Brantford Real Estate and Community News

May 4, 2020

Brantford Real Estate Update for May 2020

 

Hi Everyone,

Here is your Brantford Real Estate Update for May 2020 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. 

 

Brantford

The average sale price for a detached single-family home for all areas of Brantford in April 2020 was $479,596, which is up by 8.66% or $38,212 compared to the average sale price of $441,384 for April 2019. The sales-to-new listings ratio for the month of April  was 55.56%. That means that approximately 5 homes in Brantford were sold for every 10 homes that were listed in the month, indicating a balanced market for the City of Brantford as a whole. Earlier this year, before the pandemic hit, we had a sales-to-new listings ratio of over 80%, meaning 8 out of 10 homes were being sold, indicating a strong Seller's market at that time.

North End

The average sale price in Brantford’s North End neighbourhoods in April 2020 was $475,723 which is up by .91% or $4,272 compared to the average sale price of $471,451 for April 2019. The sales-to-new listings ratio in the North End last month was 61.90%, meaning that there were 6 homes sold in the North End areas for every 10 new listings in the North End that came on the market, which is bordering between a balanced market and a Seller's market. However, keep in mind that both the # of new listings and the # of sales are down significantly so with the fewer sales last month the average sale price in the North End neighbourhoods can be easily skewed by a few higher or lower sale prices.

West Brant

The average sale price in the West Brant area in April 2020 was $569,943, which is up by 20.54% or $97,105 compared to the average sale price of $472,838 for April 2019. The sales-to-new listings ratio in West Brant for the month of April  was 73.68%. That means in April 2020, 7 homes for sale in West Brant were sold for every 10 homes that were listed during the month, indicating a Seller's market in the West Brant area. However, keep in mind that both the # of new listings and the # of sales are down significantly so with the fewer sales last month the average sale price in the West Brant area can be easily skewed by a few higher or lower sale prices. 

Terry's Take on the Brantford Real Estate Market

I've been keeping a very close eye on the Brantford real estate market so I can advise my clients on when it will be the best time to make a move. Looking at the overall stats from last month we can see how this COVID-19 pandemic has impacted our local real estate market. On the positive side, the houses for sale in Brantford are still selling, and the average sale price for a detached residential home in Brantford is actually up 8.66% compared to a year ago. On the not-so-positive side, the # of homes sold in Brantford last month dropped significantly with 57.36% fewer sales compared to a year ago. The # of new listings in Brantford also dropped with 52.86% fewer new listings. We started this year in a very strong Seller's market but right now we are experiencing a balanced market, which isn't necessarily a bad thing if you are planning on buying and selling a home.  

If you live in Brantford or Brant County and you are still planning on, or hoping to be able to make a move this year, give us a call and we can go over your best options with you, and we can also let you know when it will be the most favourable time for you to make a move depending on a couple of factors regarding your plans. Click Here to Schedule a Free Video Consultation or Call 519-802-8770 and press "5" to leave a message with your name and phone number.

To learn how Terry Summerhays sells his listings for more money, check out our proven and aggressive Summerhays Selling System so you can sell your Brantford home faster, easier, and for more money!

Thank you for your time and stay safe!

 

Terry

 

 

***Statistical information was compiled from data provided by the Brantford Regional Real Estate Association

April 22, 2020

How Technology is Helping Buyers Navigate the Home Search Process

 

How Technology is Helping Buyers Navigate the Home Search Process [INFOGRAPHIC] | MyKCMSome Highlights:

  • A recent survey revealed that buyers are still considering moving forward with the homebuying process, even if they can’t see the home in-person.
  • While they still prefer to physically see a home, virtual home tours and accurate listing information top the list of tech specs buyers find most helpful in today’s process.
  • Let’s connect today to determine how technology can help power your home search and when it will be the best time to jump back into the market.

