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Hi Everyone,

Here is your Brantford Real Estate Update for June 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.

Brantford

The average sale price for a detached single family home in Brantford is $750,199, which is down by 2.32% compared to a year ago. However, if you disregard the irrational prices from back in early 2022 the average sale price for a detached home in Brantford has gone up by 9.54% compared to 2 years ago, and it's gone up by a whopping 62.9% or an average of almost $300,000 compared to 3 years ago. The # of new listings in Brantford are down by 12.96% versus May 2022 but the # of sales are up by 23.85%.

North End

The average sale price in Brantford’s North End neighbourhoods in May 2023 was $753,919, which is down by 6.65% compared to May 2022. There were 20% fewer new listings in the North End neighbourhoods last month but the number of sales in the North End areas were up by 28.57% compared to a year ago.

West Brant

The average sale price in the West Brant area in May 2023 was $818,630, which is down by 10.86% compared to the average sale price in May 2022. There were 23.08% fewer new listings in West Brant last month versus a year ago but there were 7.14% more sales in the West Brant area.

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 demand for the houses for sale in Brantford has been strong, especially in certan neighbourhoods and price ranges. An interesting fact is that approximately 1/2 of the homes that were sold last month were sold for above the asking price(our last 2 listings sold with "cash" Offers that were more than $60,000 above the asking prices), and approximately 1/2 the homes were sold for below the asking price. So how do you know if a particular home should sell for above or below it's asking price, to make sure you don't overpay for a home? That's simple, if you're working with an experienced and knowledgeable local Brantford realtor who knows the values for the different types of properties in the various neighbourhoods in Brantford then they'll be able to tell you if the asking price for a home is a good price or a not-so-good price, and more importantly, how much that home should sell for in the current market.

If you're looking for a new home as we head into the busy Spring and Summer markets there should be lots of new listings that will be coming on the market and great opportunities for you to find a home that has everything you're looking for. If you have a home you would need to sell the market has been strong and when handled properly you can experience a smooth sale with multiple offers and get an excellent price.

So far in 2023 the homes that have been sold have averaged a sale price that was 99.3% 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). Our listings here at The Terry Summerhays Team in 2023 have been averaging a sale price that is 8.27% ABOVE the asking price thanks to our proven and aggressive real estate marketing system. 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 thousands of potential Buyers in the areas we target.

Are you planning on making a move this year? 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.  It's never too early to connect so we can start helping you plan ahead for your move!

Thank you for your time and have a great day!