August 2026 MLS data | Bank of Canada holds at 2.25%
Read last month’s Market Update here.
Source: Niagara Association of REALTORS®, August 2026 Market Release & Stats
Niagara’s benchmark home price held steady in August at $569,800, down just 0.4% from July, even as sales and new listings dropped sharply after the summer floods. The Bank of Canada held its rate at 2.25% on September 2, but fixed mortgage rates have been creeping up with bond yields. If you’re buying, renewing or recovering from flood damage this fall, here’s what the numbers mean for you.
August was a hard month for a lot of families in our region, and it shows up in the data. Fewer people listed their homes, fewer homes sold, and prices barely moved. Let’s look at how August compares with a year ago.
| METRIC | AUGUST 2026 | AUGUST 2025 | YR/YR | VS. JULY |
|---|---|---|---|---|
| HPI Benchmark Price | $569,800 | $607,700 | Down 6.2% | Down 0.4% from $572,200 |
| Total Sales | 498 | 545 | Down 8.6% | Down 17.0%* |
| New Listings | 1,152 | 1,415 | Down 18.6% | Down 22.5%* |
| Avg. Days on Market | 45 days | 48 days | Down 6.3% | Up from 42 in July |
| Sales-to-New-Listings | 43.2% | 38.5% | Up 4.7 points | Up from 40% in July |
Source: Niagara Association of REALTORS®, August 2026 Market Release & Stats. Residential Freehold and Condo/Other only (excludes multifamily, land and farm). Sales-to-new-listings ratios are calculated from published sales and new listings. *NAR revised its July figures in the August report, so month-over-month changes are measured against revised July totals. That is why they differ slightly from the 596 sales and 1,488 new listings in our August update.
The headline this month is how little the price moved. Since April, the Home Price Index (HPI) composite benchmark has stayed inside a $5,500 band, about 1%. August came in at the low end of that range, but only by a few thousand dollars.
| MONTH | HPI COMPOSITE BENCHMARK |
|---|---|
| April 2026 | $573,700 |
| May 2026 | $575,300 |
| June 2026 | $571,300 |
| July 2026 | $572,200 |
| August 2026 | $569,800 |
Benchmarks as published in each month’s NAR Market Release & Stats.
If you’re new to these numbers, the benchmark tracks the price of a “typical” home rather than the raw average of whatever happened to sell that month. A few luxury sales can’t push it around, which makes it the best single read on where Niagara prices actually sit.
Year over year, prices are still down 6.2%. But we are measuring against a market that was already falling in 2025. Month to month, prices have been flat since spring.
A series of intense storms between July 21 and August 2 flooded thousands of homes in St. Catharines, Lincoln and Niagara-on-the-Lake. Both St. Catharines and Lincoln declared states of emergency on August 3.
Johnny MacDonald, Chair of the Niagara Association of REALTORS®, tied August’s slowdown directly to the storms, saying many sellers “had to delay their plans and push back listing their homes.” You can see it in the numbers: new listings fell 22.5% from July and sales fell 17.0%.
That also explains the jump in the sales-to-new-listings ratio, from 40% in July to 43.2% in August. On paper, that moves Niagara into the 40% to 60% range usually read as a balanced market. In reality, it happened because fewer homes came up for sale, not because more buyers showed up. NAR itself cautioned that August’s figures are likely skewed by the lower volume of new listings.
What I’ll be watching this fall is whether those delayed listings come back once repairs are done. If they do, buyers will get more choice again.
Here’s how August broke down across the region.
