Here is your Brantford Real Estate Market Report for the month of November 2018 with the statistics for the detached single-family homes in the City of Brantford, the North End neighbourhoods, and the West Brant area.
The average sale price for a detached single-family home for all areas of Brantford in November 2018 was $398,388, which is 7.34% higher than November 2017. There were 103 new listings of detached homes and 82 sales in the month, which gives us a sales-to-new listings ratio of 79.61% for the month of November. That means that 8 homes were sold for every 10 homes that were listed in the month, indicating a Seller's market for the City of Brantford as a whole. If you're curious about how much your home might be worth in this market, Click Here to Contact Us Now for a Free, No Obligation Market Evaluation of Your Home.
The average sale price in Brantford’s North End neighbourhoods in November 2018 was $424,311, which is up 0.25% compared to November 2017. There were only 16 new listings of detached homes but 38 sales in the month of November, which gives us a sales-to-new listings ratio of a whopping 237.50% for the month. That means that there were almost 2.5 times as many homes sold than were listed in the North End areas in the month of November, indicating an extreme Seller's market in the North End neighbourhoods last month. Click Here to Check Out a few of the things we do to get Your Home Sold for Top Dollar!
The average sale price in the West Brant area in November 2018 was $420,082, which is down 0.55% lower than November 2017. There were 29 new listings of detached homes and 11 sales in the month of November, which gives us a sales-to-new listings ratio of 37.93% for the month. That means that a little under 4 homes were sold for every 10 homes that were listed in November 2018, indicating a slight Buyer's market last month in the West Brant area.
Terry's Take on the Brantford Real Estate Market
Looking at the numbers for the month of November, the key points to remember from the month are that the average sale price in Brantford is up 7.34% compared to last year, and while the number of listings are down there is still a high demand for the homes in certain neighbourhoods as the inventory levels are low in those areas. I'm finding that a lot of the homes are being overpriced right now which has resulted in those homes sitting on the market for extended periods of time while the homes that are priced correctly are getting a lot of interest and being sold fast at a great price! Basically what's happening is that the overpriced listings are helping the correctly priced listings sell faster and for more money.
The Terry Summerhays Team's listings this year have sold with an average sale price that is 4.87% above the asking price, and 6.67% higher than the Brantford Regional Real Estate Association's average sale price in 2018, which is 98.2% of the asking price. When you're selling your home that's a lot more money in your pocket! Don't just settle for a sign on your lawn, Click Here to find out why and how we sell our listings for MORE MONEY!!
If you are thinking about selling your home and you would like to get it sold fast and for an excellent price call Terry today at (519)802-8770 or Click Here to Contact Us Now for a Free, No Obligation Market Evaluation of Your Home.
If you are looking for a home in the Brantford area Click Here to View Today’s New Listings and to get more information about Brantford. The Terry Summerhays Team are a team of local real estate professionals who know the City of Brantford and surrounding areas inside and out. Contact us today for all of your real estate needs.
Thank you for your time and have a great day!
***Statistical information was compiled from data provided by the Brantford Regional Real Estate Association