Here is your Brantford Real Estate Update for September 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 average sale price for a detached single family home in Brantford is $669,600, which is down 7.56% versus the average sale price of $724,352 in August 2022, whereas the # of new listings in Brantford are up by 5.56% from a year ago and the # of sales are up by 31.71% because there is still a strong demand for the homes in Brantford.
The average sale price in Brantford’s North End neighbourhoods in August 2023 was $770,840 which is up by 9.13% compared to August 2022. There were 33.33% more new listings in the North End neighbourhoods last month but the number of sales in the North End areas were down by 16.67% compared to a year ago.
The average sale price in the West Brant area in August 2023 was $836,414, which is down by 6.26% compared to the average sale price in August 2022. There were 9.09% fewer new listings in West Brant last month versus a year ago and there were 4.55% 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
An interesting stat from last month is that less than 1/2 of the homes on the market are actually selling right now, with only 47.37% of the active listings selling last month, and I see several homes on the market that are simply not going to sell. We had numerous listings last month that had multiple offers and sold for well above their asking prices, but I've been watching other homes on the market that are just sitting there and not selling, or that are finally being sold but for below the asking price, and sometimes for significantly below the asking price.
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). Our listings here at The Terry Summerhays Team in 2023 have averaged a sale price that is 11.55% ABOVE 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? Click here to find out how much your home could sell for in the current market.
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