***PLEASE WATCH THE VIDEO ABOVE*** Here is your Brantford Real Estate Update for August 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.
The average sale price for a detached single-family home for all areas of Brantford in July 2020 was $559,680, which is up by 22.95% or $104,456 higher compared to the average sale price of $455,224 in July 2019. The sales-to-new listings ratio in July was 87.79%, which means that almost 9 homes in Brantford were sold for every 10 homes that were listed, indicating a very strong Seller's market last month.
The average sale price in Brantford’s North End neighbourhoods in July 2020 was $573,532, which is up 23.34% or $108,539 compared to the average sale price of $464,993 in July 2019. The sales-to-new listings ratio in the North End areas last month was 100.00%, which means that 10 homes were sold in the North End neighbourhoods for every 10 new listings in the North End that came on the market, indicating a very strong Seller's market in the North End areas.
The average sale price in the West Brant area in July 2020 was $698,569, which is up by 23.87% or $134,635 compared to the average sale price of $563,934 in July 2019. The sales-to-new listings ratio in West Brant for the month of July was 96.97%, which means that almost 10 homes in West Brant were sold for every 10 homes that came on the market, indicating a very strong Seller's market in the West Brant areas.
Terry's Take on the Brantford Real Estate Market
The real estate market in Brantford was as strong last month as it's ever been, including the crazy market we had back in 2017, which is mostly due to the high demand for the houses for sale in Brantford and the low supply of homes that are available for sale. Even though the # of new listings were down 19.25% last month compared to a year ago, the # of sales were up 11.03%. Almost all of our listings have been receiving multiple offers and selling for well above their asking prices! We are finding that with our aggressive marketing to areas outside of Brantford, such as Toronto, Oakville, Hamilton, Mississauga, Brampton, Burlington, Milton, Guelph, Kitchener, Cambridge, Waterloo, and so on, we are getting a lot of Buyers from those areas who are wanting to move to Brantford and they are finding the prices in Brantford to be very attractive compared to where they currently live.
If you live in Brantford or Brant County and you are planning on making a move this year, give us a call or text and we can go over your best options for making a move in this market and show you exactly how and why we will sell your home for more money! You can Call or Text The Terry Summerhays Team at 519-802-8770.
To learn more about how Terry Summerhays is able to consistently sell his listings for 4%-6% more money year-after-year check out our proven and aggressive Summerhays Selling System so you can sell your Brantford home faster, easier, and put more money in your pocket!
Thank you for your time and have a great day!
***Statistical information was compiled from data provided by the Brantford Regional Real Estate Association