 

April 16, 2020

What You Can Do to Get Your House Ready to Sell

What You Can Do to Get Your House Ready to Sell | MyKCM

Some Highlights:

  • Believe it or not, there are lots of things you can do to prep your house for a sale without even going to the store.
  • Your real estate plans don’t have to be completely on hold while we’ve hit the pause button for the moment.
  • Tackling small projects from cleaning the corners you may normally skip to tidying up your yard are easy and necessary wins if you’re thinking of listing your house and making a move when it's safe to do so.

Call The Terry Summerhays Team at 519-802-8770 for more tips on what you can do to get your home ready for the market while we wait for this COVID-19 pandemic to be over.

April 16, 2020

Keys to Selling Your House Virtually

Keys to Selling Your House Virtually | MyKCM

Despite real estate professionals advising for you to hold off on selling your home if possible, people who need to sell their homes have indicated they are generally willing to allow the necessary people(photographer and videographer) and some potential buyers inside if done under the right conditions and as long as pre-cautionary measures are being taken. Hosting an open house is not allowed under the new COVID-19 rules which is of course understandable and appropriate given the health concerns associated with social contact these days. The question is, if you need to sell your house now, what virtual practices should you use to make sure you, your family, and potential buyers stay safe during the process?

In today’s rapidly changing market, it’s more important than ever to make sure you have a digital game plan and an effective online marketing strategy when selling your house. One of the ways your agent can help with this is to make sure your listing photos and virtual tours stand out from the crowd, truly giving buyers a detailed and thorough view of your home. The use of Matterport technology allows the Buyers to take a virtual interactive walkthrough through your home as if they were physically walking through it but without needing to be there in person(The Terry Summerhays Team utilizes Matterport technology for all of their listings during this pandemic).

So, if you’re ready to move forward, virtual practices may help you win big when you’re ready to sell. While abiding by local regulations is a top priority, a real estate agent can help make your sale happen if it is deemed necessary. Agents know exactly what today’s buyers need, and how to put the necessary digital steps in place. When asked to select what technology would be most helpful when deciding on a new home, here’s what today’s homebuyers said, in order of preference:

  • Virtual tour of the home
  • Accurate and detailed listing information
  • Detailed neighborhood information
  • High-quality listing photos

After leveraging technology, if you have serious buyers who still want to see your house in person, keep in mind that according to the Canadian Real Estate Association, there are ways to proceed safely. Here are a few of the guidelines, understanding that the top priority should always be to obey local restrictions first and the information provided by the Public Health Agency of Canada:

  • Limit in-person activity
  • Require guests to wash their hands or use an alcohol-based sanitizer
  • Remove shoes or cover with booties
  • Follow guidance on social distancing and wearing face coverings

Getting comfortable with your agent – a true trusted advisor – taking these steps under the new safety standards might be your best plan. This is especially important if you’re in a position where you need to sell your house sooner rather than later. 

Bottom Line

In a new era of life, things are shifting quickly, and virtual strategies for sellers may be a great option. Opening your doors up to digital approaches may be game-changing when it comes to selling your house. Let’s connect so you have a trusted real estate professional to help you safely and effectively navigate through all that’s new when it comes to making your next move. Call The Terry Summerhays Team today at 519-802-8770 and let's discuss your best options.

 

April 13, 2020

Brantford Real Estate Update for the Week ofApril 6th to April 12th

We hope you and you're family are doing well and staying safe and healthy! We are getting a lot of questions right now from people who were planning on making a move this year asking how this COVID-19 pandemic is affecting the Brantford Real Estate market. I know everyone is looking for certainty right now at a time that is filled with uncertainty. The reality is that we'll need to monitor the situation closely to know when it will be the right time to jump back into the market to buy a home and when it will be the right time to sell a home. For example, last week 9 out of the 11 detached homes that were sold in Brantford sold for below their asking prices, and the average sale price to list price was 98.48%. We will be providing a weekly update about what's happening in our local real estate market and letting our clients know when it is the best time to buy a home so they can get a great deal on their next home, and also when it is the best time for them to put their homes on the market.

