Posted by Terry Summerhays on Sunday, June 5, 2022 at 1:49 PMBy Terry Summerhays / June 5, 2022Comment
Here is your Brantford Real Estate Update for June 2022 with the statistics from last month for the detached residential homes in the City of Brantford, the North End neighbourhoods, and the West Brant area.
Despite the additional inventory of homes available for sale in Brantford the average sale price in May 2022 for a detached single-family home has still gone up by 10.80% compared to May 2021. However, the number of sales were down by 41.88% compared to a year ago and there were almost twice as many homes on the market versus last year.
The average sale price in Brantford’s North End neighbourhoods in May 2022 was $807,616, which is up by 10.50% compared to May 2021. There were 14.89% more new listings in the North End neighbourhoods last month but there were 37.78% fewer sales compared to a year ago.
The average sale price in the West Brant area in May 2022 was $922,034, which is up by 19.57% compared to the average sale price in May 2021. There were 47.73% more new listings in West Brant last month but there were 34.09% less sales compared to a year ago.
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Terry's Take on the Brantford Real Estate Market
The inventory of houses for sale in Brantford continues to pile up which has the Brantford real estate market trending towards a Buyer's market. This shifting landscape in our local market has resulted in some Sellers having unrealistic expectations and overpricing their homes because they are still hoping to get the type of price they could have achieved in January and February and they refuse to accept the fact that the crazy market from back then is gone! The home values in Brantford are still strong and some homes are still selling for excellent prices, but the real estate market has definitely shifted. With all of the additional homes available for sale right now it makes the marketing for a home critical in order to make sure it will stand out from the crowd because the amount of interest that can be generated for a property will ultimately determine if a home will still receive multiple offers or no offers at all!
The houses for sale in Brantford that are not marketed aggressively are now representing an opportunity for Buyers to get a better deal on a home, and to be able to pay a far lower price than they would have needed to pay for that same home a few months ago.
If you would like to get a free demonstration of our proven Summerhays Selling System and exactly how it will maximize the exposure for your home to make sure your home will stand out in this now crowded market just give us a call at 519-802-8770 or fill out the form below.
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