Brantford Real Estate Market Update for December 2022
Here is your Brantford Real Estate Update for December 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. *Keep in mind there aren't enough sales in each of the other neighbourhoods in Brantford to be able to provide information that would be a true reflection of what is happening in those neighbourhoods.
The sale price for a detached single family home in Brantford has gone down by an average of 16.46% compared to a year ago. There were also 56.52% fewer sales in Brantford last month. There are some excellent opportunities for buying a home right now, and if you need to sell a home the good news is that the homes that are priced in line with the current market are still selling fast and for a good price. Click here to check out the newest listings of homes for sale in Brantford and Brant County.
The average sale price in Brantford’s North End neighbourhoods in November 2022 was $666,206, which is down by 19.45% compared to November 2021. There were 56.52% less new listings in the North End neighbourhoods last month and the number of sales dropped considerably with 42.86% fewer sales compared to a year ago.
The average sale price in the West Brant area in November 2022 was $750,833, which is down 14.37% compared to the average sale price in November 2021. There were 31.82% more new listings in West Brant last month but there were 47.06% fewer sales compared to a year ago.
Call The Terry Summerhays Team today at 519-802-8770 for a Free Home Valuation and Tips on How to Take Advantage of this Market!
Terry's Take on the Brantford Real Estate Market
With more listings coming on the market and the impact of the rising interest rates there was a significant drop in the # of homes that sold last month and the average sale price dropped by a good chunk as well. I've noticed that several of the houses for sale in Brantford are simply being overpriced for this market because the Seller is either thinking they can still get the same price they could have got for their home 8-9 months ago and/or they are not getting the correct information about the true value of their home in the current real estate market.
If we had a more stable market over the past few years and we didn't have such a crazy market with the sale prices jumping up by 15-20% each year and hitting some absolutely outrageous prices then I'm sure we would be happy with the average sale price for a home in Brantford being at $640,472. Think about it, if we went back 5 years or so that was probably the average sale price for a home in Oakville or Burlington, NOT Brantford. (*Full Disclaimer: I can't say for sure because Oakville and Burlington are not my markets). The sale prices have come back down to more realistic prices but the homes that are being listed at a price that is in line with this market and being promoted aggressively are still selling fast and for a good price. Our listings have still been getting multiple offers and selling fast and for above the asking prices!
In this new market the pricing and marketing for a property is extremely important if you want to maximize the sale price for your home and also have a smooth transaction. Great marketing still sells homes! Click here to find out what your Brantford home is really worth in the current market. You can check out a few of the things we do to make sure your home stands out in this crowded marketplace at Summerhays Selling System.
Whether you're thinking about buying your 1st home, or moving up to a larger home, or downsizing to a smaller home, we can help you! We pride ourselves in helping our clients be able to plan ahead and make the right decisions in this type of market so they can take advantage of this market. Contact us today and let's get started!
To schedule a free consultation about buying and/or selling a home in this market just give us a call at 519-802-8770, or fill out the form below.
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