Brantford Real Estate Market Update for December 2023


 

Hi Everyone,

Here is your Brantford Real Estate Update for December 2023 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 really happening in those neighbourhoods. We also can't use the # of New Listings statistic right now since there have been so many homes recently that are being cancelled and relisted numerous times and at various different prices within a short time.

Brantford

The average sale price for a detached single family home in Brantford is $641,052, which has gone up by .09% or an average of less than $1,000 compared to the average sale price of $640,472 in November 2022. However, compared to the strong market of November 2021 the average sale price has gone down by 17.27% or an average of $133,843.

The # of sales are up by 18% versus November 2022, but compared to November of 2021 the # of sales have gone down by 49.14%.

The # of active listings in Brantford is up by 23.67% compared to 1 year ago, and it's up by 426%(Yes that is correct. The 426% is not a misprint!) versus the strong market from 2 years ago. 

North End

The average sale price in Brantford’s North End neighbourhoods in November 2023 was $694,875 which is up by 4.3% compared to November 2022. There were 7.89% fewer active listings in the North End neighbourhoods last month, and the number of sales in the North End areas dropped by 6.25% compared to a year ago. 

West Brant

The average sale price in the West Brant area in November 2023 was $810,390 which is up by 7.93% compared to the average sale price in November 2022. There were 32.50% more active listings in West Brant last month, and there were 11.11% more sales in the West Brant area versus 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

The statistics for November 2023 show the average sale price being up slightly(up .09%) compared to 1 year ago but November 2022 was one of the worst markets for the Brantford real estate market, and compared to the strong market in November 2021 the average sale price has gone down by an average of $133,843 since that time. The # of sales are also down a significant amount since that time with almost 50% fewer sales, and there are more than 4 times as many homes on the market compared to November 2021. It just goes to show how much the real estate market in Brantford has changed since the super hot Seller's market we were experiencing in 2021 and right up until February 2022. Now with so many homes for the Buyers to choose from, especially in the higher price ranges, with the prices having come down from the crazy prices of 2021, and with the interest rates starting to slowly come back down, the Brantford real estate market has become far more favourable for a Buyer to get an excellent price on the home they really want.

Same as for last month's update, the good news for a homeowner who purchased their home 3 years ago or longer is that they will have benefited from the huge spikes in the home values over the previous years so they will have built up a lot of equity in their home. For someone who is wanting to downsize they would have done far better if they had of sold in 2021 since the prices have come down so much since then, but for a homeowner who would like to move up to a larger home or to a more preferred neighbourhood this is the perfect market to do so.

Working with an experienced and knowledgeable local Brantford realtor who's been through this type of market before and has the skills and experience to know how to negotiate in this market can help you take advantage of this market on both the selling side and the buying side.

So far in 2023 the residential homes that have been sold have averaged a sale price that was 99.10% of the asking price(it should actually be lower than that because that # is based on the most recent asking price and not the "original" asking price and there are several homes that were originally listed at a price that was $50,000 to $100,000 higher than the last asking price the home was at when it finally sold). The Terry Summerhays Team listings in Brantford so far in 2023 have averaged a sale price that is 109.09% of the asking price thanks to our superior marketing system. That's a lot more money going into our clients' pockets! Check out our Summerhays Selling System and a few of the things we do to get well over 100,000 impressions for your home on Google, Facebook, Instagram, YouTube, and LinkedIn to literally tens of thousands of potential Buyers in the areas we target.

Are you planning on making a move this year or in 2024? Click here to find out how much your home could sell for in the current market. 

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.  The more time we have to help you plan for your move the better!

Thank you for your time and have a great day!

Are you thinking about making a move? Fill out the form below and Terry will get in touch with you soon.

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