Brantford Real Estate Market Update for May 2023
***Watch the Video Above***
Here is your Brantford Real Estate Update for May 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.
The sale price for a detached single family home in Brantford has gone down by an average of 14.63% compared to a year ago, BUT the average sale price for a detached home in Brantford is still $628,541, which is more than $200,000 higher than the average sale price from only 3 years ago. The # of new listings in Brantford have gone down quite a bit more than the decline in the # of sales, which resulted in approximately 24% fewer active listings on the market last month versus April 2022. There has been strong demand for the homes in Brantford so the homes that are being priced and marketed effectively have been selling fast and for excellent prices, while the overpriced or poorly marketed homes are just sitting there which creates opportunities for Buyers to be able to take advantage of those properties to get a great deal!
The average sale price in Brantford’s North End neighbourhoods in April 2023 was $728,253, which is down by 14.86% compared to April 2022. There were 29.63% fewer new listings in the North End neighbourhoods last month but the number of sales in the North End areas were up by 3.13% compared to a year ago.
The average sale price in the West Brant area in April 2023 was $830,158, which is down by 10.20% compared to the average sale price in April 2022. There were 45.71% fewer new listings in West Brant last month versus a year ago and there were 29.73% fewer 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