The Niagara real estate market is continuing to feel the impact of the trade conflict with the United States, according to the Niagara Association of Realtors.
Its monthly report, which was released earlier this month, shows that home sales fell dramatically in April compared to April 2024.
Just 539 homes were sold in Niagara Region in April 2025, which is down 34.5 per cent from a year prior.
“Similar to many other markets in and around the Greater Golden Horseshoe, sales activity in our region posted the lowest April reading since the pandemic in 2020,” said Chair Lisa Taylor.
“New listings are also on a downward trend as some sellers have decided to pull out of the market and await an eventual rebound in consumer confidence,” she continued.
“However, due to a more protracted decline in sales, the market balance is now resting in buyer’s territory while inventories continue to accumulate.”
Despite falling sales, the benchmark price for a home in Niagara Region was only down slightly. The benchmark price in April 2025 was $642,500, which is down 2.9 per cent from a year ago.
The present environment of uncertainty has also impacted the number of homes on the market. The number of new listings last month was down 20.1 per cent from April 2024.
Overall, there were 1,546 new residential listings in April 2025. According to the report, that’s the lowest number of new homes added to the market in the month of April in five years.
New listings for April 2025 were 13.7 per cent below the five-year average.
Total active residential listings in April were 3,455 units, up 4.8 per cent from April 2024. Given that fewer listings were added to the market in April compared to recent years, the high number of listings suggests it is taking longer for folks in Niagara Region to sell their homes.
Active listings were 40.4 per cent above the five-year average in April, pointing to that exact problem.
There are now 6.4 months of inventory sitting on the market, which is up from four months in April 2024 and above the long-run average of 3.2 months for this time of year.
The number of months in inventory is, according to the report, “the number of months it would take to sell current inventories at the current rate of sales activity.”
With trade uncertainty unlikely to clear up in the short term, the expectation is for the market to remain soft for the foreseeable future.
Jay Goldberg is the Canadian Affairs Manager at the Consumer Choice Center. He previously served as the Ontario Director at the Canadian Taxpayers Federation and a policy fellow at the Munk School of Public Policy and Global Affairs. Jay holds a Ph.D. in Political Science from the University of Toronto.
