Published May 2019
The local real estate market is off to the races with an influx of homes coming on the market in the past 45 days and sales tracking ahead of 2018 numbers.
Advice For Spring Buyers
Buying a home in the spring of 2019 means competition in a very active market that favours sellers.
Homes that are new on the market and priced well will be selling fast with multiple bidders. Be prepared to compete for the best homes or be willing to get creative with your Realtor to find properties that others are overlooking.
Advice For Spring Sellers
The real estate market never really slowed down over the winter and this has caused low inventory levels to fuel an early start to the spring market.
An active seller's market is already underway and we expect it to continue into the summer months. To take advantage of these conditions final preparations, staging, and professional marketing is a must.
Not every seller will win in this market, so the right strategy is critical.
What Local Homeowners Need To Know
Property owners in Brantford should be excited by the latest market data. Sales and active inventory are up while average prices continue to climb - currently 6% ahead of last year.
We are experiencing a strong and stable real estate market, and our neighbouring cities are still significantly more expensive to purchase in.
We expect the demand for homes in Brantford to continue to increase causing home prices to continue their rapid rise.
May 5, 2019: Brantford, Paris, and Brant County
There were 164 homes sold in Brantford last month and just under 500 year-to-date. This is up more than 17% from last year. The Paris market is booming with 105 sales so far this year, an increase of 72% from spring 2018. Sales activity in the county is down 17%.
A competitive start to the year has seen more than a third of all homes sell for over the asking price, while an additional 7% of homes sold for exactly asking price.
The number of new listings is up by 17% in Brantford - 774 homes have been listed for sale so far this year. The increase in Paris is staggering with almost 200 homes put up for sale, more than double 2018. New listings in the county are up 10% from last year.
Homes are selling quickly in Brantford with an average time on market of just 22 days. This is 4% quicker than April last year. In Paris is average home is selling in six weeks, while in the county things move a little slower with the average home selling in seven weeks.
In April the average detached home price was $438,000 which is up 6% from this same time last year. A detached home is $100,000 more next door in Paris and almost $650,000 in the county. Home prices are stable and continue to rise with demand in Brantford and Paris.
Brantford remains one of the most affordable cities in the Greater Golden Horseshoe. Home prices are 24% higher in Cambridge and 46% higher in Guelph. In Hamilton, an average home will cost you almost $150,000 more than in Brantford. Prices are more than double just 40 minutes away in Burlington.
It’s no wonder why demand for both new and resale homes in Brantford remains high. We expect this to continue for the foreseeable future.
- Jeff Thibodeau, Broker & Analyst - Redline Properties Inc. Brokerage