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Niagara Falls

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Niagara Falls is a lively and gorgeous region nestled within Southern Ontario's Golden Horseshoe. Niagara is a mesmerizing tourist magnetizer blessed with glorious natural spots and home to amazing metropolitan amenities. It’s easy to imagine new condos in Niagara Falls as your dream home.  Read on and surely, you’ll find the most suitable option from among Niagara Falls’ collection of 12 municipalities, each with its own unique charm.

Niagara Falls Pre-Construction Condo Market Trends 2024

Average prices for existing and new homes in Niagara Falls reached $705,314. This was nearly a 73% increase compared with 2023. Old and new condos in Niagara Falls averaged $843,000. Over the past month, the average price of condos in Niagara Falls was 53.6% higher than the average selling price of $391,142 recorded over the past year. The townhouse price currently stands at $755,812. This means the prices have increased by 19% over the last 12 months. The average rent for an apartment in Niagara Falls is currently $1,965, showing an increase of 1% compared to the previous year. The days on the market for homes in this city was 21 days which is 25% shorter than last year.

Pre-Construction Condos & Homes in Niagara Falls

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Reasons to Invest in Niagara Falls

Well-Connected Region

New Niagara Falls condos’ residents can use the seasonal GO train for a summer excursion to Toronto, or take the newly consolidated Niagara Region Transit system to access jobs, neighbouring shops, services, and communities. Plus, Niagara Falls has the least traffic congestion of all of Canada’s largest cities, which means getting around with your private vehicle is easy. Six airports within a one-hour drive (including the Niagara District Airport only a 12-minute flight to Billy Bishop Airport) means the world is at your doorstep.

Great Place for Living

Did you know that Niagara is one of the top 10 Canadian metropolitan areas? With a population of 449,098, a thriving tourist market, gorgeous nature, and an excellent educational system, Niagara has everything you need to live a happy, comfortable life. Plus, according to the National Post, new pre-construction condos in Niagara Falls are ideal for those seeking a more affordable lifestyle without sacrificing quality!

Future-Proofed Growth

Niagara Falls is a well-known tourist destination and has more than 13 million tourists flocking to the area each year, all year round. This creates a stable tourism industry that benefits local businesses and future property owners looking for new developments in Niagara Falls. Plus, the recent expansion of GO Train service in the region, coupled with the well-established VIA Rail connections and the local airport’s 12-minute flights to Toronto, means investors can be sure of efficient and scalable transportation options for residents, businesses, and tourists.

Niagara Falls Rental and Seller Market 2024

Rental Market 

Niagara Falls’ rental market shows positive signs for investors, with a median rent of $1,965 as of June 2024. 

Seller Market

As of June 2024, the average price for detached homes in Niagara Falls reached $705,314. The average selling price of existing and new condos in Niagara Falls over the past 30 days (May 23 – June 21) was $843,000.

Average Renting and Selling Time in Niagara Falls

-New Condos 

Renting Time for Condos: With limited rental options, expect new condos in Niagara Falls to rent out quickly (from a few days to a few weeks).

Selling Time for Condos:  Data shows that condos for sale in Niagara Falls sell out pretty quickly with a median time on the market of only 16 days.

-New Homes 

-Renting Time for Homes: In 2024, suitable rental properties tend to be leased within a few days to a few weeks.

-Selling Time for Homes: According to the latest data, June 2024, the average selling time of new homes in Niagara Falls is 21 days.

Neighbourhoods

Downtown Niagara Falls

Immerse yourself in the vibrant heart of Niagara Falls, where the thundering waters meet urban excitement. Enjoy a mix of historic charm and modern developments, offering diverse living options for residents and visitors.

1. Lundy’s Lane

  • Highlights: Rich in history, with a mix of residential areas and commercial amenities.
  • Perfect For: Those who appreciate a balance between suburban living and easy access to urban conveniences.

2. Fallsview

  • Highlights: Breathtaking views of the Falls, world-class casinos, and luxury hotels.
  • Perfect For: New developments in Niagara Falls in this area are ideal for those seeking an upscale, tourist-friendly environment with stunning vistas.

3. Clifton Hill

  • Highlights: Entertainment district with attractions, restaurants, and lively nightlife.
  • Perfect For: Those who thrive in a bustling, tourist-oriented atmosphere.

North End

Discover the tranquil side of Niagara Falls in the North End, where residential charm meets natural beauty. This area offers a range of housing options, including new townhome developments in Niagara Falls, set against a backdrop of lush greenery.

1. Queenston

  • Highlights: A blend of natural beauty, rich history, and cultural attractions
  • Perfect For: Tourists, history enthusiasts, food lovers, entertainment seekers

South End

Experience the evolving landscape of South Niagara Falls, where new developments blend seamlessly with established neighbourhoods. This area boasts numerous pre-construction homes in Niagara Falls, offering modern living options in a growing community.

1. Chippawa

  • Highlights: Quaint village atmosphere, proximity to the Niagara River, and historic sites.
  • Perfect For: Families and individuals seeking a tight-knit community with a small-town feel.

West End

The West End of Niagara Falls offers a perfect blend of suburban tranquillity and urban convenience. With various Niagara Falls condos for sale, this area caters to diverse lifestyles and preferences.

1. Kalar Road

  • Highlights: Expanding residential area with new subdivisions and amenities.
  • Perfect For: First-time homebuyers and those seeking modern housing options in a developing neighbourhood.

