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