Average sale price, Niagara Association of REALTORS area
$640,240As of October 2026.Source
MLS HPI benchmark, single-family, Niagara board area
$588,800As of October 2026.Source
MLS HPI benchmark, apartment, Niagara board area
$354,300As of October 2026.Source
Population of St. Catharines (city)
136,803As of 2021 Census.Source
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St. Catharines had 136,803 residents in 2021 and sits at the centre of the Niagara Region. Its housing data comes from the Niagara Association of REALTORS, which reports for the whole region.

Niagara’s 526 sales and 5.9 months of inventory

Home sales were 526 units, almost flat on a year earlier. The average sale price was $640,240, down 2.4%, and the year to date average was $645,868, down 4.3%. Active listings were 3,088, down 16.5% from a year earlier, and months of inventory dropped to 5.9 from 7.1. That is still above the longer-run average of 4.5 months, which means buyers keep real choice.

These are regional figures, so a St. Catharines home may sit above or below them.

Why the home type changes the answer

The board’s benchmark prices show the spread: $588,800 for a single-family home, $519,300 for a townhouse and $354,300 for an apartment. Each is down on a year earlier, by 4.2%, 2.9% and 4.8%.

The 80% limit the Financial Consumer Agency of Canada describes treats a house and an apartment very differently. The two examples above use the single-family and apartment benchmarks. The house owner has $91,040 of room, and the apartment owner has $33,440, though both have six figures of equity. Add the fees, which fall on a small loan more heavily, and it can be hard to make a loan under about $20,000 worth the cost.

A market that is still sitting

With months of inventory near six, the Niagara market is not hot. A private lender’s concern is simple: if the loan went wrong and the home had to be sold, how long would that take? A regional figure above the long-run average is a reason for lenders to be careful about loan to value, and for you to expect an appraisal to be conservative.

If your goal is to clear several debts at once, our debt consolidation page shows how fees can cancel the first year of savings. If you plan to borrow against the home and not consolidate, read about a home equity loan.

Older owners and the end of an interest-only term

For longtime owners the home is often the main asset, and retirement income may be modest. Whatever your history with local employers, a lender wants to see the income you have now.

If you are older and living on that income, a second mortgage that is interest only needs a plan for the end of the term. The reverse mortgage page covers an alternative that has no monthly payment but does grow the debt. Also compare private and bank second mortgages, as a bank may be cheaper if you qualify.

Fees, and CMHC’s early warning on consumer credit

Ontario’s land transfer tax is charged on purchases, and we found no such line for registering a second mortgage, as the Ontario page sets out. Budget for legal fees, an appraisal, the registration fee and any lender or broker fee.

CMHC’s October 2026 release put Ontario arrears at 0.32% in the second quarter of 2026 and did not single out Niagara. It said delinquencies on auto loans, credit cards and lines of credit are rising, and that is an early warning to act on before a mortgage payment is missed.

A 2.8% rise in five years

St. Catharines added only 2.8% in five years, from 133,113 to 136,803 residents between the 2016 and 2021 Censuses, while the wider St. Catharines and Niagara area grew 6.8% to 433,604. The 2021 Census counted 61,977 private dwellings in the city, 58,903 of them occupied.

Slower growth is not a problem for a homeowner by itself, but it means fewer new buyers competing for each resale. A lender thinking about the worst case weighs that, so a plan that only works if the home sells fast is a weak plan. Keep any loan small enough that you could wait for a fair price if you had to sell.

Confirming a licence before a St. Catharines loan

Private lenders in Ontario are reached through Level 2 agents and brokers, so ask for the licence number and look it up. If you prefer to start with the sums, use the calculator, then take your St. Catharines figures to the options form.

A St. Catharines area single-family home at the October 2026 benchmark

The $588,800 value is the Niagara board's single-family benchmark price for October 2026, used as a stand-in for an appraisal. The $380,000 first mortgage and $50,000 new loan are made up. The 80% ceiling is the Financial Consumer Agency of Canada's limit for second mortgages.

Home value used
$588,800
Equity before the loan
$208,800

$588,800 minus $380,000

80% of the home value
$471,040

$588,800 x 0.8

Combined loan-to-value with a $50,000 loan
73.0%

$430,000 divided by $588,800

Room under an 80% ceiling before the loan
$91,040

A $50,000 loan fits with $41,040 of room to spare. That is a fair cushion in a market where the benchmark fell 4.2% in a year.

Illustration only. The figures are made up to show the arithmetic. They are not a quote, a rate or an offer.

A St. Catharines area apartment at the October 2026 benchmark

The $354,300 value is the Niagara board's apartment benchmark price for October 2026, used as a stand-in. The $250,000 first mortgage and $20,000 new loan are made up.

Home value used
$354,300
Equity before the loan
$104,300

$354,300 minus $250,000

80% of the home value
$283,440

$354,300 x 0.8

Combined loan-to-value with a $20,000 loan
76.2%

$270,000 divided by $354,300

Room under an 80% ceiling before the loan
$33,440

Equity of $104,300 becomes $33,440 of room. After a $20,000 loan only $13,440 is left, and the lender's fee on a loan this small takes a big share of it.

Illustration only. The figures are made up to show the arithmetic. They are not a quote, a rate or an offer.

Questions people ask

Are the Niagara board figures specific to St. Catharines?

No. The Niagara Association of REALTORS reports for its whole area, which covers communities across the Niagara Region. We use those figures as a regional guide. Your own home's value comes from an appraisal, not from a regional average.

Is 5.9 months of inventory a problem for someone who wants to borrow?

It means that, at October 2026's pace of sales, the active listings would take about six months to sell, against a longer-run average of 4.5 months. A private lender may price more cautiously where resale looks slower.

Can a retired St. Catharines owner use a second mortgage instead of selling?

It is possible if the payments fit your income, but interest only loans come due at the end of the term. Read about reverse mortgages and downsizing too, and ask a lawyer what happens to your heirs if the loan is not repaid.

Does a public-sector job help a St. Catharines borrower?

It can help, but each lender decides for itself. Lenders may view steady public-sector pay more favourably than irregular income. Bring pay stubs and an employment letter, and ask what documents each lender accepts.

Does an apartment in St. Catharines qualify for a second mortgage?

Some lenders lend on apartments and condos and some do not. Expect them to ask about the building and its fees. The October 2026 apartment benchmark for the Niagara board was $354,300, which limits how large a loan fits under an 80% ceiling.

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Sources