447 Homes for Sale in Niagara Falls - Niagara Falls Real Estate (2023)

FAQs

Will housing prices drop in Niagara region? ›

According to the Niagara Association of Realtors (NAR), both sales and prices are down year-over-year but up month-over-month. Last month, the overall home price index (HPI) for the region was $641,600–down 21.8 per cent from March 2022.

Local market conditions: The housing market in Niagara Falls is not as competitive as in other areas, which also contributes to lower prices. Additionally, there may be a larger supply of houses.

So, it should not be a surprise that the Niagara Falls real estate market is also known for being one of the most beautiful places to invest in real estate in the entire country is also a great place to invest if you want to increase your chances of experiencing a meaningful return on your investment.

The overall HPI composite benchmark price for the Niagara region was $641,600 in March. This was a decrease of 21.8 per cent compared to March 2022. The characteristics of the HPI composite benchmark is a home between the age of 51 to 99 years old with three bedrooms and two bathrooms.

The average price of homes sold in April 2023 was $728,568, a sharp decrease of 14.3% from April 2022. The more comprehensive year-to-date average price was $692,778, down sharply by 19.4% from the first four months of 2022.

The RE/MAX 2022 Canadian Housing Market Outlook projects the average residential home price in Niagara will rise 14 per cent, compared to 9.2 per cent across Canada.

Living in St. Catherines is truly living in the best of both worlds. Better known as “The Garden City”, this is the largest city located in the Niagara Region with a population of approximately 140,000.

Despite the decline in heavy industry, Niagara Falls State Park and the downtown area closest to the falls continue to thrive as a result of tourism. The population, however, has continued to decline from a peak of 102,394 in the 1960s due to the loss of manufacturing jobs in the area.

The falls could be replaced by a series of rapids. 50,000 years from now, at the present rate of erosion, the remaining 20 miles to Lake Erie will have been undermined. There won't be a falls anymore, but there will still be a river at work.

Which side is better Niagara Falls? ›

Which side of Niagara Falls is better? The Canadian Side: There is no doubt that the view is better on the Canadian side. This is where you can get the iconic view of the Horseshoe Falls, as well as the best view of the American Falls from across the river.

Scientists estimate the world's second largest waterfall will disappear into Lake Erie 23,000 years from now.

The updated Housing and Homelessness Action Plan provides a strategy for addressing the issues of affordable housing and homelessness in Niagara from 2019 to 2023. It coordinates efforts to increase access to affordable housing, reduce homelessness, and end chronic homelessness in Niagara.

The Housing Strategy is set out in 21 theme-based actions that includes new policy directions, programs and tools that will work together in the short, medium, and long term to help achieve the City's 40% affordability target for all new built housing.

Niagara Region is anticipated to grow to a population of 694,000 people and 272,000 jobs by the year 2051. The 2022 Niagara Official Plan is a long-range land use planning document that sets out what we protect while managing where and how the region will accommodate this growth.

Niagara Falls's housing expenses are 17% lower than the national average and the utility prices are 4% lower than the national average. Transportation expenses like bus fares and gas prices are 0% higher than the national average. Niagara Falls has grocery prices that are 3% lower than the national average.

With ease of accessibility, comprehensive facilities and services at hand, and bounding opportunities, Niagara Falls affords residents the perfect blend of city life, vacation atmosphere, and small town feel. With all it has to offer, living in Niagara Falls just makes perfect sense.

The 2022 fixed monthly charge will be $42.71, compared to $40.35 in 2021 — $2.36 higher. Leavens said the average Niagara Falls residential user pays less annually for water and wastewater than most Niagara municipalities.

Desjardins Forecasts a 25% Decline in Home Prices in 2023

According to a recent report by Desjardins, the Canadian housing market is expected to experience a sharp correction in 2023. Home prices are predicted to drop by 20% in Quebec and 25% in Ontario compared to their pre-pandemic levels.

