Here is your Brantford Real Estate Market Report for the month of October 2018 featuring 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 October 2018 was $411,718, which is 2.95% higher than October 2017. There were 185 new listings of detached homes and 107 sales in the month, which gives us a sales-to-new listings ratio of 57.84% for the month. That means that just under 6 homes were sold for every 10 homes that were listed in October 2018, indicating a fairly balanced market for the City of Brantford as a whole with a slight lean towards a Seller's market. 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 October 2018 was $438,941, which is up 13.76% compared to October 2017. There were 52 new listings of detached homes and 22 sales in the month, which gives us a sales-to-new listings ratio of 42.31% for October 2018. That means that approximately 4 out of every 10 homes that were listed in the North End areas in the month of October were sold, indicating a fairly balanced market last month for the neighbourhoods in the North End areas but closer to a Buyer's market than a Seller's market. 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 October 2018 was $487,737, which is down 1.19% lower than October 2017. There were 36 new listings of detached homes and 17 sales in the month, which gives us a sales-to-new listings ratio of 47.22% for October 2018. That means that a little under 5 homes were sold for every 10 homes that were listed in October 2018, indicating a balanced market last month in the West Brant area.
Terry's Take on the Brantford Real Estate Market
The Brantford real estate market in the month of October 2018 saw an increase in the number of new listings(up 11.45% vs October 2017) but a decrease in the number of sales during the month(down 13.71% vs October 2017). However, the average sale price was up almost 3.0% vs October 2017 and in some neighbourhoods the average sale price was up a lot more than that. The homes that are being priced correctly are selling and when marketed aggressively those homes are selling above their asking prices, but I have noticed a lot of overpriced listings coming onto the market, which has a negative impact on the statistics because those homes will not sell without numerous price drops and they will eventually sell(if they even sell at all) for well below their original asking price. The reason these homes are being overpriced is a private discussion but if you would like to know the reason feel free to give me a call.
The Terry Summerhays Team's listings this year have sold with an average sale price that is 4.89% above the asking price, and 6.49% higher than the Brantford Regional Real Estate Association's average sale price in 2018. 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