September 2011 was a steady month for the Niagara real estate market with similar sales volumes, prices increasing marginally, and listings and sales numbers consistent with previous years. While total annual sales remained about 8% lower than 2008 levels, average home prices increased year-to-date across the region. New listings and sales numbers also saw minimal fluctuations over the past few years on a monthly and annual basis. The report concluded the market was best described as experiencing "gentle waves" without major price or volume changes.