As a result, we expect a price decline between 2022 and 2023, but the average price will not revert to pre-pandemic levels. However, we expect this decline to bottom out sometime in 2023. We anticipate growth in prices, sales and starts for the 2023 – 24 and 2024 – 25 periods.

What is the new highrise in Niagara Falls? ›

Niagara Falls has approved a new towering condo building set to be the tallest in Canada at 77 stories. The building, dubbed Niagara 77, is a proposed mixed-use development featuring condos, townhomes, and retail outlets.

Clifton Hill is one of the most famous streets in Niagara Falls. Clifton Hill is located just steps away from the mighty Niagara Falls. Known as the " Street of Fun” because of the many exciting attractions, themed restaurants and affordable hotels to stay at all in one area, everything is within walking distance!

Niagara Falls by day is a breathtaking wonder, but by night it is spectacular. Niagara Falls at night is well-known for the illumination on the falls with coloured lights coming from the Illumination Tower, located on the roof of the Table Rock Centre.

In the following 122 years, thousands of people have been swept over the falls but only sixteen people have reportedly survived the feat. All instances of people having survived the trip over the falls have been over the Canadian Horseshoe Falls.

Statistics Canada 2021 data (Table: 35-10-0026-01) shows Niagara's crime severity index score of 62.12 is higher than Ontario's crime severity index score of 56.21 and below the national index score of 73.68.

Toronto and Hamilton are two Canadian cities closest to Niagara Falls. Hamilton is nearer to Niagara Falls at a distance of 64 km while Toronto is a bit farther off at 67 km. If you are planning a trip to Niagara Falls, the first thing you have to decide on is the mode of travel.

In truth, the Falls have stopped twice in history; once of natural causes, and the other for maintenance work on the rocky shoal. Aside from those two examples, the waterfalls never stop flowing, roaring through the area and soaking visitors down below on the iconic Niagara Falls boat tours.

The majesty that is Niagara Falls has had its, well, less majestic moments over the past two centuries. In fact, twice the falls have dried up completely – once stopped by nature and the second time 120 years later, it was stopped by man.

Yes. A Passport (or a Passport Card or Enhanced Driver's License if coming by land) is required for crossing the border into Canada unless you are age 15 or younger. Please visit the government website for any further details.

Is Niagara Falls still a wonder of the world? ›

Nearly 12 million visitors visit Niagara Falls every year – most of them naively assuming that they are visiting a wonder of the world! To their [and your] surprise, Niagara Falls is NOT a wonder of the world, though many feel that it should be [and for the right reasons].

According to The New York Times in 1969, that was how a tourist characterized the historic moment that the Niagara River was released to gush down over the American Falls once again after it had been cut off for six months.

While there is no 'official' seven wonders of the world list, Niagara Falls is commonly listed amongst various lists as a seventh wonder, as a candidate for the 'natural wonders of the world', or as an honorary 8^th wonder of the world.

From Niagara Falls USA, visitors can cross the Rainbow Bridge, connecting Downtown Niagara Falls, N.Y. to Niagara Falls, Ontario. Pedestrians are permitted on the pedestrian walkway.

Yes. US currency is accepted at all most local attractions, restaurants and shops. Please visit the Currency & Exchange Rate page to learn further details on using your American money and the Canadian Dollar.

There is a certain amount of walking involved, and it's hard to judge without knowing your relative. There is low-cost trolley service throughout Niagara Falls State Park, connecting all the major attractions. As far as Maid of the Mist, the walk to the elevator and dock is not particularly long.

The formation of Niagara Falls was a slow process that still continues today. The annual freezing and thawing of the Niagara River wears away at the rocks under the surface and gradual erosion and periodic rockfalls steadily move Niagara Falls farther upstream.

There's no doubt that the Niagara Falls are one of the great natural wonders of the world – tourism boards and the general public alike have even been pushing to have the Falls officially named the Eighth Wonder of the World.

Today, more than 8 million visitors go to Niagara Falls State Park each year. Niagara Falls' natural beauty is preserved by the Niagara Falls Association, which was founded in 1883 and acquired private land around the area to keep the natural environment intact.

