.
Summary: The median home sold price in Niagara was $190,000 in May 2024, down 5% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $110K | $240K | +118.2% |
| 3 Bedrooms | $200K | $163K | -18.5% |
| 4 Bedrooms | $258.5K | $210K | -18.8% |
| 5+ Bedrooms | $304K | $285K | -6.3% |
Summary: Niagara housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 118.2%, 3 bedroom homes decreased by 18.5%, 4 bedroom homes decreased by 18.8%, and 5+ bedroom homes decreased by 6.3%.
Median Sold Price Compared To Nearby Cities
| Wheatfield | $303.5K | $361K | +18.9% |
| Niagara Falls | $135K | $142K | +5.2% |
| Sanborn | $285K | $295K | +3.5% |
| Niagara | $199.9K | $190K | -5.0% |
Housing Supply in Niagara, NY
How many homes are available in Niagara, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 14 | -6.7% |
Summary: The Niagara real estate market had 14 homes for sale in May 2024, a 6.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 9 | 9 | 0.0% |
| 4 Bedrooms | 3 | 1 | -66.7% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Niagara housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Niagara, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in Niagara in May 2024, down by 60.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Niagara, NY
How long does it take to sell a home in Niagara, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 7 Days | 13 Days | +92.9% |
Summary: Homes in Niagara had an average of 13 days on market in May 2024, up by 92.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Niagara are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Niagara; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