If you're planning on making a move this year this is a great time to plan ahead and get the information you need so you'll be ready to go when the time is right to do so. Call The Terry Summerhays Team at 519-802-8770 if you'd like to know when it will be the best time to buy a home and when it will be the best time to sell your home.  

Have a great day and stay safe!

April 9, 2020

What You Can Do to Keep Your Dream of Homeownership Moving Forward

What You Can Do to Keep Your Dream of Homeownership Moving Forward [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Although we recommend putting your homeownership plans or moving plans on hold for the time being, you can still gather the information you need while you wait. 
  • There are several things you can do right now to keep your home search moving forward and to position yourself to take advantage of opportunities in the market.
  • Connect with an agent, get pre-approved, and start planning ahead so you can be ready to go when the timing is right to do so.

 

April 3, 2020

How to Test-Drive a Neighbourhood While Sheltering in Place

How to Test-Drive a Neighborhood While Sheltering in Place [INFOGRAPHIC] | MyKCM

Some Highlights

  • Staying at home doesn’t mean your search for a new place needs to come to a standstill.
  • Check out these tips on how to explore other neighbourhoods virtually in the homebuying process. You may find a spot that better suits your needs without ever leaving your living room!
  • Let’s connect today so you have help with all of the additional steps along the way, and you’re ready to make your next move.
April 3, 2020

Brantford Real Estate Update For April 2020

Hi Everyone,

Here is your Brantford Real Estate Update for April 2020 with the statistics from last month for the detached single-family homes in the City of Brantford, the North End neighbourhoods, and the West Brant area. The month started strong as you can see by the numbers below but slowed down near the end of the month as I believe more people are starting to take the COVID-19 pandemic more seriously.

Brantford

The average sale price for a detached single-family home for all areas of Brantford in March 2020 was $498,032, which is up by 19.21% or $80,251 compared to the average sale price of $417,781 for March 2019. The sales-to-new listings ratio for the month of March  was 66.46%. That means that almost 7 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. However, almost half of the homes that were sold in the last week of March sold for below the asking price!

North End

The average sale price in Brantford’s North End neighbourhoods in March 2020 was $517,455 which is up by 6.92% or $33,493 compared to the average sale price of $483,962 for March 2019. The sales-to-new listings ratio in the North End last month was 80.49%, meaning that there were 8 homes sold in the North End areas for every 10 homes that came on the market. However, there were only 7 detached homes sold in the North End areas in the last week of March and 4 of those homes sold for below the asking price!

West Brant

The average sale price in the West Brant area in March 2020 was $583,385, which is up by 11.39% or $59,642 compared to the average sale price of $523,743 for March 2019. The sales-to-new listings ratio in West Brant for the month of March  was 70.00%. That means in March 2020, 7 homes were sold for every 10 homes that were listed during the month, indicating a Seller's market in the West Brant area. However, there were only 4 homes sold in the West Brant neighbourhoods in the last week of March and 2 of those homes sold for below the asking price!

Terry's Take on the Brantford Real Estate Market

The month of March 2020 started strong as the Brantford real estate market was as hot as ever heading into the month, but the COVID-19 pandemic began to have an effect on our local market as the month progressed. Although real estate was deemed an "essential" service, right now is NOT the time to put your home on the market! Aside from the obvious concern of having strangers go through your home during this pandemic and risk exposing yourself and your family to COVID-19, the number of showings have declined significantly over the past week or so as I believe more people are starting to take this virus more seriously. I know it's an inconvenience if you were planning on making a move this year but let's put things on hold for now and put your health and safety first so we can try to stop the spread of COVID-19 before it gets out of control like it already has in the other countries!!!

I am not meeting with anyone in person right now and I haven't since March 4th, but I am doing video consultations so I can share the information on my screen with you, answer all of your questions, and give you some tips on what you can do right now while you're stuck at home anyways to get your home ready for the market so you'll be ahead of the curve and ready to go when this COVID-19 is finally behind us. Click Here to Schedule a Free Video Consultation or Call 519-802-8770 and press "5" to leave a message with your name and phone number.