| COMMUNITY | SALES AUG 2026 | SALES AUG 2025 | BENCHMARK AUG 2026 | SALES-TO-LISTINGS |
|---|---|---|---|---|
| Fort Erie | 55 | 43 | $494,300 | 42% |
| Grimsby | 36 | 38 | $673,100 | 51% |
| Lincoln | 31 | 23 | Not published | 57% |
| Niagara Falls | 111 | 107 | Not published | 51% |
| Niagara-on-the-Lake | 30 | 21 | $859,200 | 34% |
| Pelham | 16 | 24 | $744,300 | 42% |
| Port Colborne / Wainfleet | 24 | 34 | $473,500 | Not published |
| St. Catharines | 116 | 148 | $524,500 | 46% |
| Thorold | 23 | 30 | Not published | 31% |
| Welland | 45 | 71 | $488,800 | 34% |
| West Lincoln | 11 | 6 | Not published | 48% |
| Niagara Totals | 498 | 545 | $569,800 | 43.2% |
Sources: Niagara Association of REALTORS®, August 2026 report, as transcribed by Davids & DeLaat and REMAX Hendriks Team Realty. Community sales sum exactly to the regional totals for both years. Benchmark and sales-to-listings figures appear only where a published source reports them; Fort Erie’s ratio is calculated from its published sales and new listings. Cells marked “Not published” are not estimates or omissions on our part. We do not publish figures we cannot verify, so confirm any specific community number with your REALTOR®.
St. Catharines felt the floods the most. Sales fell 21.6% from August 2025, compared with 8.6% across the region, and the benchmark eased 0.8% from July to $524,500. Homes took 41 days to sell on average, up from 39 in July. The city’s 46% ratio still sits in balanced territory, but that is because sellers stepped back just as much as buyers did.
Niagara Falls was the only community to record more sales in August than in July, with 111. Lincoln posted the region’s highest ratio at 57%, on 31 sales against 54 new listings.
Niagara-on-the-Lake went the other way. New listings rose from 79 in July to 88, the benchmark slipped 1.3% to $859,200, and homes took an average of 70 days to sell. At 34%, NOTL is back in buyer’s market territory and still holds the region’s highest benchmark.
A reminder about small markets: West Lincoln dropped from 76% in July to 48% in August, and Pelham moved from 31% to 42%. With only 11 and 16 sales, a handful of transactions can swing those numbers. Treat one month as a data point, not a trend.
CREA’s regional figures for August, which include active listings and months of inventory, had not been released at the time of writing. The most recent available, for July, showed 3,354 active listings (down 13.1% from July 2025) and 5.5 months of inventory, down from 5.9 a year earlier but still above the long-run average of 4.1 for that time of year.
July active listings and months of inventory: CREA Statistics, Niagara Association of REALTORS®, July 2026 release.
| RATE | LEVEL | NOTES |
|---|---|---|
| Bank of Canada overnight rate | 2.25% | Held September 2, 2026 |
| Prime rate (major lenders) | 4.45% | Unchanged |
| Consecutive holds | 7 | Since the October 29, 2025 cut |
| Next decision | October 28, 2026 | With a new Monetary Policy Report |
Sources: Bank of Canada, September 2, 2026 press release; lender prime rate as reported by Ratehub.ca.
The Bank of Canada held its rate at 2.25% on September 2, its seventh hold in a row. Prime stays at 4.45%, so if you have a variable-rate mortgage or a line of credit, your payment didn’t change.
Fixed rates are a different story. They are priced off Government of Canada bond yields, not the Bank’s overnight rate. In its September statement, the Bank noted that financial conditions have tightened since July and that long-term bond yields have moved up globally, including in Canada. Several lenders raised their fixed rates in late August as a result.
The Bank also flagged that inflation has been hovering around 3%, mostly because of gasoline prices, and that the risks to its inflation forecast have increased with the Middle East conflict and new US tariffs. Core inflation is still close to 2%. In plain language: the Bank isn’t in a hurry to move in either direction, and fixed rates will keep following the bond market in the meantime.
If your home took on water this summer, you’re not alone. Here’s where recovery stands and how it connects to your mortgage.
St. Catharines and Lincoln ended their states of emergency in early September, but both municipalities say residents are still working through insurance claims, cleanup and repairs. Niagara Falls also set up a Flood Recovery Program for properties affected by the August 2 flooding.
Both municipalities have asked the province to activate the Disaster Recovery Assistance for Ontarians (DRAO) program. Lincoln made its formal request on August 27. At the time of writing, the province had not announced an activation for Niagara.
If DRAO is activated, here’s what to know:
Start with your insurance claim so you know what’s covered. If the payout falls short, there may be options through your mortgage, such as a refinance or a home equity line of credit. The right one depends on your equity, your current term and whether breaking it early would trigger a penalty.
