All statistics courtesy of the Niagara Association of Realtors and Mortgage Architects
Spring has arrived in Niagara — and the real estate market is feeling it. March 2026 data from the Niagara Association of REALTORS® (NAR) shows a significant jump in both listings and sales compared to February, confirming that buyer and seller activity is picking up meaningfully heading into the busiest season of the year.
Here is what the numbers tell us, what they mean for your mortgage decisions, and why the current moment is one worth paying attention to.
The MLS® Home Price Index (HPI) benchmark composite for the Niagara Region was $580,800 in March 2026 — down 6.2% compared to March 2025, and slightly up from February’s $571,800. That modest month-over-month uptick is a signal worth noting: after months of softening, prices appear to be finding a floor.
The March 2026 benchmarks by community (NAR data) give a clear picture of where the market stands across the region:
| Community | March 2026 HPI Benchmark |
| St. Catharines | $521,600 |
| Welland | $514,000 |
| Niagara Falls | $580,300 |
| Grimsby | $678,000 |
| Niagara-on-the-Lake | $861,900 |
| Thorold | $588,000 |
| Fort Erie | $504,000 |
| Port Colborne / Wainfleet | $483,400 |
| Pelham | $779,600 |
| Lincoln | $679,400 |
The spread across these communities underscores an important reality: the Niagara market is not a single number. What you qualify for and where you choose to buy are two entirely different conversations — which is exactly what a pre-approval discussion with your Niagara mortgage agent should address first.
One of the most telling data points from March is the month-over-month activity surge. Residential sales jumped 19.2% from February to March, hitting 460 units — while new listings climbed 43.1% over the same period, bringing 1,345 fresh properties to market.
NAR Chair Johnny MacDonald put it plainly: “The Niagara real estate market is showing clear signs of a spring awakening, characterized by a significant surge in both inventory and buyer engagement.”
Active listings sat at 2,782 at the end of March — down 9.8% year-over-year as more inventory gets absorbed — with months of inventory at 5.9. That is right at the edge of buyer’s market territory (typically defined as 6+ months), meaning conditions still favour buyers, but the balance is shifting.
Homes are selling in an average of 48 days — a 4% improvement over last year, and a significant drop from February’s 53-day average. Well-priced properties are moving.
One headline from the spring that every buyer of new construction should know about: Ontario’s 2026 Budget introduced the removal of the full 13% HST on eligible new homes priced up to $1 million. That translates to up to $130,000 in direct savings for qualifying buyers — a meaningful shift in affordability for anyone considering a new build or pre-construction purchase in the Niagara Region.
If you are considering a new home purchase, this is worth a direct conversation with your mortgage agent before you run the numbers on what you can afford.
The Bank of Canada held its overnight rate at 2.25% on March 12, 2026 — the third consecutive hold following nine rate cuts between June 2024 and October 2025. The prime rate remains at 4.45%, and competitive 5-year fixed insured mortgage rates continue to hover near 3.94%.
The rate environment is stable. There are no signs of imminent movement in either direction. What that means in practical terms: the current window of predictable, relatively low borrowing costs is a known quantity — and spring competition is only beginning to build.
The March data reinforces what has been true all year: prepared buyers with financing in place are well-positioned. Here is the summary picture heading into spring:
When you’re ready to chat about your options, give us a call.