Also, I will be keeping a close eye on our local real estate market and providing a weekly update about what's happening to our clients, family and friends. If you would like to be added to my weekly updates just Call or Text 519-802-8770 with your Name and Email Address and I will add you to the updates. 

Thank you for your time and stay safe!

 

Terry

 

 

***Statistical information was compiled from data provided by the Brantford Regional Real Estate Association

April 2, 2020

Don’t Let Frightening Headlines Scare You

 

Don’t Let Frightening Headlines Scare You | MyKCM

There’s a lot of anxiety right now regarding the COVID-19 pandemic. The health situation must be addressed quickly, and many are concerned about the impact on the economy as well.

Amidst all this anxiety, anyone with a megaphone – from the mainstream media to a lone blogger – has realized that bad news sells. Unfortunately, we will continue to see a rash of horrifying headlines over the next few months. Let’s make sure we aren’t paralyzed by a headline before we get the full story.

When it comes to the health issue, you should look to the Public Health Agency of Canada or the World Health Organization (WHO) for the most reliable information.

Finding reliable resources with information on the economic impact of the virus is more difficult. For this reason, it’s important to shed some light on the situation. According to Deloitte

“ The degree of economic weakness is tempered by the coordinated effort across many governments and central banks to provide fiscal and monetary stimulus" 

 

They also went on to say:

" As COVID-19 is contained, with the number of active cases diminishing and as the impact of stimulus is felt, we look for a rebound of economic growth later this year and through 2021."

There are already alarmist headlines starting to appear. The economy will suffer for the next few months, but then it will recover. That’s certainly not Armageddon. 

Bottom Line

There’s a lot of misinformation out there. We are keeping a close eye on the Brantford real estate market so our clients can make informed decisions. If you want the best advice on what’s truly happening in the current housing market, give The Terry Summerhays Team a call today at 519-802-8770 and let's talk. 

 

March 26, 2020

Confidence Is the Key to Success for Young Homebuyers

 

Confidence Is the Key to Success for Young Homebuyers | MyKCM

Buying your first home can seem overwhelming. Thankfully, there’s a lot of great information out there to help you feel more confident as you learn about the process. For those in younger generations who aspire to buy, here are three things to consider sooner rather than later in your journey:

1. Understand What it Takes to Purchase a Home

Overall, Millennials make up the largest group of homebuyers in today’s real estate market, and Gen Z is not too far behind. It would appear however, that Generation Z isn’t as confident in the homebuying process as Millennials. The best thing potential young buyers can do is understand what it takes to buy a home. Learn as much as you can about the mortgage process, down payment options, and the overall steps to take along the way. 

2. Realize Your Opportunity to Build Wealth 

Homeownership allows you the chance to put a small portion of the home’s value down when you buy, and then watch your appreciation grow on the full value of the home – not just on the down payment. It’s one of the best investments you can make, and a form of forced savings working in your favor over time. The added bonus? You get to live there, too.

3. Find Someone You Trust to Help You Through the Process 

Having someone you trust to guide you through this process is invaluable. Finding a local real estate expert in the Brantford real estate market to help you navigate through the transaction and feel more confident as you make important decisions could be the best choice you make.

For Millennials and Gen Z’ers thinking about buying, today’s historically low interest rates combined with the outlook for future home appreciation is a big win. This means whatever you buy today, you’ll be bragging about 10 years from now. You can feel confident about that!

Bottom Line

If you’re ready, buying your first home sooner rather than later is one of the best decisions you can make. But there are many things to consider before taking that step, so let’s work together to help you confidently navigate the full journey. Call The Terry Summerhays Team today at 519-802-8770 or Click Here to schedule a free video chat with us so we can provide you with the information you need to be able to buy a home after this COVID-19 pandemic is behind us.