About 2,155 individuals stayed at Niagara homeless shelters last year — 100 more than the previous year — while the “by-name list” of clients experiencing homelessness increased to 1,099, up from 1,042 a year earlier, according to a report presented at last week's public health and social services committee meeting.

What is the new homeless shelter in Niagara Falls? ›

A new housing facility for the homeless in Niagara Falls is being called a 'game-changer' for the community. The Bridge Housing facility, which is now officially open, includes the redevelopment of the historical Niagara Falls library into 25 beds to support the region's homeless secure permanent housing.

Visit Niagara Parks' Oldest Property Grounds McFarland House. For more than two centuries McFarland House has stood as a monument to the impeccable manners, good taste and gracious living that epitomizes Niagara-on-the-Lake.

Niagara Falls has been ranked the fourth best small city in Canada to live, work and invest, according to a comprehensive city ranking website.

Did you know that Thorold is the fastest-growing municipality in the Niagara Region and the 4th fastest growing city in Ontario? Check out the 2022 City of Thorold Community Profile to learn more.

In 1961, when the Niagara Falls hydroelectric project went online, it was the largest hydropower facility in the Western world. Today, Niagara is still the largest electricity producer in New York state, with a generating capacity of 2.4 GW.

Niagara has already experienced the impacts of climate change and projections show that we can expect: Increased temperatures. Higher precipitation. More extreme weather events.

Rising interest rates (making mortgage payments more expensive) Economic recession / high unemployment (reducing demand and causing home repossessions).

Ontario Housing Prices Are Expected To Drop In 2023 & These 5 Towns Could Get A Lot Cheaper. Prices in one spot could drop as much as 50 percent. Downtown rural street of small town Canadian city. Ontario's housing market is projected to continue to seeing the biggest correction of all the Canadian provinces.

Bancroft is expected to see the steepest decline in home prices by the end of the year, with a projected 50 per cent drop. That's followed by Northumberland Hills (-42 per cent), Woodstock-Ingersoll (-40 per cent), Grey Bruce Owen Sound (-39 per cent) and Muskoka & Haliburton (-39 per cent).

With ease of accessibility, comprehensive facilities and services at hand, and bounding opportunities, Niagara Falls affords residents the perfect blend of city life, vacation atmosphere, and small town feel. With all it has to offer, living in Niagara Falls just makes perfect sense.

What are the chances of the housing market crashing? ›

While a housing price correction is expected, we aren't in a housing bubble. Demand for homes remains high, and there are fewer home sellers than there were in 2022. And while the market is cooling, experts don't expect an actual housing crash or a housing bubble burst in 2023.

In general, interest rates are likely to rise if the housing market crashes. This is because when the housing market goes down, it's often a sign that the overall economy is doing poorly too. And when the economy does poorly, investors typically look for safer investments like government bonds and mortgages.

Home prices generally fall during recessions, with home values slipping in four out of the five major recessions between 1980 and 2008.

“By the end of 2023, financial market participants expect that the Fed will have increased the target Fed funds rate by 175 to 200 basis points from current levels,” Johnson says. “That would translate into 30-year and 15-year mortgage rates at roughly 8.50 and 7.70 percent.” Some experts are more hopeful, though.

These organizations predict that mortgage rates will decline through the first quarter of 2024. Fannie Mae, Mortgage Bankers Association and National Association of Realtors expect mortgage rates to drop through the first quarter of 2024, by half a percentage point to about nine-tenths of a percentage point.

The Canadian Real Estate Association expects the average price of a home to end the year 4.8 per cent lower than 2022, but says prices will rise by roughly the same amount in 2024.

Canadian home prices will continue to decline until the middle of 2023 before they bottom out and start rising again through 2025, according to the Canada Mortgage and Housing Corporation's latest housing market outlook.

The housing market is at an all-time low in Canada with only 3.9 months of inventory on a national basis at the end of March 2023. One of the key reasons for low housing inventory levels in Canada is the limited supply of new constructions. If you're a buyer, there are still great opportunities to make.