Housing market cooling in Niagara

It looks like things are starting to cool off for the housing market in Niagara.

According to a report from The Niagara Association of Realtors, sales decreased about 26% since April of last year.

Homes are also spending more time on the market than they were a year ago; the association notes an increase of 84% from 19 average days to 35. Fort Erie saw the biggest change with properties spending an average of 61 days on the market this year compared to 26 in 2017.

Although the number of listings remained fairly stable, the amount of sales decreased from 748 last April to 578 this year.

Right now, the average residential sale price sits around $417,121.

Image courtesy Niagara Association of Realtors