Brantford Real Estate Market Report for November 2017

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Hi,

Here is your Brantford Real Estate Market Report for the month of November 2017. We are taking a closer look at the activity in the month of November for the detached single-family homes in the West Brant area, the North End neighbourhoods, and for the City of Brantford as a whole.

West Brant

The average sale price in the West Brant area in November 2017 was $422,411, which is up 7.19% or $28,347 higher than November 2016. There were 28 new listings of detached homes and 27 sales in the month, which gives us a sales-to-new listings ratio of 96.43% for November 2017. That means that almost every home that was listed in the West Brant area in the month of November was sold, indicating a strong Seller's market for the month. There were 2 fewer new listings last month compared to November 2016, but 1 more sale compared to last year.

North End

The average sale price in the North End neighbourhoods in November 2017 was $423,303, which is up 9.04% or $35,099 higher than November 2016. There were 32 new listings of detached homes and 39 sales in the month, which gives us a sales-to-new listings ratio of 121.88% for November 2017. That means that approximately 12 homes were sold for every 10 homes that were listed in the North End areas in the month of November, indicating a very strong Seller's market last month for the neighbourhoods in the North End. There were 4 more new listings last month compared to November 2016, and 15 more sales compared to last year.

Brantford

The average sale price for all areas of Brantford in November 2017 was $371,236, which is up 7.20% or $24,933 higher than November 2016. There were 125 new listings of detached homes and 133 sales in the month, which gives us a sales-to-new listings ratio of 106.40% for November 2017. That means that there were more homes in Brantford that were sold in the month of November than were listed during the month. These numbers indicate a strong Seller's market for the City of Brantford as a whole and a notable increase in the average sale price compared to last year. There were the same number of new listings in Brantfod last month compared to November 2016, but there were a whopping 31 more sales compared to last year.

Terry's Take on the Brantford Real Estate Market

As you can see by the numbers above there was another significant increase in the average sale price in Brantford for the month of November 2017 in comparison to November 2016. There were also an increase of 30.39% more sales in Brantford last month compared to last year's totals for November. The sales were strong in the West Brant area, the North End neigbhourhoods, and for the City of Brantford as a whole in November 2017 with more detached single-family homes selling in Brantford than were listed during the month. I believe the strong market that we are currently experiencing in the Brantford area has recently been fuelled by a combination of a couple of factors:

1)Many Buyers want to find and purchase a home before the new mortgage rules take effect on January 1, 2018, and

2)The homes for sale in Brantford are still viewed as being priced at a discount in comparison to the prices of homes in the surrounding areas. 

If you're curious about what your home is worth in today's market Click Here to Find Out Your Home's New Value, or call The Terry Summerhays Team at (519)756-8111 for a Free, No Obligation Home Evaluation.

If you're looking for a home in the Brantford area simply Click Here to View Today's New Listings.

Thank you for your time and have a great day!

Terry

 

***Statistical information provided by the Brantford Regional Real Estate Association