Brantford Real Estate Market Update for May 2022
***PLEASE WATCH THE VIDEO ABOVE***
Here is your Brantford Real Estate Update for May 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.
The average sale price in April 2022 for a detached single-family home in Brantford has gone up by 22.42% compared to April 2021. The home values in Brantford have gone up a significant amount compared to a year ago but the market has definitely changed as a result of the additional inventory of homes that have come on the market.
The average sale price in Brantford’s North End neighbourhoods in April 2022 was $855,338, which is up by 19.54% compared to the average sale price in April 2021. There were 12.50% more new listings in the North End neighbourhoods last month and 15.79% fewer sales compared to a year ago.
The average sale price in the West Brant area in April 2022 was $929,576, which is up by 17.83% compared to the average sale price in April 2021. There were 34.62% more new listings in West Brant last month but also 8.57% more sales compared to a year ago.
Call or Text The Terry Summerhays Team today at 519-802-8770 to Sell Your Home for More Money!
Terry's Take on the Brantford Real Estate Market
Over the last few weeks in April there were approximately twice as many new listings that came on the market compared to the number of sales. It's still a great market for selling a home but the additonal inventory from all the people who were wanting to "cash in" or "test" the market due to the absolutely insane market and prices that we had back in January and February has caused a slowdown in the market, especially in certain price ranges and neighbourhoods. Right now it's not enough to just put a sign on your lawn and think that you will automatically receive multiple offers and get anywhere between $150,000 to $300,000 above the asking price for your home, and gone are the days when you could price a home on the high side and get away with it because you could still expect to receive $50,000 or so above the asking price. The marketing for a home in this market is critical and being able to get the additional exposure for your home to make it stand out from the crowd will ultimately be the difference between still getting multiple offers for your home or getting no offers at all! Some of the homes are still selling for some excellent prices because the houses for sale in Brantford are still in high demand but the increased supply of homes for sale means the Buyers have a lot more homes to choose from, which allows the Buyers to be pickier than they could have been in the past.
If you would like to get a free demonstration of our proven Summerhays Selling System and exactly how it will maximize the exposure for your home just give us a call at 519-802-8770 or fill out the form below. The homes listed with The Terry Summerhays Team in 2021 averaged a sale price that was significantly higher than all other residential houses that were sold in Brantford, and we are doing it yet again this year as well!
Thank you for your time and have a great day!
*Based on the sales of residential houses in Brantford in 2021.