One caution: local officials have warned about scammers following the storms. Don’t sign a contractor’s financing offer on the spot. Talk to us first. It costs you nothing, and we can compare it with what your mortgage can do.
Flooded homes can absolutely be financed, but a little extra homework goes a long way. Ask the seller whether the basement has ever taken on water and what repairs were done. Get a quote for home insurance, including sewer backup coverage, before your conditions come off. Your lender will need proof of insurance before your mortgage funds, and the appraisal will reflect the home’s condition, so unrepaired damage can affect both value and approval.
If you’re looking at a new build, Ontario’s enhanced HST relief still applies to agreements signed between April 1, 2026 and March 31, 2027, with combined relief of up to $130,000 on qualifying homes. The CRA has said processing of Ontario enhanced rebate applications begins after its system changes are implemented this fall, so ask your builder and lawyer how they are handling the rebate on your closing. We covered the details in last month’s update.
Prices have been flat for five months, so you’re not chasing a moving target. The catch is choice: new listings are down 18.6% from last year and 22.5% from July. Get pre-approved now so you can move when the right home shows up, and add one question to every showing this fall: has this basement ever flooded?
When you’re ready, you can always schedule a conversation to talk through what fits your budget.
Variable rates are steady with prime at 4.45%. Fixed rates have been drifting up with bond yields. If your renewal is within 120 days, now is the time to lock in a rate hold. It protects you if rates keep climbing, and you can still take a lower rate if one comes along.
Reach out to us and we’ll secure a rate hold while we shop around for the best deal, at no cost to you.
Get your insurance claim moving, keep every receipt, and call us before you commit to any financing. A 15-minute conversation can tell you whether a refinance, a line of credit or simply waiting on your claim makes the most sense.
You’re facing less competition, with far fewer new listings than last year. But homes are taking about six and a half weeks to sell across the region, and closer to ten weeks in Niagara-on-the-Lake. Price to today’s benchmark, not to last spring’s comparables. If your home was flooded and repaired, have your invoices and insurance records ready. Buyers, their lenders and their insurers will ask.
What is the average home price in Niagara right now?
The MLS® HPI composite benchmark for the Niagara Region was $569,800 in August 2026, according to the Niagara Association of REALTORS®. That is down 6.2% from August 2025 and down 0.4% from July. The benchmark has stayed between $569,800 and $575,300 every month since April.
Did the summer flooding affect Niagara’s housing market?
Yes. NAR’s chair said many sellers had to delay listing their homes after the storms. New listings fell 22.5% from July and sales fell 17.0%. St. Catharines, one of the hardest-hit areas, saw sales drop 21.6% from August 2025, compared with 8.6% across the whole region.
Is Niagara a buyer’s market or a seller’s market in September 2026?
Niagara’s sales-to-new-listings ratio was 43.2% in August, which falls in the range usually read as balanced. That is mostly because fewer homes were listed, not because more buyers showed up. It varies widely by community, from 57% in Lincoln to 31% in Thorold.
What did the Bank of Canada do in September 2026?
The Bank of Canada held its overnight rate at 2.25% on September 2, 2026, its seventh consecutive hold. Prime stays at 4.45%, so variable-rate payments are unchanged. Fixed rates follow bond yields instead, and several lenders raised fixed rates in late August. The next decision is October 28, 2026.
Can I get a mortgage on a home that was flooded?
Usually, yes. Your lender will need proof of home insurance before your mortgage funds, and the appraisal will reflect the home’s condition, so unrepaired damage can affect value and approval. Ask about the home’s water history, get an insurance quote with sewer backup coverage before your conditions come off, and talk to your mortgage agent early.
Will the province help pay for flood damage in Niagara?
St. Catharines and Lincoln have asked Ontario to activate the Disaster Recovery Assistance for Ontarians (DRAO) program. At the time of writing, no activation had been announced for Niagara. If it is activated, DRAO can pay up to $250,000 for emergency expenses and essential repairs, but it is not a replacement for insurance.