2. Dorchester Road

  • Highlights: Mix of residential and commercial areas, with easy access to amenities.
  • Perfect For: Townhouses for sale in Niagara Falls in this area are ideal for those who value convenience and a suburban lifestyle.

Pros of Living in Niagara Falls

Accessibility Advantage: You shouldn’t be worried about accidentally buying inaccessible pre-construction townhouses in Niagara Falls. It takes a maximum of 45 minutes to reach anywhere within the region thanks to the Queen Elizabeth Way (QEW) and other major highways.

Great Business Base: According to the Niagara Falls Tourism Association, more than 13 million visitors come to see Niagara Falls tourist attractions each year. This means a strong tourism industry that creates great opportunities for local businesses and those who own townhome developments in Niagara Falls.

Great Healthcare:  New Niagara Falls condos for sale have access to a top-notch healthcare system anchored by Niagara Health, a multi-site hospital with different specialties.

Safe Community:  Rest easy knowing Niagara ranks among the top 10 safest metropolitan areas in Canada. Crime rates have been steadily declining, making Niagara a secure environment for everyone.

Exceptional Senior Care: If you seek new condos in Niagara Falls with your senior relatives, you’ll be happy to know that the region has excellent amenities for them. From assisted living, long-term care facilities, or specialized dementia services, Niagara’s Senior Care programs are exceptional. 

World-Class Education: 137 elementary schools, 26 secondary schools, and 11 independent schools mean parents can be sure their little ones will receive an excellent education in Niagara, Ontario.

Post-Secondary Powerhouses: Students looking for new homes in Niagara Falls will be happy to know that Niagara has two world-renowned higher education centres: Niagara College (a leader in applied education) and Brock University (more than 120 undergraduate and graduate programs).

Cons of Living in Niagara Falls

Seasonal Fluctuations: It’s no news that the tourism industry thrives in the summer months. However, some businesses may have reduced hours or closed entirely during the off-season, impacting job availability and the overall liveliness of some areas.

Limited Public Transportation: Public transportation options are limited outside major urban centres like St. Catharines and Niagara Falls. Owning a car is recommended for greater accessibility within the city and surrounding areas.

FAQs About New Condos and Homes in Niagara Falls

Is Niagara Falls a buyer's or seller's market?

Currently (June 2024), Niagara Falls is a seller’s market, particularly for condos. Low inventory and high demand are driving prices up.

What are the average sold prices for new pre-construction projects in Niagara Falls?

As of June 2024, the average price for new homes in Niagara Falls sits at $705,314, while the average price for new condos in Niagara Falls is $843,000.

What are the different types of new builds in Niagara?

Buyers have a range of options whether they’re looking for townhouses for sale in Niagara Falls, detached single family homes, or even (low-rise and high-rise) new pre-construction condos in Niagara Falls.

How much down payment is needed for a new condo for sale in Niagara?

In Canada, the minimum down payment for a condo is 5% for the first $50,000 of the purchase price and 10% for the remaining balance.  For example, on a $300,000 condo, the minimum down payment would be $15,000.  It’s important to note that some lenders may require a higher down payment.

Where are the best areas to find new condos and houses in Niagara Region?

The best location depends on your lifestyle preferences. Niagara Falls offers proximity to the iconic falls and urban amenities, while Niagara-on-the-Lake provides a charming small-town atmosphere and proximity to wineries. Consider factors like proximity to work, amenities, schools, and desired atmosphere (urban vs. suburban).

Is it easy to commute with public transportation in Niagara Region?

Public transportation availability varies by location within Niagara. While Niagara Falls and St. Catharines have bus routes, they may not be as extensive as public transit systems in larger cities. Some newer developments might be planned with closer proximity to bus routes or future transit infrastructure.

How long does it typically take for houses to sell in Niagara Falls?

The median time on the market for houses is currently around 21 days.

What's the average condo rent in Niagara?

The average rent for new builds in Niagara Falls, Ontario is currently lower than the national average with a median rent of $1,965 as of June 2024. However, rental prices can vary depending on factors like size, location, and amenities.

What amenities should I expect when finding new condos for sale in Niagara?

If you’re planning to buy new pre-construction condos in Niagara Falls, you can be sure that all the amenities you need are easily accessible. There’s great healthcare, gorgeous parklands, excellent education centres, accessible community centres, exceptional senior care, and many amazing business opportunities.

Is now a good time to sell homes in Niagara Falls?

The real estate market is volatile, making future trend predictions challenging. Consulting with an expert is the best course of action. Since each property is unique, contact us for tailored guidance.

Are there any good schools and universities in Niagara Falls?

Niagara Falls offers several top-rated education options. For high schools, the Niagara Falls District School Board operates public schools with details and ratings on their website. Universities include Niagara University, the University of Niagara Falls Canada, a private university in Ontario offering career-oriented programs, and Brock University.

Why should I consider buying a new home in Niagara Falls?

Niagara Falls is a great location for buying a new home due to its quality education, natural beauty, diverse job market, lower cost of living compared to other major Canadian cities, and new housing developments with various home options to fit different budgets and preferences.

What are the best resources to find out about upcoming new developments in Niagara?

Staying informed about new Niagara condo developments means getting the best prices and incentives before anyone else. Platinum Condo Deals is here to connect you with the latest and best projects in Niagara and all across Canada. Contact us today for a free consultation and let us help you find your dream condo in Niagara!

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