Is Niagara Falls, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$140,000
$111/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Niagara Falls have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in Niagara Falls was $140,000 in April 2024, up 1.6% from last year, and the median price per square foot was $111.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $97K | $143.2K | +47.7% |
| 2 Bedrooms | $115K | $109.9K | -4.4% |
| 3 Bedrooms | $143K | $155K | +8.4% |
| 4 Bedrooms | $158.7K | $133.5K | -15.9% |
| 5+ Bedrooms | $225K | $115.2K | -48.8% |
Summary: Niagara Falls housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.7%, 2 bedroom homes decreased by 4.4%, 3 bedroom homes increased by 8.4%, 4 bedroom homes decreased by 15.9%, and 5+ bedroom homes decreased by 48.8%.
Median Sold Price Compared To Nearby Cities
| Niagara | $184.4K | $215K | +16.6% |
| Grand Island | $317K | $350K | +10.4% |
| Wheatfield | $320K | $353K | +10.3% |
| Niagara Falls | $137.8K | $140K | +1.6% |
Housing Supply in Niagara Falls, NY
How many homes are available in Niagara Falls, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 242 | 217 | -10.3% |
Summary: The Niagara Falls real estate market had 217 homes for sale in April 2024, a 10.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 24 | 18 | -25.0% |
| 3 Bedrooms | 98 | 89 | -9.2% |
| 4 Bedrooms | 71 | 66 | -7.0% |
| 5+ Bedrooms | 47 | 42 | -10.6% |
Summary: The Niagara Falls housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 9.2%, 4 bedroom homes decreased by 7%, and 5+ bedroom homes decreased by 10.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 53 | 45 | -15.1% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
5 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. 48.9% of homes here sold below asking price last month.
Summary: A total of 45 homes were sold or pending in Niagara Falls in April 2024, down by 15.1% month-over-month. Of the 45 sold homes, 49% were sold under asking, 11% were sold at asking, and 40% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 38 Days | 28 Days | -26.9% |
Summary: Homes in Niagara Falls had an average of 28 days on market in Apr 2024, down by 26.9% compared to last year.
Breakdown of Home Sale Times
29 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 April 2024, 45 homes were sold in Niagara Falls; 64% of homes were sold within 30 days, 31% 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.