Is Niagara Falls, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Niagara Falls was a Neutral Market.
Key Takeaway
Niagara Falls is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Niagara Falls, NY
How much do homes in Niagara Falls, NY cost?
Median Sold Price
$139,985
$112/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Niagara Falls have sold for 1.2% more than they did a year ago.
Summary: The median home sold price in Niagara Falls was $139,985 in March 2024, up 1.2% from last year, and the median price per square foot was $112.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $97.4K | $143.2K | +47.0% |
| 2 Bedrooms | $115K | $109.9K | -4.4% |
| 3 Bedrooms | $144.7K | $154K | +6.4% |
| 4 Bedrooms | $156.9K | $134.7K | -14.1% |
| 5+ Bedrooms | $237.5K | $119.9K | -49.5% |
Summary: Niagara Falls housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47%, 2 bedroom homes decreased by 4.4%, 3 bedroom homes increased by 6.4%, 4 bedroom homes decreased by 14.1%, and 5+ bedroom homes decreased by 49.5%.
Median Sold Price Compared To Nearby Cities
| Niagara | $188.8K | $205K | +8.6% |
| Grand Island | $319.9K | $344.7K | +7.8% |
| Wheatfield | $325.7K | $350K | +7.4% |
| Niagara Falls | $138.3K | $139.9K | +1.2% |
Housing Supply in Niagara Falls, NY
How many homes are available in Niagara Falls, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 240 | 219 | -8.8% |
Summary: The Niagara Falls real estate market had 219 homes for sale in March 2024, a 8.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 19 | 20 | +5.3% |
| 3 Bedrooms | 109 | 85 | -22.0% |
| 4 Bedrooms | 67 | 69 | +3.0% |
| 5+ Bedrooms | 42 | 43 | +2.4% |
Summary: The Niagara Falls housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 5.3%, 3 bedroom homes decreased by 22%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 2.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 36 | 47 | +30.6% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Niagara Falls, you may be able to get a good deal. 57.4% of homes here sold below asking price last month.
Summary: A total of 47 homes were sold or pending in Niagara Falls in March 2024, up by 30.6% month-over-month. Of the 47 sold homes, 57% were sold under asking, 4% were sold at asking, and 38% were sold over asking.
Days on Market for Niagara Falls, NY
How long does it take to sell a home in Niagara Falls, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 41 Days | 27 Days | -35.0% |
Summary: Homes in Niagara Falls had an average of 27 days on market in Mar 2024, down by 35% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Niagara Falls are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 47 homes were sold in Niagara Falls; 66% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.